March 6th, 2015 12:44 PM by Taydus Taydus
We are just barely three months into the new year, and I have already been asked countless times to predict the 2015 housing market.
The word on the street is that this year’s Boulder County housing market is not going to be any better than last year. Low inventory driving up demand and property values are predicted to continue to rise.
So what does this mean to you? It means you have to shop or list smarter. During this extremely competitive market, it is more important than ever that you work with a licensed Reatlor ®
Buyers: Speak to a lender and have a good understanding of what you can and cannot afford. Be realistic about the cost of housing in the area in which you are looking. With spring and summer right around the corner, there may be a bit more inventory but there will also be more buyers to compete with. Understand that the home that you may think is “perfect” will most likely be the perfect home for at least one other buyer – remember, they too are feeling the pinch of this tight housing market. That said if you are looking for a “deal” you may not be in the right market. Homes are selling fast, and many times with multiple offers for well over their asking price. There are strategies you can use to make your offer more appealing to a seller:
These are only a few suggestions. In this market you need to be prepared to move fast and submit a strong offer when the right home comes along. This means you need to have liquid funds available if you are paying cash, or a strong pre-approval letter ready to go if you are securing financing.
Sellers: Use a licensed Realtor ® to list and sell your home. You will not be saving any money by listing the home yourself. Cutting corners and offering reduced commissions and limiting your marketing will only leave you scratching your head wondering why your wonderful home is not selling in today’s hot market. The time spent sitting on the market, the offers that don’t come together, and the risk of making a costly contractual or disclosure mistake far outweighs the cost of hiring a good Realtor ® There is a reason a good Realtor ® takes continuing education classes to keep up on the latest contract changes as well as all of the latest changes within the industry as a whole. There is a reason we carry error sand omissions insurance (and hopefully never use it). There is a reason we are licensed. Have you noticed the “®” symbol after the word Realtor ®? That is because not all real estate agents are “Realtors” ®. The term “Realtor”® is a registered trade mark and as a Realtor ® we are held to a higher standard of excellence. Realtors ® put a lot of time, education, and effort into learning how to market and sell homes. Why would you try to take on this dubious task with no level of expertise in this area?