For many Realtors, The most asked question is: “How is the market”?
Answer – Remember when you bought a new car, and you suddenly started to see similar cars on the road everywhere?
Well, real estate signs are much like that. If you are listing your home for sale, you will suddenly notice more signs on every street corner and in front of homes in your neighborhood. The list of competing homes on the market is more likely double or triple that of what it was just a few months ago. The prices in many cities are leveling off and, depending on the neighborhood and city, buyers are able to negotiate repairs and terms. This makes it a great time to buy if you’ve been on the fence, lost out on homes to overbids, or have to sell your home to purchase.
Actually, it is becoming more commonplace to have a buyer with something to sell, who is making an offer on a home contingent upon their home selling. Contingent means something needs to happen for both sales to occur. That means the buying party wants the seller of the home they want to purchase to give them time to sell their home so they have their funds from the sale to purchase the new home. Once that occurs, the two escrows will go along simultaneously with their appraisal, inspections, and closing. If sellers and their agents do a proper vetting of the buyer, their financial status, the reasonableness of their pricing of their ‘for sale’ home and their ability to negotiate their price and still purchase the new home, this can work out as smoothly as any other single escrow transaction.
In short, the market data is there for all to see. It’s an adjustment for the sellers today to realize that they may not get what their neighbors got six months ago. But a balance in the market is good for a healthy real estate market. It is the Realtor’s job to provide the data needed to make pricing decisions based on today’s market. Homes, properly priced, staged and presented are selling at higher prices than others. It’s never more evident than in a changing market that you won’t want to leave anything to chance. Consult a skilled real estate negotiator, staging professional and with proper marketing, you will obtain the most money in any market. This is where experience matters.
Terrylynn Fisher, Broker Associate, Dudum Real Estate (DRE#01882902), 2018 5-Star Professional Award, Senior Real Estate Specialist (for active seniors and boomers). 925-876-0966,Terrylynn@BuyStageSell.com (DRE # 00615420)