As we find ourselves halfway through 2016, the real estate market in Aiken is rocking and rolling. Sales are up, days on market are down. The high end is still sluggish, but if you are looking in the low to mid range, the market is heating up. Read on to see what that means for you!
Impact on Sellers
As inventory continues to go down, buyers have fewer homes from which to choose. This means things are favorable for sellers for a change! For the past few years, we’ve seen a market flooded with properties. This fact, combined with so few willing and able buyers, meant that sellers had to take what they could get or risk buyers walking away to find a seller either more accommodating or more desperate. As the market changes, here are my suggestions for sellers:
- Don’t get crazy! Just because the market is seeing signs of improvement does not mean you can jack up the price of your home. Buyers still look at comps, and properties usually still have to appraise.
- Since homes are typically selling faster now, take the time to prepare your home before it goes on the market. Pack up unnecessary belongings, move them into storage or stack them neatly in the garage. You will need to do it when you sell, so why benefit from a less cluttered home when buyers are looking at it?
- Hire an agent, or team, with knowledge of the market as it stands today. Things are changing fast. Your Realtor needs to be nimble and responsive to these changes.
Impact on Buyers
As fewer homes come on the market and those that do sell more quickly, buyers must be organized and prepared or face losing their dream home to another buyer. Here’s my advice to buyers:
- Get pre-qualified before you start looking for homes. You need to know exactly what you can afford and what steps you need to take prior to getting your heart set on a property.
- Talk with your agent about recommendations for lenders. Contact more than one to see who has the best terms, and which one is most comfortable for you. Not every buyer gets along with every lender.
- Choose an agent who is responsive. The most frustrating thing for a buyer is finding the perfect property, then having to hound their agent to show it to them. One of the reasons we like the team approach is because of availability. No one can be available all the time, but when there are four agents on a team, there is always someone who can pick up the ball and run with it.
Is it time for you to reap the benefits of an improving market in Aiken? Are you considering buying or selling? The Best Life Team can help. We’ll put our experience and resources to work for you. We can help you meet your objectives, finding your way to you Best Life, no matter what that means to you. Contact us today!