How’s The Real Estate Market
“How’s the Real Estate Market”, as a real estate professional this is the question that everyone asks me. I could be at a gas station, grocery store, coffee shop- it doesn’t really matter. If I am wearing my nametag or a shirt with the Patterson-Schwartz Real Estate logo, I will be asked. I love talking about real estate, so please keep asking! Everday there is a new story in the newspaper, in a magazine, on the internet. Some of the information is even contradictory. People have read in the newspaper how bad the market is, how high the foreclosure rate is, how nobody is buying…
The real estate market is National, regional, and local. In fact it can vary tremendously from neighborhood to neighborhood or even street to street. The market is always changing and it takes a buyer and a seller to decide what the market is for that particular home. There is no market more local than real estate, so what is happening in one neighborhood can be drastically different than what is happening in another. It takes a professional to let you know what is going on in each market.
Although I could go into the details on how the market is nationally, regionally and locally, the supermarket checkout line is probably not the best place to do that(Now, I can do that on my Blog!). What I usually will do is find out why they are asking.
For some people, they are thinking of buying or selling in this market. For them, the answer may depend on the area they are interested in real estate. Some people are thinking about a friend or acquantance that needs to buy or sell. Some people are just curious about what their home is currently worth. For some, it may even be polite conversation (in which case, I have to curb my enthusiasm!).
I can give people the information they need to help them make the right choice for them. For buyers, what they are facing is a market with a lot of choices available to them, and that can be a little overwhelming. Through our conversations, I can find out what they are looking for in a home and eliminate homes that do not meet their needs. Every homebuyer is unique and by really listening I can find out what is most important to them. I can also give them information that will help them meet their financial and personal goals.
Under ideal circumstances, selling your home can be a trying experience. The constant calls asking for showings, sometimes at a moments notice. Not to mention, the emotional difficulty of leaving a place you have known as home sometimes for decades. Couple the normal difficulties with the current market, where some homes will sit for months before the offer comes in, makes these very trying times for a seller. I try to keep sellers updated and informed on both what is going on in the market and what is going on in their home specifically.
I think the question most people are asking is “How is the market where I am interested in living/buying/selling?”, and that answer is what requires a professionals expertise. In future blogs, I hope to give you a sense of where the market is nationally, regionally and by neighborhoods in Newark Delaware. Check out my one of my recent blogs on the 19711 zip code in Newark for the type of information I will be featuring.