The air is cooler, leaves are falling .......and the BUYERS are out there BUYING!
First Time Buyers...don't miss out on your $8,000 first home buying incentive! Time is running out.....get in on the excitement and call your REALTOR!
Multiple Bids are NOT a thing of the past! Sellers, price your home 3-5% UNDER fair market value......and try to create a BUYER frenzy..... With so many homes competeing in the actual price range, put your home in MINT condition, price it to GIVE AWAY and you could wind up taking a Highest and Best...and get way over the asking!!! W O W!! What a great idea....we need creative ways and strategies these days to get the job done!!!
On the positive sidel we see that homes are moving. Surely not at the same rate or price or market time, but they are selling. There are those buyers who MUST buy and there are sellers that MUST sell. It all comes down to the meeting of the minds on price. BUT THE FALL MARKET IS HERE AND TYPICALLY SLOWER, SO WE HAVE TO WORK HARDER!!
WHAT DOES THIS MEAN FOR YOU?
Mr. Seller, it means be patient and continue to ride out the storm with optimism,the buyers are out there, they are just reluctant and scared! It will become increasingly difficult for buyers to qualify for mortgages and to get them! Bank Appraisors are saying that a house value reduces by 1% every month it sits on the market UNSOLD! So, get real and price right!!!!
The Buyers are also extremely well educated and versed in the market. They SCOUR all the Real Estate websites and make charts and know all about the market ...or so they think...thats where your realtor comes in! But, there are buyers who MUST buy and who are continuing to look! Remember, BUYERS are still being told by the MEDIA that prices are not at the bottom yet, so.......be patient. Fairfield County does not always follow the National trends, but is considered to be in a declining market.
OUR ADVICE: Since getting any offers at ALL can be difficult, if you are fortunate enough to receive an offer, even though it may be a low ball, work with it. Do counter and see how far you may get. Keep a positive and open mind and remember, if you were the BUYER, you would probably do the same! And remember, there is more and more inventory(competition) just waiting to come on in the Spring!
Mr. Buyer, mortgage rates are still undeniably AWESOME and you can still get a great deal! With home price reductions continuing every day, there are some terrific deals out there that may never come again! SO DON"T WAIT TOO LONG...if it seems like a great deal...it most likely IS! GO FOR IT!
Do NOT waste time with ridiculously low offers, they will usually get you nowhere, and may manage to insult enough where a seller may not even bother to counter. And if you REALLY want this house, you may do irreversable damage. Ask you realtor about List Price to Sale Price ratios and you will see that they are not that far off. Even if you can go higher, keep it respectable.
HELPFUL HINT FOR BUYERS AND SELLERS: Try getting a Bank Appraisal before either Listing or Buying! It is a helpful negotiating tool as well as REALITY CHECK!
Get that Pre-Approval and call your REALTORS!
Call Val and Mary for your Mortgage Representative today!
One thing is for sure: Great Price + Great Condition=SALE
So, sellers, price slightly UNDER the market so you are not chacing it with multiple reductions. INSTEAD,be the market price setter and be the best priced house in your price range. TIME is MONEY and a quicker sale can save so much money and anxiety!
BUYERS: It's a smorgasboard out there!! Go for it!!!
AGAIN.... Sellers, MARKET TIME IS STILL AT AN ALL TIME HIGH and that fact, coupled with 17 houses in your price range to compete with...can be tricky!! SO, BE THE BEST PRICED HOUSE IN YOUR PRICE RANGE....EVEN BETTER, STAY ABOUT 3-5% BELOW!! Ask your realtor how the market/inventory has changed in your price range since you first listed and should you reduce in order to stay at a competitve List Price?
MORE GOOD NEWS-Interest rates still averaging @ 5.5% for a 30 year fixed!
SUNDAY OPEN HOUSES DOMINATE THE
WEEKENDS! GO OUT AND SEE FOR YOURSELF!
SELLERS-Be the BEST priced home in your value/market/price range!!!!
BUYERS-Don't wait too much longer for your house to "keep reducing"....BUYERS are out there and your house might be G O N E when you least expect it!
LETS KEEP BUYING AND SELLING OUT THERE!
ZIP Codes: 06850, 51, 52, 54, 55, 56 Approximate Location Boundaries: Wilton, Westport, Darien and Long Island Sound
Location Characteristics: Multiple diversity both cultural and social aptly describes this exciting and unique town. Norwalk has a rich history in it's Silvermine area, ocean frontage with magnificent homes in Rowayton and Darien, beautiful landscapes of woods and hills, multiple condominiums from the chic new SONO lofts to older more traditional condo settings. Fabulous water views and beaches, Norwalk offers marinas, wonderful seafood, the Maritime Center and so much more.
About Mary Higgins & Valerie Wyman:
THE TEAM TO TRUST- Val Wyman and Mary Bozzuti Higgins have been a dynamic duo since their partnership began. Mary, a 36 year Wilton native and Val a 25 year resident are consistent Top Producers and well integrated members of the Wilton Community, they represent 21 years of Real Estate experience. They bring a unique blend of knowledge, care and expertise to all their clients. Visit our website- ValandMary.com- for more information.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
