Since it’s been a while since our last post, today I'm catching you up with what’s going on in our market.
Overall, the market is doing very well, and much of that is due to our low inventory levels, though we’re beginning to see a bit of a fall rush with homes being put on the market. That’s driving home prices up.
It’s tough for a buyer in this market right now; they typically have to compete with multiple offers and many have had to write offers on a few different properties before getting one. Many offers are even going over list price.
We recommend offering the list price or just a bit over to catch the seller’s eye.Given that, this is a great time to be a seller. However, selling for over list price isn’t a given—to maximize your home’s value, go through it and deep clean, declutter, and do any cosmetic updates and repairs that are necessary. Also, be aggressive with your pricing; even if you end up selling it for a bit under your asking price, the buyer will still feel like they got a deal, creating a win-win situation for both parties.
For buyers to get their offers accepted, they need to go in with their best foot forward. Make sure that your financing is as strong as possible. Sometimes it might be better to wait until you have enough saved up for a higher down payment so that you can have a competitive edge. You should offer the seller what you’re comfortable with, but for the most part, we recommend offering the list price or just a bit over to catch the seller’s eye.
We’ve also noticed a number of cash offers in the market. There have been investors in the market to buy retail homes, meaning that sellers with homes that need a lot of updates can have a quick sale.
If you have any questions about today’s market or how you can find success in it, don’t hesitate to reach out to us. We’d love to help you.