Spring is always a popular time of year to buy or sell a house.
News 8 is ‘Putting You First’ to help you navigate the process and answer your questions about the local housing market.
A team of experts from Greater Rochester Association of REALTORS®, Inc offers the following advice:
1. What does the very active market mean for potential buyers? (i.e. an abnormally low number of homes listed for sale & multiple offers/competitive bidding on many homes)
– Buyers need to be prepared and quickly to act in the current market. Many homes are receiving multiple offers within a day or two of being listed for sale
– Buyers should have financing in place prior to making an offer to give themselves the best chance of succeeding
– Buyers should know what their ‘must haves’ are, and what is ‘nice to have’ so they can make decisions quickly
2. Why am I seeing so many ‘Coming Soon’ listings this spring? (this is a fairly new trend in our market, but has been part of larger markets for several years)
– Some sellers need time to make minor repairs or clean up their home so they enter into a contract with a REALTOR®, then market it as coming soon while they prepare
– Some sellers want to make sure that as many potential buyers as possible have an opportunity to see their home so they will list is at coming soon and schedule showings at a future date to ensure that all shoppers can view the property
3. If I am considering selling my home, what are the first things I should do? (many home owners are on the fence, and are unsure what the first steps are, so they delay listing their home)
– Talk to a REALTOR® about what the demand for your home might be, you may be surprised how many buyers are looking for a home just like yours
– Follow the activity in your neighborhood to see what current price ranges are