The month of March has been cold and dreary here in the Raleigh area. So, when I say that it’s time to get ready for the spring market, many people think, “Spring market? It’s still winter!”
However, despite the cold, spring has definitely arrived. The spring real estate market has sprung. I recently looked at all homes listed on our MLS in the last 30 days, and I found that 62% of those properties are already under contract.
This tells us that the market is at a blistering pace. So, today I’d like to bring you some tips on how to prepare if you plan to buy or sell in our spring or summer market.
Let’s start by talking about buyers. If you’re thinking of making a home purchase this year, I recommend that you do so sooner rather than later. Interest rates are sliding up a little bit and many predict this trend will continue into the future. So, make your move as soon as you can.
The first step to take as a buyer is to get with a good lender and get pre-approved. This will give you a good starting place for your home search. Once you’ve met with a trusted local lender, you’ll need to find a good agent. The right agent will not only be able to help you strategize your home search, but they will also be able to help you find properties that haven’t come to the market yet. Additionally, a good agent will help you make faster decisions, which will be beneficial in our fast-paced market.
As for sellers, you may want to wait until the summer to make your move. This is especially the case if you have children since they will be out of school during this time and more family-style homes tend to be listed at this time of year. That said, now is the best time to focus on getting your home ready for the market. That way when it comes time to list, you will be well-prepared. Listings are moving quickly, but more inventory will be coming to our market soon.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.