The general idea in obtaining a good feel for the market is to spot trends. Trends in home showings, pending sales, final sales, and new listings. Grand Traverse County real estate has sent mixed signals. This could be due to our long lasting winter season! New listings are down from last year, with an ample amount of buyers searching for homes. Buyer demand is very strong right now. Homes from $200,000 and under have a significant listing shortage. The only concern with this price range is the slower pace of new listings hitting the market. Although this is frustrating to buyers, it benefits home sellers by pushing up home values.
The 200k + segment is benefiting from the the inventory shortage of the 200k and below. With interest rates still low, many are finding these homes more affordable. There is a surge of inventory with new listings hitting the market. The home values have risen in the past 60 days as well. We can expect this segment to rise in the next quarter with buyers gaining increased buying power and moving up in the market to find homes to purchase.
The message is very clear to any homeowner who has contemplated selling in the past 5 years....get an updated market valuation, you will be surprised at what your home is worth today!
Thursday, April 24, 2014
Wednesday, April 16, 2014
Seller's Rejoice
Selling in today's market is quite different than it was 2 years ago... even 1 year ago. The ball seems to be more in your court. You are faced with multiple offers, and back to back showings, which has given you, the home owner a sigh of relief. Offers are coming in higher and with less contingencies. It's close to a perfect world for you. If it sounds too good to be true, it's NOT. There are a couple things to remember though before you put a sign in your yard.
1. Clean up around the yard. Now with snow(mostly) gone, it is important to pick up any debris that may have been forgotten about for the last 6 months.
2. Keep the home clean and organized! I have personally noticed this is a huge factor for potential buyers. They want to see everything orderly. It makes them feel that the home would be easy to keep clean, and there are places for all their belongings. HUGE DEAL :)
3. Get rid of any musty odors or smells that are a TURN OFF for buyers. Keep a clean, neutral smell and everyone wins!
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