Dear Friends and Neighbors,
During the last quarter of this year, the market has calmed down quite a bit. The frenzy of the first six months of 2015 is gone but there are still excellent opportunities for sellers to be very successful in selling their home, condo or town home.
Inventory for sale is “sitting” on the market right now in all neighborhoods, even in the most high demand areas. This is because the properties are priced above the market. In the crazy activity of the first 4 months of this year, sellers could receive several offers, even if their home was priced too high, as the inventory was so low and demand so high. But now that we are in the last quarter of the year, the buyers are much, much pickier and they are ignoring those properties that are priced over the market.
Sellers will be very pleased to see that if they price their homes correctly for the time of year, don’t push the asking price too high, and maybe spend a bit more energy and time preparing the home for sale, that they will receive one or more offers very quickly after placing the property on the market. Additionally certain price ranges have more activity than others right now. There are more high end homes for sale and although the really good ones are selling, they are staying on the market longer than before.
This fall market offers lots of opportunities for buyers. Although the choices are great, there is less competition from other buyers, some agents have become “tired” of the crazy market and are slower to react to new listings, and homes are staying on the market a bit longer, even well priced ones. The interest rates are still low but there are threats from the Feds that a rate hike is coming, perhaps before the end of 2015.
My team and I would be pleased to offer our services to sellers to assist in determining value for your home, recommending what preparation is necessary before placing your home on the market and offering our “pre-marketing” strategy. For buyers we are never “tired” or slow to react to upcoming listings and we will show you how we have been successful in winning bidding wars and finding wonderful homes, condos or town homes for our clients. Contact us and see if we are the right team to help you!
Your Realtor, Laurie Erb & the Erb Team