In a Hot Market, Be Ready to Make a Move

If you’re looking to buy or sell a home, you don’t want to be unprepared in this seller’s market. Housing prices have risen over the past year and the inventory has dropped significantly, so Realtors Jennifer Grosskopf and Barbara Mandel at Coldwell Banker Preferred offer their advice so you’re not bombarded by the competition.

“If the house is in great condition and priced right, I am finding some of my listings getting multiple offers and higher than asking sales prices,” said Realtor Barbara Mandel. “Since we had such a long winter we are finding low inventory.”

It’s so low that Realtor Jennifer Grosskopf said buyers are sitting by their computers just waiting for things to pop up and then, it’s a race to make an offer.

“The difference between now and 2 or 4 months ago is you are not going in with an offer and looking for a counter; you’re going in with the highest and best offer,” Grosskopf said.

For buyers, Grosskopf said to have your preapproval and be ready to see a property as soon as you can. “If you snooze, you lose. One day can actually make a difference,” she said.

Sellers are showing their properties to a group of potential buyers and giving them a time frame to submit the highest and best offer, according to Grosskopf.

Mandel said now that the weather is starting to break, sellers are motivated to make the move. “If you want a great price and your house to sell fast, list it with a professional now,” she said.

“If you were sitting on the fence to maybe purchase or not, now is the time,” Grosskopf said. “Come on sellers, sell now is the time. We need more inventory.”

For more information about selling or buying your next home, click here.