Today is the first day of Spring and for anyone in the Real Estate Industry, the first day of the "Big Rush"As any real estate professional would tell you, the market is usually at its best in the
How To Prepare For The Spring Real Estate Market
Today is the first day of Spring and for anyone in the Real Estate Industry, the first day of the "Big Rush"
As any real estate professional would tell you, the market is usually at its best in the Spring and Summer. Anyone that was contemplating selling their home has now entered the market, and everyone wanting to buy is out house hunting!
Experts have determined that this Spring/Summer, we will have a seller's market! Real Estate 101: A seller's market is when affordability is high but inventory is low. According to forbes.com, the average listing price has increased by 8%, days on the market decreased by 7%, and inventory decreased by 7%.
So what does all of this mean to you?
As a seller, you can get top dollar for your home as long as it is in top condition. There aren't many homes on the market to compete with, and the amount of days your home will be listed on the market has decreased. You can also expect to receive multiple "strong" offers in a short period of time.
As a buyer, You should expect to complete against other buyers for the same properties. You will need to submit strong offers and trust the recommendations of your realtor. You will also need to act fast as properties will not stay on the market long. Because inventory is low, you may also want to consider looking at properties that may require renovation before moving in.
Here are some things to do to make sure you're ready for the Spring Market!
Make small updates/repairs to your property to give it more appeal
Interview realtors to determine the best professional to list your home...Me :)
Decide how much you would like to sell your home for in order to receive a desired profit
Spring Cleaning: De-clutter your home to get it ready to show to prospective buyers
Interview realtors to determine the best professional to sell you your next home ...Me :)
Enroll/complete first time home buyers class if necessary
Get Pre-Approved through a mortgage lender
Create a personal savings plan to ensure that you will have the monies available for downpayment, closing costs, etc
Begin your House Hunt!...with Me :)
If you have any additional questions about the Spring Market or would like to get started, please give me a call! I would love to be your trusted Realtor :)
Alonna Gordon is a licensed Real Estate Agent based in Maryland. Alonna's background in sales, customer service, marketing and management is a tremendous asset to her clients. She gives constant ener....