Real estate agents are reporting increased showings at open houses, bidding wars, and multiple offers over asking price within days, sometimes even hours. Basically, it’s a jungle out there.
Before you jump into the fray, ask a Coldwell Banker Residential Brokerage affiliated sales professional to guide you through the process.
As a homebuyer, this time of year and competitive environment can seem overwhelming, but it doesn’t have to be. As you enter the busiest selling season, here are a few tips for both buyers and sellers that should make the entire process easier.
Buyers, take the time to review your credit score. A sound financial track record and solid credit score may help you lock in a loan at lower interest rates, and try to obtain a mortgage pre-approval, which you may need in this fast-paced selling environment.
Keep in mind your housing priorities, preferences and desired locations when hunting, and remember your budget. Don’t get caught-up in the emotional drama of bidding, and price yourself higher than you can afford. Of course, select and work with an affiliated Coldwell Banker Residential Brokerage sales professional who will guide you through the entire process. A local real estate expert with years of negotiating experience is invaluable when it comes to closing the deal in this competitive market.
Sellers, while homes are selling faster, you still need to do your homework as well. Do some spring cleaning, painting and sprucing. Be forewarned that buyers are still looking for a great deal, so ensure that your home is priced accordingly and in good condition. Again, work with a local real estate expert who can advise you on a pricing and marketing strategy.
For those sellers sitting on the fence, don’t try to time the market. By the time most sellers sense a shift, the tables have typically already turned. Focusing instead on lifestyle needs is usually the better option.
For survival guidance during the spring selling season for buyers and sellers, contact a Coldwell Banker Residential Brokerage affiliated sales professional today. While the process may be challenging, your sales associate will lead your way.
About the Author: Chris Mygatt
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