So far 2019 appears to be a continuation of the same trends we've been experiencing over the past 2 to 3 years - strong demand, low interest rates, and a shortage of homes for sale. Unless we have a major national and/or international crisis, the economic conditions are pointing to another strong year in the real estate market. Now's the time to sell your house and take advantage of historical highs.
I'm expecting more homes will hit the market in the spring and summer months, which will be a welcome relief for so many buyers who have been biding their time in hopes the perfect home will pop up. Smart sellers will get a jump on the market right now and not wait until spring to list. At the moment we have a painfully low inventory: 144 homes for sale in the greater Wenatchee Valley market. That's way below the "normal" market inventory. If you list your home with a good Broker at market value, you'll be moving on with your life within 30 to 90 days.
Buyers will need to do their due diligence in the home search. It will take a concerted effort to find the right home at the right price, but with much effort comes big rewards. I can help you navigate the choppy waters. The sooner we meet and discuss your wants and needs, the better.
Here's my advice for buyers:
- Get pre-approved for financing.
- Get out and look at all the homes in your price range ASAP!
- Be prepared to look at all new listings ASAP!
- Have patience and wait for the house that meets "most" of your wants and needs on your "must-have" list.
- Communicate with your significant other and work on the art of compromise.
- Educate yourself on the market so you can recognize good value quickly.
- Tell your Realtor about any changes to your wants and needs priorities.
- Make offers and negotiate according to your own perception of value and personal motivation.
- Don't get too attached before the inspection and appraisal are completed.
- Consider a 1 year AHS home warranty to cover any repairs.
This year will be another record-setting year for the NCW real estate market. If you'd like advice on your specific situation, get in touch with me and we'll make it happen.
Thanks for your business and referrals, too!
All the best,