Spring Market is Here

It's that time of year again!  It's the Spring Market here in the Triangle Area of North Carolina, and along with budding daffodils, blossoming ornamental cherry trees, and the first sneezes from pollen, for sale signs are popping up like crocuses wherever you look.  People often panic to be the first home on the market to beat the rush so to speak, and in fact, I do encourage that if a seller doesn't want to deal with the competition.  However, those who are a little late to the game can also do quite well.  There are two different strategies: be early, set your price and you won't compete with other similar homes, or wait until a few go under contract and close thus setting a price and perhaps going higher as the market heats up.  In some neighborhoods there are multiple offers driving prices higher.  In those areas, arriving a little later to the game might mean a higher price tag and more profit when a home sells.  But let me caution here that by 'later' I don't mean for sellers to drag their feet and take their time.  If they wait too long their home might languish on the market and might not sell during the busiest time of the year.  Then if it runs into Summer, after the kids are out of school, families go on vacation, people travel, it becomes hot and sticky and the idea of driving around in the Summer heat and humidity is not appealing to people.  Then, the serious buyers notice that the home has been on the market much longer than other homes that sold relatively quickly.  They wonder why.  They are critical and scrutinizing.  They are more likely to low-ball their offers.  A home that is priced well and should sell quickly might actually take longer and at a lower price. From a Buyer's perspective maybe waiting is a good thing then but in reality, waiting might not provide the best selection.  Too often Buyers miss out because they think that they might do better at a lower price only to be deeply disappointed to learn that the home they love is sold.  Maybe they would have paid a little more but when the price difference amortizes out over the years we are really talking about a minimal difference of possibly only a few dollars a week.

In conclusion, if you are a Seller or a Buyer, it's time!  Don't delay.  The market is hot, hot, hot. Opportunities abound and the best thing you can do for yourself is to consult with a professional who understands your needs and interests.