Leaves May Be Falling But Home Sales Are Not

October 23, 2020
Leaves May Be Falling But Home Sales Are Not

The Fall season is a particularly great time to list your current home and purchase a new place for you to call home. By acting in the Fall you’re able to plan your move so that it’s done and you’re moved in before the cold and snow arrives for winter. Plus it is without question that the Fall season provides us with a gorgeous backdrop, for a house to shine up against.

Like the picturesque season of Fall, the September real estate market has been anything but dull. There has been a tremendous amount of activity at the beginning of the Fall market, even more than predicted.  Sales rose significantly in September over last month and last year, and the average price is up 10 to 20 percent in all of the Halton & Hamilton communities for those same time periods.

                     

 

Sellers Are Calling The Shots

Every seller wants to get top dollar for their biggest investment and this is always one of the key motives for sellers. The current boisterous market has created it so that sellers are essentially ‘calling the shots’. By this we mean, with little inventory, multiple buyers are getting involved in the offer process with the hopes of purchasing the same property.  We all know that only one of the potential buyers’ offers will get accepted, which will send the rest home unhappy and still looking for their next home.  In this scenario, sellers are calling the shots as they technically get to pick and choose the best offer for them, highest price, best closing date, etc, there is very little if any negotiation done this way.  This also means that if you’re on the move as a seller, you’re definitely best buying first, as we know your house will sell quickly, you don’t want to be caught with your house sold and nowhere to go.

 

Buyers, Prepare Yourselves

So, buyers, what does this mean for you? Well, all buyers that are active right now are moving faster than this time last year to beat out competition and lock in low mortgage rates.  As stated above homes are not sitting on the market for much time, despite notably higher price tags.  Working with our current buyers we have noticed that despite the fact that we are quick to act on a home of their liking there are so many others out there being just as proactive to score the perfect home for them. Considering our overactive buyer population and potential for competition, buyers need to be prepared. The first step one should always take in their home buying venture is to find out what they are preapproved for by their bank or a lender of their choice.  We can help with that and connect you with the right Mortgage specialist for you.  Once you know your affordability, you will now have to prepare to act quickly and with our help be on top of the market and ahead of the game as new listings come out or are about to be released.  The CRESI team is a part of RE/MAX and our network of agents is huge and therefore will be able to best help you on your hunt for a new place to call home. Once we find you a home and you want to make an offer, our team will help guide, advise and consult you throughout the entire process and while prepping our offer.  If we’re in a competition we tell all our clients that we want to put your best foot forward, whatever that may be and we always tell our clients we have to be happy if we win and happy if we lose.  After all, it’s just a HOUSE, you will find a place to make and call your HOME! The CRESI Team is here to help you.