Spring Has Sprung and So Has The Real Estate Market
This year, the spring selling season got off to a very early and energetic start. Not only have temperatures risen, but real estate agents are reporting increased showings at open houses, multiple offers on properties, and offers over asking price within weeks and even days. Overall, there has been steady interest and demand within all segments of the market from entry level and move-up buyers, all the way up to the luxurious high-end.
In many areas around the country, the market has swayed to favor sellers. Due to this, buyers are even more anxious to take advantage of low interest rates and lower prices before they rise.
As a home seller or buyer, this time of year can seem overwhelming, but it doesn’t have to be. As you enter into the busiest selling season this year, here are a few tips for both buyers and sellers that should make the entire process easier.
Buyers, take the time to review your credit score. A sound financial track record and solid credit score can help you lock in a loan at lower interest rates and obtain that necessary mortgage pre-approval, which you will need in this fast paced selling environment. Visit my web site www.MichaelRizzuto.com to hone-in on your housing priorities,preferences and location. Of course select and work with a sale professional who will help you through the entire process. I have years of negotiating experience which is invaluable when it comes to closing the deal in this competitive market so please feel free to call me.
Sellers,while homes are selling faster than they have in the past five years, you still need to do your homework as well. Have a home inspection completed so you know what issues may arise and address them before placing your home on the market. Additionally, do some spring cleaning, painting and sprucing. Be forewarned that buyers are still looking for a great deal, so ensure that your home is priced accordingly and in good condition. Again, work with a local real estate professional like myself who can advise you and negotiate on your behalf.
For those sellers who are sitting on the fence, don’t try to time the market. By the time most sellers sense a shift, the tables have typically already turned. Instead of waiting for a slim and unreliable window of time, potentially missing out, sellers should focus instead on their own lifestyle needs.
If you are thinking of placing your home on the market and are not quite sure if it’s the right time for you, call me today. I will complete a competitive market analysis, review competing homes currently on the market, and will determine the inventory levels specific to your locale and price point. Now is not the time to wait if you want to list your home. There is a window of opportunity here and it is uncertain how long that window will remain open. Until it closes, let’s keep the fresh spring air flowing in.
Rockland County Housing Statistics
(Activity last 30 days source MLS)
Total Inventory 1169 388
Under Contract 153 40
Title Transfer 85 31