Market Chat

After a tiny lull the week of the Holiday, the market is coming back full force. I have personally been logging in some long hours to take good care of my buyers and sellers since the last week of December, and the phones really started ringing on January 2nd.

Buyers are still lacking inventory, especially those who are shopping with a USDA Rural Development loan (0% down.. not sure what that is? Contact me, I have a guy for that!), and we are also finding there is a smaller selection of ranch style homes available.

Sitting at the Round Table (where the magic happens at Modern Realty), I've noticed my peers are saying the same thing BUT- season started way early. Buyers are trying to get ahead of the spring and summer competition (like we wisely told them to) and its looking like we are having one of the busiest January's ever.

Buying? Don't let the market stress you out or deter you from going for a home purchase. Get out there, get preapproved, and narrow down what you consider MUST HAVES, MUST HAVE NOTS, and things you can live with. Find an agent who is experienced in multi-offer scenarios just in case (me), and come up with a strategy that will work for you both. IF you enter a multi-offer it does not mean you have to over pay.

Selling? You don't have to wait until Spring, there are serious buyers out there now.

Does this mean you can over price your home because it is a sellers market? No. You should price your home using supporting data (which comes in several forms...ask me). Buyers are still not putting offers in on homes that do not have data supporting the ASKING price. Buyers are paying higher prices for updated homes vs. perfect locations or floor plans, but many sellers are putting homes on the market as is, for current market prices and some may be surprised to find themselves sitting there, chasing the markets tail. Even simple things like updating paint colors and trim will make a huge difference. Whats the best move? Call me. I will fill you in.

Until we meet again,

Teresa