Two Things Sellers Need to Know This Spring
As we all know, there has been much that’s changed over the past year…and you might also be wondering what’s in store for the spring housing market?
If you’re planning on selling your home this season, here are two important things real estate experts are saying you should be aware of:
1. HOUSES THAT ARE PRICED RIGHT ARE STILL SELLING
That’s right, homes that are updated and priced at their current market value are still selling. Many regions still have low inventory as well, which makes it a great for listing your home. Jeff Tucker, Senior Economist at Zillow, says: “. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.” The need to price your house correctly is crucial today because the market has changed so much over the past year or so. Danielle Hale, Chief Economist at realtor.com, explains: “With a smaller pool of buyers today and more competition from other homes on the market, home sellers will likely need to adjust their price expectations in the market this spring.” Again, this pertains to those areas that have a lot of inventory. The Bend and Central Oregon areas are such a desirable location, that inventory has been in favor of sellers, which makes is solid market to be in!
While the spring housing market is different than last year’s, sellers with healthy expectations who lean on an experienced Realtor® for the best advice on pricing their house well, are the ones still finding success. This is great news if you’re thinking about selling, and if you’re in the Portland or Bend, Oregon areas, you know who can help you move forward with your real estate needs…me!
2. BUYERS ARE STILL OUT THERE
Mortgage rates are unfortunately still high and volatile, which has caused some buyers to halt their home buying plans. However, there are still plenty of reasons people are buying homes today. Lisa Sturtevant, Chief Economist at Bright MLS, spells out the mindset of today’s buyers in many areas: “For some buyers, higher mortgage rates simply means buying a home is out of the question unless home prices fall. For others, higher mortgage rates will be a hurdle, but ultimately won’t keep them from getting back into the market after sitting on the sidelines for months.” In addition, there are other opportunities to consider when looking at buying a home…like interest rate buy downs and other options that a seasoned real estate broker like myself can help you with…so don’t call it quits until you’ve looked at your potential possibilities.
If you’re interested in selling your home, condo, ranch, duplex or similar this spring, it’s helpful to work with a real estate broker who can help connect you with the buyers who are ready to purchase!
THE BOTTOM LINE
There are still many opportunities out there for sellers this spring and in this market and economy. If you’re wondering if it’s the right time to make a move, connect with a trusted real estate advisor.
Get more on Keeping Current Matters.
If you’re thinking of listing your property, or if you don’t own a home, condo or similar, and are interested in buying, let me know so I can help walk you through the current market conditions, as well as all the resources and referrals I have from my many years of success in the industry. As an 11 year, Five Star Professional Real Estate Agent, knowing that no matter what is happening in the economy, and especially now, you need an exceptional real estate broker as your ally…and you’ll be in great hands with my team!
Please reach out, I’m here to assist and help you #moveforward,
Teresa Catania, Broker
West + Main Homes
West + Main Homes Oregon
Bend Oregon | Central Oregon | Portland Oregon
503-740-3293
teresa@teresacatania.com
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