Monday, August 15, 2022 / by Jennifer Haubner-Vories
The Housing Market is Simply SHIFTING
Contrary to what you've been hearing- the sky is not falling! The real estate market isn’t going to crash & burn like some of the over-dramatized news outlets are warning. It is simply shifting into a new real estate housing market that we haven’t seen in a few years! We know- it’s definitely different than what you’re used to the past few years, but this new market we are coming into is actually much more common & stable than what we have been going through the last few years since Covid-19 began! What we have been in is what you may have heard called a “sellers” market. Meaning it was a better market for those selling homes & the homes selling quickly, fewer open houses, multiple offers being considered, & less consideration from the buyers because of demand. We are now going into what is known as a “buyers” market. Where the buyers will now have more time to consider their options, more incentives to build & buy, & much more time for homes to be on the market.
What Does That Mean for You?
What does this mean for you? We’re glad you asked!
It will mean something different depending on what you are planning to do, buy or sell.
Buying A Home:
If you are planning to buy a home over the next few months, there are a few things you need to know- you will now probably have more time to look through your options of homes on the market since they will likely be on the market longer than they have been the past few years. With that being said, be WARNED! This does not mean getting lazy in your home-hunting journey! Make sure you do your due diligence & do your research, hire a trustworthy Realtor, choose a lender you can trust, get pre-approved & make sure all of your ducks are in a row so when it’s time to get the ball rolling for real- you can do just that!
Selling A Home:
If you are planning to sell a home over the next few months, there are a few things you need to know. The most important thing to know right now is to BE PATIENT! This housing market is different from what we’ve seen in the past few years. It's imperative that you understand the houses will be on the market longer from here on out (until another shift comes) & that is OKAY! This market is actually far more typical than homes selling in 24 hours. In addition to being as patient as possible within this process, make sure you hire a great Realtor with your best interest in mind! Be sure everything is up-to-date & functioning well in your home, & it is clean & ready for walk-throughs. Be sure you prioritize getting professional pictures taken of your property. People shop online before seeing a home in person, so the first official walk-through is online! So make sure you leave them speechless- calling their Realtor immediately! Lastly, stay calm & know that your home will sell! It might just take some time.
The Vories Team has been in the real estate industry for over 13 years! It’s safe to say we have seen almost anything you could imagine with real estate, making us the best option for you & your family to help you buy or sell a home! We specialize in all things real estate, including but not limited to; investing, buying, selling, & building new. We can help you get started in your real estate journey today! Visit our website or give us a call today. 1833-VORIES1.