Not only does summer bring hot weather, but also a new season in the real estate market. While the heat is quench with lemonade, the second needs tips on how to survive in the real estate market when it is hot.
Many licensed real estate agents in Virginia claim that, even though the market may seem really hot for buyers as well as for sellers, both sides shouldn`t lose hope to make a deal. But to do so, you need to know how the market works, what the current trends are, and what challenges may be faced.
To start with, you should take a closer look at the market in Virginia. Top real estate agents in Richmond have noticed that a prominent event that has played a significant role in the market was a decision made by Amazon to move its corporate headquarters to Virginia. It is a natural effect as this decision means many new jobs. A bright example is that a year before Amazon moved its main office you needed approximately 80 days to sell real estate in Virginia, and after that, the number of days decreased to 63. It is an incredible result within the year.
Generally, the real estate market in Virginia is a sellers’ market rather than a buyer`s. Demand-side is much higher than the supply side. Therefore, it is common to see how buyers try to make their offer more attractive to a seller. On the other hand, buyers know what they are looking for and with a help of a professional realtor won`t set up for a worst-case scenario. A good realtor will do everything possible to guarantee his client has an intelligent investment. Nevertheless, inventory is relatively low now, so sellers may get many advantages such as high interest, sound money, and, of course, win time, which is really important in the real estate market.
For a professional realtor, a new season is almost the same as for a client in the sense that it is time to look for new strategies and marketing models as well as a new client always means a unique way of coworking and communication. Some clients pay more attention to statistics and numbers, while others are willing to work with someone who is more like a friend than an employee.
According to data, the market is up at the moment, and will probably keep growing. It generally means that a good moment to buy or sell real estate is right now. However, what has been noticed by many professionals, before making such a decision it is worth thinking carefully about all aspects. It is essential to stay open-minded and consider all possible options. For example, even if you have already decided that you want to live in that neighborhood, it is still a good idea to take a look at the different one, if the realtor supposes so. Sometimes it may bring something positive we could not think of. It is believed that before making your final decision, you should visit from 10 to 15 houses. Only then you do have the chance to understand the extensive situation in the market.
The price is one of the most important aspects while buying or selling property. It is a common problem when a seller sees his house as a paradise on Earth while a buyer considers the most minor flaws. Therefore, there are different expectations and, of course, different suggestions on what to do. The main idea is that both sides should keep calm and stay objective. At least to try so. Not only should the price of real estate be taken into account, but also the amount of money that should be spent or has been spent on its maintenance.
People who want to sell their property must pay extra attention to staging. To cut a long story short, staging is the process of preparing a house for sale. It involves not only cleaning but redecorating and new furniture arrangement as well. A real estate agent is most likely to provide his clients with such service, but it is wise to clarify this before signing the contract. And in general, planning is the best thing you can do. Going for sale at the last minute is not exactly the best idea. If you plan to move, start thinking about how you will sell your current property. Some clients contact realtors even more than a year in advance before moving to another place. In that case, you will have enough time to complete all necessary preparations and deepen into all the details.
And as for buyers, it is worth remembering that it is not only an investment in your future house but also your lifestyle. Consider the shops you will go to, the school your children will attend, the people you will meet, infrastructure, safety, and so on. It is a truly important decision, especially if you plan a long run with this property, for instance, settling down and bringing up children.
As mentioned before, buying or selling your house is a very important step in life. And the best advice is to take it when you are entirely sure about that decision. Always listen to your heart and inner voice which will tell you what is right and what is not.