Let’s Talk Real Estate: Ready, set, let’s get moving

Let’s Talk Real Estate: Ready, set, let’s get moving

Photo courtesy of Michael Ardolino

By Michael Ardolino

Michael Ardolino

Strong seller’s market? Yes, historically it’s still a strong seller’s market. So, let’s get moving. 

Ready or not

Grab the opportunity now. While it still takes time to prepare your home to go on the market, homes are still selling quickly once the For Sale sign goes up. Once an offer is accepted, there are negotiations, inspections, and contracts to be signed.

The one tip that I believe is always worth repeating is price your house according to current real estate market conditions. This piece of advice can help you sell your home quicker and at a higher price. You want to find a price that doesn’t deter potential buyers which may lead to a price drop. 

Some buyers may see such a move as a red flag leaving them to wonder if there is something wrong with the house, when it could have been as simple as it was priced too high for the current market.

For those planning to upsize, downsize, retire, or simply start fresh, why wait? Now is the time to get your house ready to sell.

Seller’s choice

The supply of houses is still behind demand, which means homes continue to appreciate. The market is experiencing an extended period where supply cannot keep up with demand, leaving behind practically nothing to choose from, and it’s still rebounding. The appreciation is still rising. Those selling their house will still make a nice profit on a sale and did not miss the boat. The median price of Suffolk County homes in July 2022 was up nearly 10% since the same time last year. Within the last month or so, more than 65% of homes were sold over the asking price. 

What’s going on with buyers

Buyers are adjusting to the current market. Homebuyers understand that mortgage rates are still excellent and don’t want to miss a smart financial move, even though they are acting more cautiously. 

The recent intense market and rising and falling mortgage rates this year have kept things interesting. In the near future, experts are expecting a strong continued growth market. Get ahead of it by selling now.

Takeaway

There is no such thing as perfect; timing is everything. When your future includes a move, start discussions with a local real estate professional sooner rather than later. They will help you prepare your home and list it at the right price. So … let’s talk.

Michael Ardolino is the Founder/Owner-Broker of Realty Connect USA.