It’s no secret that the real estate market is at an all-time high right now. In 2015 alone the real estate market has experienced a pretty impressive growth in numbers! For the PlanOfam and real estate agents alike this is rather exciting news. But, this may be a strenuous project – specifically for home buyers. Whether putting an offer down, or vigorously searching for the ideal estate for a client, it goes without saying that those whom are involved in the industry have had their hands full this past year.
One of the most recognized trends that has caused a sudden rise in prices seems to be that home owners simply are not selling right now. As you know, the real estate world is a two-way street, so you can’t quite expect things to flow the way they normally would if there is a pretty significant component missing on the other end. With such a hot market, current homeowners may be worried that they won’t be able to find a home or are still waiting to recover their homes value from the previous fall of the economy. Either way, so much demand and not enough supply results in remarkably steep price tags. Not even the most skilled and licensed real estate agent can anticipate when and how hard, or soft this uptick in the industry will touch down. But, here at PlanOmatic, we’re all about looking at the glass half-full. You can take the edge off and make the process just a little less cumbersome.
Buyers and renters; keep a running list over the duration of the search. This process may seem daunting and after looking at tons of properties it’s easy for elements to start blending together. Make sure to write down those traits to a home that caught your eye – whether it be that dark granite kitchen counter you couldn’t take your eyes off of, or that single-sink in the master bathroom that you couldn’t bear to have to share with your better half, make note of it. In doing so, you can easily sort through the pros and cons when you start to narrow it down. Having the ability to easily recall those specific attributes to the home may just spark your interest to go ahead and put an offer down before that other couple does. Now’s the time to really drill down; ask a lot of questions. Catch sight of the surrounding area, do schools nearby have a good rating? Is there an unusually large amount of vacant properties on the block? Although you may feel eager to make an offer, make sure you that you really see a future in the space.
Agents; take this opportunity to strengthen relationships with clients. Be mindful – pick up the phone and reach out to current and past clients, nothing is more reassuring than knowing your agent has your back, even after the deal is closed. I strongly encourage agents to inform before clients have to ask – communication is always crucial, especially right now. Your clients want to know all of the little details about a space, even if it’s minute – it matters! Display an abundance of images, mention the fact that there’s a delicious bagel shop around the corner – that’s what potential homebuyers and renters want to hear.
Being that the market is at its peak, it can be a nerve-racking process for those involved on either end. However, rest assured, there is a silver lining and we can all benefit from the sudden boom. Here’s to making the most out of the market!
Sydney Crowell, Marketing Coordinator