Tuesday, October 3, 2017
General Real Estate Advice
The real estate dynamics have changed over the past few months. Earlier this year, we experienced one of the strongest "Sellers Markets" ever as a direct result of a very low inventory of available properties. However, with some economic uncertainties and the demographic shift that has started, many home owners decided to put their home on the market. The result has been a substantial increase in the number of available properties for sale thereby pushing the market into a more balanced level between supply and demand.
The good news with respect to this change is that potential buyers have more choice of properties to consider. Another good aspect is that there is adequate time through conditions to have home inspections, second viewings, and proper financial approval. These conditions can also be a positive aspect for the Seller who can move forward with more confidence knowing that the Buyer has completed their due diligence and is happy to purchase their home.
When markets go through some change, it is very important to have all the latest statistical information on which you can base your decision whether buying or selling. A seller wants their home to achieve the highest and best return but does not want to price their home out of the market based on past information. A buyer needs to know that they do not need to feel pressured to make a decision based on the past market of multiple offers and bidding wars.
Current information is the key to a good decision. Call us, email us, or drop by one of our offices for the most up to date real estate information.