Hold on Tight!
It sure looks as if 2017 will be a wild ride. Changes in business regulations, government policies, interest rates and more could certainly steer us in an entirely new direction.
As Realtors, change is steadfast. Market trend shifts, inventory fluctuations and prices that move up and down are just a few of the areas we deal with daily. If an agent isn’t fully prepared and able to keep up with the incredible pace, consequences can be massive. Constant real estate schooling and research is essential. Always investigate the continued education policies of the firm you choose work with. In the end, it could make a huge difference in your closing!
Several days ago, our team learned a few important nuggets we’d like to share with you.
- Sale contracts will be changing in the upcoming months with changes affecting both buyers and sellers alike. Buyers will need to be extremely proactive and prepared with loan documentation because the new contracts call for a shorter timespan to obtain financing as well as an option for sellers not to extend the loan period. The details have yet to be finalized, so stay tune for more on this topic.
- Owners living in subdivisions with Home Owners Associations will need to provide more documentation to buyers at the time of an offer. If you currently have an HOA property listed, be sure to check with your agent for the timelines you must follow in providing buyers with the Declaration, Rules and Regulations, minutes from the most recent HOA meeting as well as the most current budget. Not having this information readily available could cost you a sale! If you are thinking about selling, now is the time to start getting these documents together. While these items are readily available through your HOA management company, there could be a fee.
Manatee County single family home market update:
In Manatee County, closed sales in December 2016 were down by 8.2% from December 2015, cash sales were down 27% for that same time-period. Foreclosures were down 59.2% and short sales down 42%.
Looking for more market info? Don’t forget to visit our booth at the Parrish Chili Cookoff! Not only will you get a tasty sampling of delicious chili, you’ll be able to mingle with some of the best Realtors around!