March Local Real Estate Market Update
We still have low inventory! There have been very few people putting their homes on the market because it is winter. Many are waiting for the warmer weather. The "Spring market." But wait,
despite the colder temperatures buyers are out looking at homes. Many buyers are anxious because rates have been going up. So now is a great time to sell. I have a lot of clients telling me March or April they are going to list their home. Capitalize on the low inventory and get your home on the market now before everyone else lists. Premarketing is very effective in this market. Get your home out on our Coming Soon Campaign in advance. This will drive demand up for your home. And a high demand means you, the seller, had more leverage. It also helps to net you the most money possible.
Since there is low inventory, homes often have bidding wars on them. So if your a buyer how do you win a bidding war?
Start with hiring an expert realtor who is an experienced negotiator. Everyone thinks that the highest bidding price wins. That is not always true. You need to find out the sellers motivation. Sometimes seller's want to take the deal with the least hurdles. This means it is time to get creative! You have the right to a home inspection, do one but tell the seller you will only ask for major items so they know they won't be nickel and dimed. If it is a vacant house and a few items are left in the home, offer to let them leave the items so they do not have to discard them. The bottom line is there are many different approaches but if you really want the house keep in mind what is most important to the seller.
We still have two upcoming Home Selling Seminar dates for the spring where we teach you how to net the most when you plan in advance to sell your home. One in Bensalem on April 4th and another on May 1st at the Northampton Library. For more information visit our website: www.SwainSells.com
Carol Swain. A senior real estate specialist with 25+ years of experience in the real estate industry.