Is now a good time to buy, sell, wait….?
As a real estate broker, it is imperative I keep an eye on the market to know how to properly advise buyers on when to offer, and at what price. What I have been seeing in the past 3 weeks are significant amounts of price reductions along with high volumes of new listings hitting the market the same time price reductions are taking place.
What does this mean?
As the early spring and summer months show high amount of interest and above market sale prices, more sellers often see this activity and decide to sell, usually toward the end of summer. This creates another surge of inventory. At the same time, many buyers, who are school district sensitive, are just leaving the buying market, this leaves us with a surge of inventory and a deficit of buyers, causing price reductions.
This is a great time to buy, be aggressive and reasonable, remember, these sellers are now in shock that their home hasn’t sold in the first week and will be on edge. They will also scrutinize offers more and be more willing to work with the first offer (if no offers had been made yet).
This is a great time to sell, your home will sell, it must be priced correctly. Don’t ask for all the money upfront, and expect that buyers are smart and know what your competition on the market will be.
Waiting may cost you money, more then likely in the interest rate area.
Call me for more info!
Ethan @ 503-218-3838