REALTOR® Q&A: Answers to your most important buying and selling questions
As we enter the spring market, which is notoriously the most active season for real estate, Team Harborside brings you answers to the most common questions that we’ve received from buyers and sellers. Due to a combination of mild weather, strong economic factors, and low interest rates, the real estate environment is already heating up.
1. How is the overall real estate market right now?
Activity is unseasonably high. In terms of sales volume and overall housing movement, we are much busier this year than last year. We attribute this to a combination of factors: a strong economy, record high stock market, and low interest rates.
2. Are you expecting a busy spring?
The spring market is already here. It started early this year due to mild weather. Frankly, we’re surprised to see the market this hot already. We were beginning to see some minor indicators of a cool down towards the end of Q4, with slightly longer days on market and a slowed rate of sale price increasing. However, things picked up right after the holidays. Many of the homes that we listed in January and February received multiple offers despite these months typically being historically slow.
3. What could impact the real estate market in the next few months?
Anything could happen, but if favorable weather conditions hold, we predict that we are in for another incredibly active spring. We’re also watching to see if the election year makes any impact on sales. Political events are always a wild card. The last election didn’t have much of an impact, but this time around could be a different story.
4. For buyers, is it possible to get a deal?
Even in a competitive market, there are still ways to land a deal. We have a few tricks up our sleeves. In a fast-paced environment, you need to be able to react quickly and know when to strike when the iron is hot. When working with buyers, we help to prepare and advise our clients on how to navigate these nuances.
5. What do sellers need to know about preparing to list?
You want to give yourself enough lead-time. Positioning your home to receive top dollar can take careful planning and resources. Our team is available to tour your home and provide answers. We provide a detailed outline of the steps necessary to best show your home. Then, we create a comprehensive marketing plan to attract a buyer.
6. What’s your best advice for those preparing to buy or list this spring?
Strategy is extremely important for both buyers and sellers. For those who’ve been waiting for the 2020 market, it’s time to get the ball rolling. Our advice to sellers has been to move up their timeline in order to capitalize on activity. For buyers, we tell them they need to realize that the deals may be occurring now, and they should be active in order to get ahead of the competition. We are currently booking meetings and are ready to assist.
Your best life begins with a home that inspires you. The real estate team you choose to represent you should be as exceptional as you are, and as your next chapter is going to be. Contact us to discuss your vision.