With summer right around the corner (how did that happen?) we thought it would be a good time to check in to see how you are doing and let you know what’s new in the real estate world.
As you may know, it is still a busy market with many listings selling within a week or so. With low inventory, sellers are in the driver’s seat and many are being presented with multiple offers to choose from. In saying that, we have been able to negotiate the price and dates our sellers are happy with. Many of the services we offer (staging, pre-open house clean, professional photos and floor plan, advertising etc. at no additional cost) help these sales to be successful.
While this is good news to sellers, it can be difficult for buyers to get their foot in the door. We have been very successful with getting our clients the home they want. We are able to achieve this by going into an offer situation well prepared. We take the time to do our research, what is the right fit for our buyer, as well as their comfort level, finding out what similar houses in the area have sold for, what is important to the seller in an offer, ensuring all financing is in place among other things. We will present your offer in person to the listing realtor and seller so negotiations can be immediate and face to face vs. email.
It is predicted that interest rates will stay low well into 2020, although the new mortgage rules have caused mortgage rates to be very complicated. This is why we suggest and encourage our clients to know ahead of time what they can comfortably qualify for. It can be beneficial to work with a mortgage broker who has access to a wide range of lenders and asks the right questions to assess your situation and provide the best mortgage for your needs.
If you have been thinking of selling, we can let you know that only three units in your complex have come up for sale in 2017 and two of those had accepted offers within 2 weeks. There are a few differences in all three units (size, updates, views etc.) but the average sale price was over $660,000.
We understand it can feel like a lot to absorb when making the decision to buy or sell, that is why we are here and happy to help with any questions and provide you with a Comparative Market Analysis of your home to give you an idea of what sales are like.
Take care and enjoy the upcoming summer! Don’t forget to give us a call if you or someone you know is thinking of buying or selling.