The School Year Crunch Is On

by on July 21, 2016

As the summer rolls along, the real estate market is quietly moving in the background. While many sellers decide to take their homes off of the summer off or rent them when they hadn’t sold in the busy spring market, this summer, we are seeing a very busy June and July for homes going under contract and an uptick in showings in all price points.

What does this mean to you, the buyer or seller?

1)  Deal are being made. Buyers took a long time to make a decision this season and they are now committing as we get closer to the start of the school season.   These buyers are very serious, and understand that now is the time to buy as interest rates are close to historic lows and in many segments of the market, prices have come down to a new level where buyers are now seeing the value.

2) Sellers are ready to sell.  The motivated Sellers have listened to their feedback and have reduced their prices to a level that is within negotiating range. These sellers are willing to entertain a reasonable offer from a ready, willing an able buyer, and are willing to sell at what the market can bear.  We hear it over and over again, “Bring us an offer that we can negotiate.” We are encouraging our buyers to write an offer if they have interest even if they do not see value in the current asking price. If the house is overpriced, and not receiving offers, buyers feel the seller is not motivated, and therefore feels they can wait, however with the school year fast approaching, we are seeing lower offers being presented, and the motivated sellers are very receptive to negotiating, assuming the buyers are qualifed and interested in making it work.

We hear it over and over again, “Bring us an offer that we can negotiate.” We encourage our Buyers to make their offer if they have interest, even if they do not see value in the current asking price. If the house is overpriced, and not receiving offers, buyers feel the seller is not motivated, and therefore feels they can wait, however with the school year fast approaching, we are seeing lower offers being presented, and the motivated sellers are very receptive to negotiating, assuming the buyers are qualifed and interested in making it work.

3) The Market is Busy. The market continues to be busy despite the rumors. While we see the days on the market increasing, we are also seeing a steady level of under contract homes. In the month of June, all but 2 towns reached the same number of under contracts in the month of June as they did in 2015, the only difference was on average a days on market count that was 7 days longer in 2016.

Each member of The Sue Adler Team is an expert in navigating this market and helping our clients get the best possible results. Call us at 973-936-9129 and let us put our skills to work for you. Whether you’re selling or purchasing a home, big or small, we sell them all, and are here to take the stress out of it for you.

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