See the latest market report for our area.
The first quarter of 2016 is in the books, and April Fool’s Day is past, so we can truthfully report we have just completed our best start ever in 18 years! Our best listings, priced reasonably and well-prepared for the market, are moving in a matter of days, and sometimes in just hours. We’ve not seen a market like this is quite some time, but this one feels different. It is built on true supply and demand, and not on gimmicks and no-down payment programs that led to the scalding markets of the mid-2000s. Those markets eventually collapsed. We don’t see that happening here.
As new construction continues to make its comeback, and inventory slowly builds, the quick-sale pace may slow some, but low interest rates and the re-entry into the market of many consumers who have now recovered from losses they suffered in the early part of this decade should make for a continued robust market.
As we have noted, the housing market had three big questions heading into this year:
Will listing inventory levels rise to meet demand in the first quarter? Still not yet, so far.
What impact will the specter of rising interest rates have on how quickly buyers hit the market this year? Well, they have been and are still out in force. But interest rates have NOT risen; in fact, they are lower today than they were at the first of the year. Buyers are still moving quickly to take advantage of the continued historically-low rates.
How will the upcoming presidential election affect real estate, and when will we begin to feel those effects? That is still to be determined.
So, what does that mean to you? Well, if you are wanting to sell, you may want to go ahead and talk to us now. Sooner is still likely to be better than later this year.
If you are a buyer, it means you need to be monitoring the market now, getting together with a lender and an agent and preparing your plan for action. Good homes priced right are not likely to linger this Spring and into the Summer, and the folks who are prepared to move quickly will be in position to grab these homes as they come available.
Sellers: If you have not done your planning and preparation, it’s time to get moving. Sellers who are ready to list their homes now will still beat a lot of their competition to the market. And you certainly don’t want to miss having your home active before Spring turns to Summer. Most folks need to do at least a little sprucing up, and we are here to help you figure out what to do now. Don’t forget: We go the extra mile to help our clients prepare their homes for the market; price them right; stage them well; and we invest wisely in professional photography, video and effective online marketing.
Buyers: New financing and closing regulations mean longer waits between contract and closing, so don’t assume you know what to expect. A lot has changed – in 2010, and again last October, so if you have not been in the market in several years, you’ll find our buyer orientation programs useful and beneficial. Also, buyers need the freshest, most accurate info on homes for sale to take advantage of sometimes brief windows of opportunity when the right home hits the market. And, that’s what The Hetrick Team does well. We make sure our buyer clients are ready to buy—prepared, poised and ready to go. Our buyers stay a step ahead of the market.
As we have been for 18 years, we are here to help. Just give us a call or drop us a line.
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