My Answers, My Views will address whether or not it’s still a good time to sell or buy and what the new year thus far is looking like.
Yes, it’s a good time to sell – the prices are set and leveled out, keeping things steady. Although interest rates are creeping up (not alarmingly) the market will stay steady still favoring sellers. It comes back to supply and demand. I do see the days on market taking a bit longer to capture a buyer but I am still seeing multiple offers.
Buyers seem a bit more cautious when offering their price (not all buyers are willing to waive inspections or guarantee appraisal etc.). They’re taking their chances with more traditional offers. I think each real estate transaction should be looked at as far as history, movement in the area, along with an in depth look at the actives, pending and sold homes within the last 6 months. Then a strategic decision on offering terms and price can be made.
Therefore, buyers should be educated on the area they want to live in. I will educate you. You must stay in front of the market, meaning see what you like as soon as it becomes available. If now is your time to buy, be ready as there is no time like the present!
To sum it up, 2022 looks like a steady flow of purchases and sales even with a slight increase in mortgage rates. The increase in rates will affect buyers purchasing power but by no means will the increase stop the buying process. If you are ready to move I’ll make every dollar count! Whether you’re the buyer or seller!
What’s next?
My Answers My Views will discuss what to consider if you are an investor….
