Get Ready — This is Not Your Usual Spring Market!

By
Real Estate Agent with Long & Foster | Christie's International Real Estate Licensed in DC, MD, VA

It’s Going To Be More Active

Spring is officially here.  Buyers and sellers are ready once again to participate in the most active home market period of the year.  Sellers have painted everything inside and out and finished mulching their garden beds.  Buyers have drafted their wish lists, review their favorite real estate websites daily (or more frequently) for new listings, and are armed with their lender pre-approval letters.

Here is a great window of opportunity.  Know that this not your normal Spring Market.  Things are different:

  • Buyers have been out for weeks in the warmer-than-usual weather. 
  • Interest rates are still the lowest in history but just now rates  and some fees are beginning to tick up a bit.
  • The promise of release of shadow inventory is putting pressure on sellers to set very realistic prices.  The shadow inventory will siphon off eligible buyers from the regular stock.
  • Sellers are pricing more appropriately —and many even compellingly.  The days of pricing high and negotiating down are over, because buyers see more attractively priced right nearby.  The overpriced inventory doesn’t even rate the time for an attempted offer.
  • To top it off, only the most experienced real estate professionals weathered and remained active in the slow market.  Those experts are available to provide so much good advice and more information than is available online.

Challenges Are Being Addressed and Resolved -- by Experienced Realtors®

The next 60-90 days are going to be active and exciting for buyers and sellers.  The deals and timelines can be fast-paced and complicated.  The challenges presented by the economy are being resolved:   

  • New contracts and addenda are required in some jurisdictions. 
  • While great bargains are few and far between, many good buys are out there.
  • Lenders terms and qualifications have changed.  Pressure points have shifted. 
  • More homes are short sales and will take longer to settle, and more REO properties will be released for sale. 

Both buyers and sellers need experienced negotiators as their real estate professional to be sure they get the best results, top dollar, and no surprises.  Locate a full-time Realtor® with a record of successful recent transactions who can help you avoid the pitfalls and to give you peace of mind. 

 

Posted by

___________________________________________
F. Hill Slowinski, JD, REALTOR® in DC, MD, and VA
W.C. & A.N. Miller Realtors, A Long & Foster Company
Christie’s International Real Estate
#9 Agent in Washington Metro Region

4701 Sangamore Road, Bethesda, Maryland  20816
Tel: 301-229-4000  Fax: 301-229-4015
Direct: 301-320-8430 · Cell: 301-452-1409
Email:  Hill@LNF.com

HOMES WORTH BUYING ™

 

Comments (3)

Sabina Kelly
Team OC Realty - San Clemente, CA
San Clemente Area Specialist

I've definitely felt more activity here in Southern California as well.  Many buyers are out and about looking to by and our inventory has dwindled!

Mar 23, 2012 12:30 AM
Carla Harbert
www.LorainCountyHomeSales.com - Avon, OH
RE/MAX Omega: Lorain-Medina County Area

I think you are oh so correct, this is not our typical spring market. Our March temperatures in Ohio has brought out early buyers - but it also helps to have great interest rates & home prices that are attractive.

Mar 23, 2012 12:32 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

What did you say this 2014 Spring ???/ Good news for this blog post - http://actvra.in/4hVj  !!!

Jul 01, 2014 08:54 PM