It’s a sellers’ market in local real estate | Local company
Broker and owner of Farmington’s KBH Realty Group, Kim Briese said she is noticing the seller market starting to soften.
âI think that’s starting to change a bit. The seller’s market is starting to soften,â she said. “We still have a shortage, but it is improving. I have several announcements in the works.”
Briese has previously said that it is difficult to get people to list their homes because in order to sell their home they have to find their next residence.
“Some are considering renting, but there has even been a shortage of rentals, especially if you have pets.”
Like many other agents, she has seen a lot of clients from out of state or large cities, some of whom are interested in moving to a rural area with more purchasing power, now that they are telecommuting to to work. It also results in increased competition for houses, multiple bids and bidding wars.
âLast year we could show 3-4 properties, they could choose one from the bunch. Now everyone is on their own – they have to. Sometimes the houses are under contract even before they go. be listed, âshe said.
His advice? âHave your pre-approval ready to go, have your funding read and be on call at all times,â she said. âYou have to be ready to go when there is something in the market that matches your criteria. In this market, if you see a house that has been on the market for more than two weeks, there is something unwanted about the property or the price is too high. “