The real estate market is poised for an active season and both buyers and sellers need our guidance. What does all-time affordability mean in a low-inventory market and how do you communicate that on either side of the business?
The real estate market is alive and well! The multiple offers we are seeing on so many listings is proof of that. With resurgence in our market comes a rapid decline in inventory.
Multiple offers are now as common as foreclosures and short sales used to be. So what does this mean for buyers and sellers? Should sellers line up to sell to take advantage of this? Should buyers sit at home and wait until the crowds die down? That entirely depends on the motivation of both the buyer and seller and their particular reason for buying or selling. Typically in a low inventory market this means that a seller will sell their home for more AND a buyer will pay more. Does this mean then that a buyer shouldn't be buying right now? ABSOLUTELY NOT! With the current interest rates hovering around an all-time low it is absolutely still a fantastic time to buy real estate. And while most buyers might cringe at the price they may have to pay if competing in a multiple offer situation, they could possible cringe more if they waited to buy and interest rates went up. In a market like we have now both buyers and sellers have to look very closely at the pros and cons of being in the market now. A seller might ask why would they want to list now if the inventory is so low. Doesn't that mean house prices would go up because of the lack of inventory? While this seems like a good assumption there are many variables that make that kind of speculating just that Ö speculation. Nobody knows for sure what the interest rates are going to do tomorrow, so sellers and buyers need to look at their particular situations very carefully
If a seller needs to sell but they want to hold off in the event inventory gets any lower they may also be holding off long enough to see an increase in interest rates which could cause the buyer pool to diminish. The question becomes whether or not that seller wants to speculate or if they want to be in the market as it is today. A "sure thing" today may not get sellers a speculated increase tomorrow. Perhaps the stars will align tomorrow, but today's market it is a sure thing. Sellers and buyers must look at an analysis of what it looks like to buy or sell today and what it could look like to buy or sell in the future Ė looking at how differing market conditions (such as changing interest rates and inventory) might affect the market for that property. Buyers need to know that we are still at an all-time high affordability rate and we have historically low interest rates. While they may be paying higher than they wanted if they have to compete in a multiple offer situation, what they save with the low interest rate will quickly make up for that over time. Sellers need to know that while the market seems to be in their favor right now it does not mean that this is going to last forever Ö or things could improve even more. The decision to sell needs to be about more than just speculation and playing the market. Ultimately both buyers and sellers are winning right now in what appears to be the perfect storm for both buyers and sellers. As an agent giving advice, I say don't delay in your decisions!! !
WHAT MAKES A GREAT AGENT?? I say its desire, its energy, its enthusiasm, its commitment, its daily disciplines; itís treating it like a business and acquiring the skills necessary to be the best you can be. Itís a willingness to put your client's needs, wants, and desires ahead of your own. I say itís being selfless; itís being honest and having integrity even when no one else knows the difference. I say itís someone who listens more than they talk. I say itís someone who has no ego and isn't controlling or on some power trip to strong arm the clients or try to show how much they know and worse yet, having a huge ego on control trips with other agents. I say itís someone who takes the time to learn their market stats, inventory, and know how to educate their clients. Itís someone who is genuinely interested in helping the client and not just getting a paycheck. I believe itís someone who spends time working on their business to remain at the top of their game. AND I WOULD SAY WE HAVE 4 OF THEM AVAILABLE FOR YOU 24/7...JUST ASK US, WE'LL TELL YA =-)
HAVE YOU HEARD THAT WE NOW HAVE
in the front of the building,
where we have purses, jewelry, home decor, estate furnishings and some
Just trying to do our part in keeping West Frankfort growing!!
LOVE TO ALL OF YOU WHO HAVE MADE THE OPENING OF THIS BUSINESS
SO MUCH FUN!!
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g.l. williams real estate
Home buying and selling should be a great experience. Using an experienced agent who is knowledgeable, flexible, friendly, helpful, caring, and truthful about really helping you can help make this an easier process.
IT'S ALL ABOUT YOU!!!
Bea, Kert, Linda,
Weíre working hard 24/7 for you
to help you thru all your real estate needs.
Stop on by our office at 119 E. Main St and see all the great changes we are making to our building.
The phone lines are:
937-3124 and 937-2121
We look forward to seeing you soon
and as alwaysÖ..
Without you none of this would have been possible and you are what makes our jobs so enjoyable and
why we love real estate!!!
g.l. williams real estate
Celebrating our 14 year in service
And my 25th year in real estate.
For information on my credit company, you can check out www.williamscreditresource.com for info.