We have been experiencing a handful of hurdles with appraisals and inspections. That’s what we do, is get our clients through these things to hopefully make the process enjoyable and less stressful (not that moving is ever not stressful).
Our inventory has certainly not increased but we have seen a little bit of slow down, which is typical for July as people go on vacation or just need a little break after a crazy spring. I cannot stress there is not a better time to buy or sell.
We are seeing interest rates start to raise just a bit and that is expected to continue. In October we are going to see some lending changes that are going to make closing quickly not possible. So, if you are thinking about buying soon, you need to get the process started sooner than later. So what this means is call us, and let’s sit down to go over your needs and a buyers book. Same with the selling side. Remember your potential buyer is going to take longer to close, which could move your plans back. Or if the market shifts, it could mean a missed opportunity.
On average the market is up approximately 2% since last month and in Brookhaven alone 27% since last year. Inventory continues to be our main challenge. Buyers wanting to buy with the challenge of very little to choose from. List to sold price average for The Suits Team is anywhere from 98% to 105%. For me this means setting expectations for my clients that the good homes go extremely fast so we also have to more fast when the interest is high.
For sellers, THE TIME IS NOW! We are still in an extreme sellers market with sellers getting what they want and more. I am noticing while out showing that sellers have taken the steps to properly prepare their homes and they are market ready.
We have already sold 50 homes this year and are on track to sell more than last year! The market is a crazy place though. Your market is likely different than your friends market, even though they live 35 minutes away. That is why you need our help. We have really felt emotions involved more than ever, and it is our job to keep things real, and get you to the closing table. We are always looking for houses to sell. If you know anyone that is even talking about it in a future sense, put us in touch with them. Their best opportunity might be RIGHT NOW!