Buying and Selling in Today’s Market

While it is true that there are some buyers and sellers who have experienced challenges in today’s real estate market, there are many others who have had great success! Below are some tips to consider when buying or selling in the current market.

Buying in Today’s Market

The best strategy as a buyer is to review your financial situation, shop multiple lenders, and strengthen your credit score. It is important to be in a solid financial position before diving into the buying pool. That way, when you find the right home, you’ll be better prepared to act fast in a tight market. Today’s market is still competitive, and to be successful as a buyer you must be prepared by having your financing lined up, have a clear understanding of what you can afford, and constantly check prices and listings. You should know how much monthly payment you can afford, including taxes and insurance.

Buyers sitting on the sidelines today in anticipation of lower prices tomorrow may end up disappointed. Instead of waiting for much lower prices, experts suggest buying a home based on your budget and needs. If you find a home you love in an area you love, and it also fits your budget, then chances are it may be the right home

Selling in Today’s Market

In March, mortgage rates ended the month over 30 basis points lower than where they started, and more buyers returned to the market—good news for sellers! In addition, the housing supply remains limited. Though the market is not as crazy as we saw in 2021-2022, we are still seeing multiple offers on many listings.  

The first step for a successful sale is to find a listing agent who knows the area and comes highly recommended. Don’t hesitate to check them out online, (e.g., website, social media, Zillow), review testimonials, and interview them. A good agent will work closely with you to price your home competitively while fielding questions and offers from prospective buyers.

Present your home in the best possible light to obtain the best possible price. Not everyone has money to complete big scale renovations and repairs, but a little sweat equity can go a long way. The first step is to declutter, organize, and clean. Consider having your home staged. A talented stager will show off your home in its finest light, playing up the home’s features and making your property more appealing to a larger pool of buyers. Tidy up the yards, add new bark, and spruce up the landscape with new plants and flowers. Maybe even add a seating area out back to expand the living space! 

Make sure to talk with your real estate agent early on to create a plan for preparing your home to go to market. Acting on advice from your agent makes it much more likely that any investments in time and money pay off!

Debbie Austin is a realtor associate with Keller Williams, Roseville and has been helping clients buy and sell property in the area for 19 years. If you have a specific real estate question you wish to see addressed, contact Debbie at (916) 223-8144 or visit debbieaustinrealty.com.