Wednesday, August 21, 2013

How to Prepare for the Fall Real Estate Market

The fall market is the second-busiest time of the year for real estate. People want to conclude their home buying and selling before winter, and the temperatures drop to comfortable levels after months of hot, muggy weather that traps people inside air-conditioned havens. The fall real estate market starts just after the last of the summer vacation wraps up, and it can be a highly competitive arena.

Buyers, what might your to-do list look like for August? A few suggestions: Make sure your pre-approval letter is updated and that your lender/mortgage broker is standing by to customize that letter for the offer that you will be making. Select the right real estate broker/agent to work with, one who is on the same page with how you like to work, and on top of the market, both the inventory and the temperature (important in a multiple-offer situation). Know the inventory; go to open houses on the weekends to finely tune what you want and don’t.   If you do find a home that you're interested in buying, don't wait to put in an offer; make an offer as quickly as possible if you're truly interested in a home, as even a delay of a day can mean someone else gets their offer in before you do.  It is a highly competitive market and you do not want to miss out.

Sellers, get to work putting your house in proper order for your sale. Clean up the yard and do some pre-market planting now so that the plants will look more established when your lovely home makes its debut. Meet with your stager to walk through your house. Together you can determine what painting needs to be done and the extent of cleaning required to optimize the interior spaces for showing. Search real estate listings for homes that are comparable to yours. Note the upgrades, the age of the home, the size of the lot and the curb appeal. This knowledge, along with the help of your Realtor will give you a good idea of how to price your home to sell.

The market is still going strong. If you are considering selling or buying this year it important to know tat interest rates are still incredible.  Homeowners who have been thinking of moving are getting ready to act on their thoughts and take advantage of the fall real estate market, so don't miss this opportunity!
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