Real Estate: spring has sprung in real estate

Real Estate: spring has sprung in real estate

The season of buying and selling

When do you know when a cycle is over? When another begins. In real estate that cycle can turn off and on very quickly. You may have noticed that over the fall season homes began to sit on the market a little longer than they were earlier in the year. Well, having recently listed a (3) bedroom, (2) bathroom home in Tigard, we were a bit surprised at the avalanche of activity received.

Every home has its’ challenges and this one included being on a flag lot and split level, which was wonderful to receive the flurry of calls and showings on the first day, demonstrating that the market has kicked off for the spring season.

In January, there was 3.3 months of inventory, which is the most we have seen in January for over 4 years. Buyers get ready. Pricing has shifted to be more affordable so now is a great time to buy.

While sellers are downsizing items preparing for garage and estate sales, buyers can be getting pre-approved for financing, going to open houses and visiting those sales because they can be an indication that a home is coming on the market.

Another tip is to make sure that you have set aside funds to pay for inspections, which depending on the size of the home can run between $600- $1,000, which includes a general home inspection, radon and sewer scope. Another upfront fee will be your appraisal cost if you are obtaining a loan, which can vary from $500 – $750 depending on the lender.

The selling and buying season is upon us, do what you can to be ready buyers using the steps above and you will be in a better position to move quickly when you find the house or condo you want to call home.

By Kimberly Shute: If you would like to learn more about real estate and move management services, please contact Kimberly at 971-227-1302 or visit www.pdxmaturemoves.com.  At PDX Mature Moves, we serve seniors through real estate and move management services.