I have several buyers who are patiently watching the MLS listings for an especially good deal. I’ve also been passing along listings that seem like a good fit. Sometimes buyers have been ready to move quickly, and that’s paid off.
Other buyers were busy with work and family commitments, and they needed to wait a couple weeks before we could schedule a showing. Sometimes that still works out. But other times I’ve requested a showing and learned that another buyer has just made an offer that’s already been accepted. Notice a pattern here???
I’m a Realtor, and of course you’d expect me to say that right now is a great time to buy or sell. But the thing is, right now that’s especially true. Consumer confidence is up, we’ve been seeing some promising economic indicators, interest rates are still low, and our Northwestern Wisconsin real estate market is moving faster than the snow was melting this spring. (April 25 update: snow is gone, lakes are mostly open.) That’s good news for buyers and sellers alike.
If you’re a seller, you’ll still be facing some competition. There’s a lot of inventory out there, and it’s important to have realistic expectations about what your home, cabin, or land is actually worth in today’s market. But prices are more stable; homes priced correctly for the local market are selling quickly. Homes priced on the high side are languishing.
And if you’re a buyer, here are some tips to keep in mind during this transitional market. Even if our market here in NW WI isn’t white hot, it’s at least warming up enough so you’ll need to let go of certain assumptions that are no longer valid. If you find something you like and it’s a good value, don’t assume no one else has noticed it and come to a similar conclusion. Instead, please call me so we can schedule a showing now.
If we go take a look and you like what you see, don’t assume you’ll be able to think things over for even a couple weeks before you take a second look. Someone else with similar tastes may have also seen this home or cabin for the bargain it is. By the time you’ve taken two more months to think it over, their moving van could already be backing up to the front door.
Finally, here’s one last bit of advice. Pursue perfection, but prioritize your wants and needs. Now, not all of my buyers have the same dreams. Some, for example, want a sandy beach, while others want a small quiet lake that’s better for fishing and watching wildlife. But when you do find the location that’s just right for you, you can always remodel the bathroom or replace that pink carpeting in the guest bedroom. Know what matters most, and know what you want so you’ll be ready when you see it.