How Can it Be October Already?
This month the market continues to be a mixed bag of tricks and treats! Sellers are still in a sweet spot as appraisals are now matching up with sales prices on a regular basis. Just last week I heard two appraisers make comments about the unbelievable real estate appreciation they’re seeing. If you’re thinking of selling your home, great news—it may never be worth more than it is today. But, then again, who knows in this wild market!
For buyers, it’s more of tangled web. Some are taking a step back, realizing their dollars are not going as far as they did a year ago, even with the interest rates remaining low. Bidding wars have created mass fatigue. Those in the first-timer category are continuously getting bumped out by seasoned buyers with stronger credit scores or more cash to work with. Though some buyers are willing to buy sight unseen, with no inspections, no other contingencies and paying at the top of their budget, traditional buyers worry nightmarish repairs might be right around the corner and they make a hard pass. Eeks!
Perhaps the most frightening aspect of the homebuying experience may rest with your choice of an agent. Do you really know who you’re dealing with? We’re beginning to see agents from North Orlando to South Miami work our local area. As realtors, our Florida license permits this, but it can be ill advised. No one agent can be an expert in every region. For the best results, Buyers and Sellers should seek the advice of agents who live and/or work in their designated market every single day. They need an agent who can explain “risk vs reward” specific to the area. Agents who have a stellar reputation for service and local knowledge are always the safest bets!
It’s anyone’s guess how long these market trends will continue. For now, keep buckled up and grab a pumpkin spice latte. We’ll keep cruising into fall with vigor!
A few updates-
Our office move has become a bit trickier than we anticipated, but as tell our clients, always anticipate delays. We are now hoping for a November/December opening but will keep you updated as we know more. Keep checking our website for progress reports.
Proud momma moment—though even if she wasn’t my daughter, I would be so proud to have her as part of our team! I am talking about Madison Wells, super star agent, who was recently named one of 5 REALTORS to watch, under 40, Class of 2021 by the REALTOR ASSOCIATION OF SARASOTA MANATEE. Congratulations Madison on being recognized by your peers for your achievements in real estate!!