August Tide – Guy’s Market Update

Hello Friends, It’s been an eventful year in the local real estate market. After last summer’s dramatic price increase, the fall through spring months were marked by Buyer’s seizing the moment after years of waiting on the sidelines. There were 2 types of Buyers during that time. There were Buyers who were aggressive and bought, even if they had to pay more than they anticipated amidst multiple counter situations. Those Buyers have improved their homes, settled into their new neighborhoods, and are enjoying walking to farmer’s markets and beaches and everything else this area has to offer. Then there are the Buyers who bid low time and time again and are still renting or still trying to find and purchase their 2nd home. It was a tough time for those Buyers and I really feel for the ones who just missed on a couple properties that would have worked great for them. Meanwhile, prices continue to slowly rise and those Buyers who waited are now paying more than they would have had they been aggressive 6 months ago. My advice to those Buyers; Don’t let yourself remain caught in that cycle of regretting not getting in 6 months ago. You’ll be saying the same thing 6 months from now. Find a Broker you can trust, find a property that makes sense for your needs, and get into the market. There is plenty of upside opportunity out there, both in the short and long term. (I’ll have more to say on local areas of opportunity next month.) Interest rates are still fantastic! Don’t let yourselves miss out on that too. My advice to Sellers; it remains a great market for you as well, with lots of able Buyers and low inventory. Let me know if you’d like a free consultation on your home’s present value and specific market information from your neighborhood. Enjoy your summer! Guy