Morning Glory for Blog Post

Many experts are forecasting 2016 to be a sellers market. I am in total agreement. With continuing low inventory creating increased competition between buyers and homeowners, many sellers are not as motivated to sell and are negotiating harder, so buyers will need to move more quickly than in the past to secure a home that fits their needs and be prepared to negotiate.

Looking ahead to this year, a buyer needs to be early to the market. Traditionally, spring and summer have the highest inventory of homes for sale. Over 85 percent of buyers who plan to purchase in the next year intend to buy in the spring or summer of 2016, according to a recent Realtor.com survey. Now is a good time to begin the process of finding your home.

You should also take time now to comparison shop for mortgages. Mortgage rates are expected to go higher by at least 2% and prices are predicted to rise 3-5 percent during 2016. If you are planning to finance your home purchase you should put as much effort into getting the right mortgage as you do finding the right home. A lower interest rate can make the difference in qualifying for a home and save thousands over the life of the loan.

For sellers, it’s critical they have a good understanding of their local market, and the historical timing of when to put their home on the market so they can optimize the money they net from the sale.

If you are planning to a sell this year you want to list at the very beginning of the selling season. On Whidbey Island that would be late April. Remember there is approximately 3 weeks to a month of pre-listing work for your listing broker to do to get your home and property set up to market, from photos to early advertising commitments. So don’t put that off. Now is a great time to talk to us. The peak of the season is mid to late June, so a few weeks late can cost you the potential of many qualified buyers seeing your home.

Pricing your home is important. In 2016, prices are expected to increase nationally 3 percent year over year. Local prices changes are anticipated to be more dramatic this year with some markets expected to increase by 10 percent and more.

As a Seller, working with a local realtor will optimize the price you get for your home. Last year, 37 percent of all sellers offered incentives to attract buyers. Sellers who are open to negotiating beyond price are more likely to find scenarios that result in wins for both sides resulting in a potentially faster sale and more seller profit.

We have a unique market on Whidbey Island. For both buyers and sellers it is important to be working with a local professional. The investment you make in choosing the right broker can and will make a difference in your over-all satisfaction of the property that you buy or sell.

I look forward to talking with you soon. Linda

Previous post:

Next post: