This IS the Spring Market

I've heard many homeowners looking to sell their homes say they'd like to wait till the Spring market begins so they can take advantage of the expected flux of buyers come Spring time. They are right in believing the Spring market is a great time to debut a new home listing however, believe it or not, the Spring market has already begun.

Serious buyers are out there and they are looking to buy now. June is one of the busiest months of the year for home settlements and it now takes an average of 60 days to close on a property. That means most offers are made in April. It can also take some buyers about two months to shop for a home, bringing those buyers settling in June beginning their home shopping in February. If you're looking to sell your home this year, or even buy one, now is the time to get off the sidelines.

Sellers:

• Stop waiting for market improvements, they're here. Now is a great time to jump back into the game.
• Be aware, lenders are making it harder for buyers to qualify for mortgages so choose your offers wisely and be sure your buyer is already preapproved.
• Create a good impression of your home with vivid photos. Remember, most buyers begin their homesearch online and you want to leave a good first impression.
• Get the price right from day one. When pricing a home I do a comparative market analysis and come up with the best possible price for each home. 'Testing' the market at a bloated price will only leave your home sitting with not interested buyers.

Buyers:

• The market has already hit bottom and prices and rates can only go up from here. Now is a great time to get in the game while home prices and interest rates are still low.
• Be sure to get preapproved for a mortgage before starting your house hunt. This will avoid any possible disappointments when it comes to affording that dream home.
• Leave nothing to chance. Turn on the stove, run water, flush toilets, turn on the air conditioner, open closet and cabinet doors. Just as you'd test drive a car before buying it, you want to test out the home's functions.

Like my tips? You'll love what I can do as your Realtor®. Don't forget, if you or someone you know is planning on buying or selling a home, give me a call and I'll make your home ownership dreams come true.

Kristy O'Connor
Realtor®
Weichert, Realtors - Media
606 E. Baltimore Pike, Media, PA
267.243.6434
KristyLOConnor@gmail.com