Every year around this time, The President of the US gives their State of the Union address. I like to take this time to give my State of the Market which gives a snapshot of where we have been and a peek at where we might be going in regards to real estate.
Regardless of which side of the aisle you sit, many of the things President Trump discussed are having a huge impact on real estate and housing across our country. Locally, the strong economy, raising wages and low interest rates are prompting buyers to seek housing, which is in short supply. After a brief increasing of inventory in Spring 2019, with the corresponding slight dip in prices, buyers came out and absorbed most remaining inventory going into the year end.
Below are my main take-aways, (click here for my entire 2020 State of the Market)
- Sellers –
- We need your home if you’re ready to sell.
- Use the ‘Costco approach’ and list early to beat the crowd and get more buyers – I recommend by the end of March, not April which is the traditional wisdom.
- Start packing! Properly priced & presented homes sell & close quick!
- Buyers –
- Start looking early.
- Get your financing in order to make a strong offer.
- Call me to discuss & analyze your particular property type, but the market remains strong for sellers and opportunities are out there for buyers.
Thanks for making 2019 an awesome year, I look forward to hearing from you!