“If you’re trying to wait for the perfect time, I feel like you’re going to sit and wait forever,” Rob Heck, head of origination at the online mortgage broker Morty, told NerdWallet.
Is it possible that the “perfect time” is now? Let’s take a look at the signs that it be a good time to buy:
FOR BUYERS: COMPETITION MAY BE COOLING A BIT
As most buyers know, the housing market has been fiercely competitive over the last few months, but hopeful buyers need not despair.
According to a recent Redfin report, bidding wars reached their lowest point in the year during September.
However, housing inventory is actually at a high for 2021 with new homes still coming to the market at a fairly brisk pace in most areas.
With slightly less competition in the fall market and a decent inventory, the odds are better for buyers than any other point in 2021. Hopeful buyers may wish to keep their eye on a few market trends in their desired neighborhoods.
SELLERS TAKE NOTE: Now, that’s not to say that a well-prepared and well-priced property doesn’t still command multiple offers. In fact, my most recent listing in Fairfield received multiple offers and sold substantially over its list price.
TIPS FOR BUYERS
“Days on Market” remains a key indicator on whether now may be a good time to buy a home. Although many homes may still “fly off the shelves,” those properties that sit on the market a little bit longer may signal a great opportunity for buyers with less competition.
Keep a steady diet of “compromise.” Are you willing to put in a little sweat equity? Can you tolerate a busier street or a smaller lot than originally anticipated to get a home in your desired area? There’s really no such thing as a perfect property. Sometimes a buyer actually CREATES the perfect property through their own hard work and vision!
Finally, hire an agent who is steady, positive and on top of the latest listings in your area. As a member of a large brokerage, I have access to many listings before they actually hit the market and I can alert you to what’s happening in your preferred neighborhoods. Don’t underestimate the value of having a dedicated buyer’s agent in your corner!
FOR SELLERS: THINKING OF SELLING?
It’s still a great time to list and sell your home. But don’t leave a penny on the table! To be sure that your home receives maximum exposure and maximum presence, consider everything I offer as a listing agent:
•$1500 Curb Appeal Update—My Treat! Let’s make sure that your home is ready for its closeup.
•Complimentary Staging—No matter the price point, your home deserves celebrity treatment!
•Concierge Service—Does your home need paint, new flooring or other updates? Do you feel overwhelmed by the task? Let me take it off your plate with my handy black book of professionals I trust. I’ll schedule and attend all the pre-listing inspections and make recommendations for any needed repairs or maintenance and take care of the follow-up.
•Custom Landing Page—Our custom landing pages receive hundreds of hits in campaigns designated to find the right group of people interested in YOUR home!
•Premier Marketing—From start to finish, your home will be marketed “to the nines” to assure maximum exposure.
•Finally, I’ll bring integrity and respect to the table every single time!