It's Time

Having been in real estate for over 20 years, I have experienced many housing trends. I have seen inventory favoring the buyer at times and the seller at other times. Trends change constantly, it's a matter of taking advantage of the trend when it is in your favor. If you're buying a home and not selling, it's better to buy when the market is favoring the buyer. When the market favors the buyer, it's usually when the prices of homes are lower and there are a larger inventory of homes on the market to sell. If you are a seller, who will sequentially purchase another home, it is usually better to move up to a nicer home at this time. Think of it this way, if the market recovers 10% on a $300,000 home it will increase $30,000, compared to a $150,000 home increasing $15,000.00. With the $300,000 home, your profit would be $15,000 more than the $150,000 home.

Every day lately proves to be a busy day in real estate; homes are selling faster and prices are increasing. With homes getting multiple offers, many are selling well above list price. As mortgage rates increase and inventory decreases, the homes around the St Louis and Jefferson County market are sometimes selling before hitting a week of being on the market. If you're on the fence about buying a home, it's best to not wait any longer. You have two things going against you: prices and interest rates. Interest rates continue to tick higher. Waiting until next year will cause you to pay more for a home and have a higher payment as interest rates will likely increase.

Consider these aspects when choosing a qualified agent:

• Are they a full-time agent? If they have a supplemental career, then will they be on call when you need them to sell your home? As an example, would you trust a doctor with a surgery who does it part time. If the answer is no, then why trust a part-time agent with the largest purchase in your life? 
• You will be working with them until your home is sold or bought - personality counts. Can you work with them? Would you want to work with them again? This is a relationship that is worth cultivating since you need to trust your agent with their experience and knowledge. 
• Is the agent well experienced? Most experienced agents have dealt with many different situations and can handle the "bumps" in the road with past knowledge, smoothing them out.

If you know of someone who is looking to buy or sell, I would be more than happy to start a conversation with them. Please pass my name on to anyone who is even thinking about making their next move.