Whether it be the seasons shifting, or the Market itself on the gradual upswing- Big changes are occurring in our Northeast Ohio Real Estate Market! Just last month, I listed a home on a Monday into the MLS, within a 24-hour period we received 3 offers, and the house sold in LESS than one day! Interest rates are beginning to climb as well, trending up to an average of 4.2%- If this is any indication of what we can expect in our Market, it is time that clients and agents begin to adapt our strategies accordingly!
With everything else aside- appraisal worries, school schedules, etc- It is becoming very clear that the days of low-ball offers and dragging our feet are becoming a thing of the past. It is crucial that my clients are jumping on an opportunity to purchase a home they’ve seen and loved. The window for sales is getting smaller and smaller and the Sellers know they will get a Buyer at the price they ask- sometimes even several interested parties!
It can be a tough common ground to find- Buying a home is a HUGE decision and it shouldn’t be entered into lightly, however time is of the essence if one is found that meets your needs and wants, we must move quickly. It is important that the pre-approval process is in motion, and the rest of the ducks are in a row when the search begins. Strong negotiation skills and overall dedication are what gets the job done, but even the best REALTORS need clients to fulfill their roles as well.
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As an agent, it is important to thoroughly review and explain the buying and selling processes, as well as different situations that may arise. Homes that are being sold outright will have different stipulations than a homepath property or shortsale- from the type of loan itself to the amount of closing time. Being educated and ultimately prepared are the best tools to be able to ensure the best results in your next purchase or sale. As a client, ask an abundance of questions- and trust that things unbeknownst to you will be explained and predicted to provide all of the information needed.