Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different!
Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is that the inventory of homes for sale has not kept up with demand, which has lead to A LOT of competition for the homes thatareavailable.
A recentBloombergarticletouched on the current market conditions:
“It’s the 2017 U.S. spring home-selling season, and listings are scarcer than they’ve ever been. Bidding wars common in perennially hot markets like the San Francisco Bay area, Denver and Boston are now also prevalent in the once slow-and-steady heartland, sending prices higher and sparking desperation among buyers across the country.”
Sam Khater,Deputy Chief EconomistatCoreLogicwent on to explain why buyers are flocking to the market in big numbers:
“In today’s market, many buyers think the trough in [interest] rates is over. If you don’t get in now, it’s just going to be worse later. Rates will be higher, prices will be higher, and maybe inventory selection will be lower.”
In some markets,“thirty-five percent of properties are selling within the first week or two of hitting the market.”Homes are selling at a rapid clip in places like:
Grand Rapids, MI
Let’s get together to discuss your exact market conditions and help you create a strategy to secure your new home in this competitive atmosphere!
Author:Heather F Davidson Phone: 609-209-7581 Dated: April 5th 2017 Views: 76 About Heather: I'm an agent whose business is built on the promise of exceptional customer service. If you are sel...
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Specialties: Buyer's Agent, Listing Agent, Relocation, Short-Sale
I'm an agent whose business is built on the promise of exceptional customer service. If you are selling your home or searching for that special place to call your own, you deserve to work with someone you trust-someone who you know has your best interests in mind. Whatever your particular Real Estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.
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"She was wonderful and very responsive. We had a lot of anxiety with selling our home and were hoping to sell it quickly because we needed to find something bigger since we are expecting twins. Our first meeting with Heather we knew she could get the job done. She promised to have our home sold before twins arrival and she did just that in less than 3 weeks! She's a superwoman for sure. There were some bumps in the road with the mortgage company we chose to purchase our new home and Heather assured us everything would work out and it did. She is so easy to get along with and has an answer for any question or concern. I highly recommend her"