Oct. 1, 2021

How’s the Real Estate Market Doing?

Here’s what you need to know about our local real estate market.

 

Now that fall has started, how is our real estate market doing? Today I want to go over some of the numbers with you and explain what they say about the future of our market.

 

First off, the number of closed transactions increased by about 35% year over year. On top of that, we’re still seeing plenty of multiple-offer situations, and sellers are getting around 99% of their list price.

 

On another note, supply has gone down. This time last year, we had about four months of inventory; now, we only have one month. That’s a decrease of 58%! In September, we’ve seen more properties leave the market and go under contract than properties enter the market. All this information taken together shows that we are still in a strong seller’s market.

 

If you have questions about today’s video or any other topic, please call or email me. I am always willing to talk.

 

Posted in Market Updates
Aug. 31, 2021

How Sellers Can Avoid These 6 Mistakes

Here are the six most common mistakes that we see sellers make.

 

I’ve seen sellers make plenty of mistakes when selling their properties, and I want to help you avoid making those same mistakes when you decide to sell. Here are the six most common mistakes to avoid when selling your property:

 

1. Picking the wrong agent. The right agent is a professional who responds to you in a timely manner and understands the current market. They’ll be upfront, honest, and tell you what you need to hear.

 

2. Overpricing your home. A well-priced home will always sell, even in a bad market. We’re in a seller’s market right now, but proper pricing is still very important. It helps attract the most offers and gets you the highest price possible.

 

3. Not making simple repairs. Some fixes are very easy to do, but many sellers think the buyer can take care of them after the sale. Doing some repairs can help your property stand out upfront. Buyers could see small imperfections and wonder what else could be wrong with the house.

 

"We’re in a seller’s market right now, but proper pricing is still very important."

 

4. Neglecting to declutter. Clutter is incredibly distracting from what you’re trying to show off, the home. Put things away so buyers can stay focused.

 

5. Restricting access. If it’s hard for buyers to see your home, they won’t bother trying. If they’re turned away from a showing, they seldom come back. Be flexible, and make sure your home is show-ready at all times.

 

6. Getting too emotional. It’s easy to get attached to your home, but sellers should view it as a product.

 

If you have any questions about buying or selling a home, please feel free to reach out to me at 843-685-5826. I look forward to hearing from you.

 

Posted in Miscellaneous
July 12, 2021

Buy or Sell First?

It’s possible to efficiently buy and sell two homes concurrently.

 

How do you buy and sell at the same time? There are a few different ways to go about this. You could buy first and then sell, sell first and then buy, or do a concurrent sale. Here’s what that process looks like.

 

The first thing you should do is review your finances and get pre-approved with a local lender. Then we can determine how much your current home will sell for and how much you’ll be able to afford.

 

If you choose to buy first, you can search without the pressure of needing to sell. You also won’t need to find interim housing. The cons with this method are that you’ll have to pay two mortgages at the same time and we won’t have an exact figure for your equity until you sell.

 

"To buy and sell at the same time, a lot of preplanning needs to be done."

 

If you decide to sell first, you’ll know exactly how much equity you have and you won’t have to pay two mortgages, but you will have to find interim housing or negotiate a leaseback.

 

To buy and sell at the same time via a concurrent sale, a lot of preplanning needs to be done beforehand, but you can avoid the cons of both the other methods. Make sure the inspections and appraisals are done in advance so all the dates can line up.

 

If you have any questions about real estate matters, or if you’re looking to buy or sell a home, please reach out to me.

Posted in Miscellaneous
June 16, 2021

Real Estate Market Update: Summer 2021

Here is your summer 2021 real estate market overview and update.

 

We’re still in the middle of this unprecedented seller’s market. The number of homes for sale is down by about 33% compared to this time last year. The number of pending transactions, or homes under contract, is up by about 44% compared to this time last year. We're also seeing even more people from the northeast and out-of-state moving to town. 

 

We're still seeing low interest rates; I see a lot of local lenders advertising about 3%. Today I saw someone lock in a 30-year fixed conventional loan at 2.875%. Right now is the time for buyers to take advantage of this market.

 

If you're on the fence about whether or not it’s time to buy or sell your property, feel free to reach out to me. I’d love to help you.

Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates