The more things change, the more they stay the same.
Realtors, locally and elsewhere, have been noting a “shift” in the market the last couple of months. As listing brokers, we had gotten used to putting a house on the market, setting a review date, and having multiple offers to sort through within days. As buyer brokers, we worked hard to prepare buyers to persevere through disappointment in this feeding frenzy, and then celebrated when we “won”!
Since last year, we have more than tripled the number of homes available for sale in Bellingham; interest rates have nearly doubled; more listings are seeing price reductions; and realtors are asking why showing activity has been so slow.
With all this change, the rules of the real estate industry have stayed very much the same: Good condition, good location, and correct pricing will get your home sold!
I started in this industry in the depths of the Recession (2010), and have now experienced and learned from the full range of market fluctuations.
Congratulations to my sellers, who closed today on the home they raised their kids in. They did the hard prep work and presented it well; we listened to the market and priced it right. From list date to handing over the keys, 19 days passed. And it sold for list price.
More than ever, buyers and sellers would do well to work with a professional to achieve their real estate goals.
I’d be honored to work with you.
Taking the Long View in Real Estate
