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Fall Real Estate 101
A group of us were talking yesterday about how the fall real estate market always catches us by surprise. Always.
We
had, I think, about 100 years of experience between us. (And the room
wasn't crowded, but that's another article.) You'd think we would have
learned by now.
It
starts the day after Labor Day like someone threw a switch. Not the
gradual build up we get as late winter turns to spring. It's like
getting in a time machine and suddenly it's the middle of April, only
we're tan and sort of sluggish. The phones light up (thank you.) Our
email boxes fill with notifications of new listings. Signs pop up all
over town. And we go from the arguably slowest weeks of the year (late
August) to just about the busiest. Overnight.
The
hardest part for us is helping buyers and sellers understand what a
very short window of opportunity we're talking here. Two months - maybe
ten weeks depending on the weather and how early Labor Day fell - and
then we slow down for the holidays and for the winter.
For
sellers, that's ten weeks to get you ready to show, on the market and
negotiate a contract. Fortunately, low inventory and rising interest
rates are creating such high demand that marketing times are short,
prices are rising and negotiations fairly straightforward. It's the
beautifully presented homes which are leading the market though so as
much as ever, it pays to stage! Putting the effort into being sure that
every last detail of your property really, really shines before we order
that sign up in your front yard will come back to you tenfold. For my
scrambling sellers out there this week (you know who you are) - keep
going! You're doing a great job!
For
buyers, this means no dawdling, as my mother used to say. If we're just
beginning your search we need to get you pre-approved with a good
lender and need to get out there to see a bunch of houses now so you'll
know it when IT comes. Even houses you don't especially fancy or want to
buy - as long as they are in the area and price range, we need to do
the leg work. And when a good one does come along, we should try to see
it the same day it comes on the market. That way you'll have time for a
second look if necessary. Then we'll want to get an offer in right away
because waiting for the open house these days just isn't realistic.Some
agents wait a few days to give all interested parties a chance to come
forward, but not always. Plenty of good properties are selling 'first
come first served" and even a day can mean disappointment. Even when
they wait, a good agent will often note who showed the first interest,
an advantage that can tip the balance if your offer is essentially tied
with another. In short, evenings, lunch time, whatever works.
If
you're thinking about a move, give us a call! We're here to help
whatever the time of year - but the more lead time we have the better we
can help you plan.
Everyone enjoy this lovely cool weather!
Barbara, Tom, and Susan
Nalls Home Partners
