How’s the market? As always, it depends on your plans. Inventory is still low. We don’t have enough houses for sale to meet the buyer demand. But interest rates have been going up since the election. The fed is expected to raise the bank’s rate this week which down the road could impact mortgage rates further. In my experience, when rates rise, prices may eventually soften because buyers will not be able to afford as much of a loan.
So if you are considering selling, call me sooner rather than later to discuss a plan.
Buying? The note above makes it sounds like buyers should wait because prices may soften. But if you are financing a purchase and rates rise, you will probably get more house by buying sooner than by waiting. If you are a cash buyer, then you could wait it out and see if prices soften. Confused? Happy to clarify, just give me a call.
Some homes are not selling as quickly as they were earlier this fall, and we have seen some price reductions this fall. Savvy buyers are considering these “leftover” homes that are sometimes ripe for a price reduction or have a motivated seller.
Homes that are marketed with panache are attracting the people who will love (and buy) them. Homes that are appropriately priced, prepared and marketed are still eliciting multiple offers. Here’s an example of one of M’s listings that sold over asking price, and in less than a week.
We are working with many buyers who are looking for their dream home. Call me if you’d like to get your home treated with our superior and unique marketing service called TrueView. I’d love to hear about your real estate goals and help you determine the best way to meet them.
