By Beth McGeorge, RE/MAX Jefferson City, REALTOR®
To sum up the current real estate market in one sentence: Demand remains high, and the market is HOT! In translation, property values are soaring, both locally and nationally, due to low housing inventory, low interest rates and the rising cost of new construction. There is an imbalance between supply and demand. In the last 12 months, I have experienced more bidding wars on listings than my previous 17 years in the business combined! It seems like our specialty these days!
Even though real estate is hot, when it comes to selling, the need to properly market your home remains a key element, and most importantly, proper pricing. Any home sitting on the market for even as little as two weeks will feel the effects of being “market worn” and will quickly be overlooked by buyers. The exposure and current market knowledge a REALTOR® can provide is unmatched. Most sellers I meet with are absolutely floored with how much their home is worth!
This market continues to be VERY difficult for buyers. It’s imperative to find a buyer’s agent to help you navigate this unprecedented real estate market. Buyer specialists can not only send you new listings first, but they are also at the pulse of what new listings will soon be hitting the market. Many people don’t realize that when they hire a buyer specialist to represent them, they usually do not pay the commission (that fee is built into the listing agreement for the seller to pay).
The wisdom of an experienced REALTOR® has never been more valuable. When house hunting, keep in mind you may need to look at MANY homes and possibly submit MANY offers before securing a contract. We will ensure we are assessing your short and long-term housing goals. When submitting offers, keep in mind your budget, anticipated length of ownership and assess how your needs/goals align to the current real estate market. We will help advise you and ensure you are well informed every step of the way!
Bottom line, my best advice, whether buying or selling, step one is to get connected with the best professional REALTORS®. We’ll take it from there!