My 3 P’s for a Changing Market
As we head into a shifting market the conversations I’m having with my clients are taking on a new tone once again. Interest rates are up, buying power is down and some homes are staying on the market longer than 5 days (gasp!). Last summer the brokerage asked us if we could tell Buyers & Sellers one thing, what would it be?
My answer: be PREPARED, PATIENT & PERSEVERANT.
It’s important to work with an agent who is keeping up with the changing market. Have a plan before you start shopping for homes or listing your home on the market. Get an pre-approval with current rates to fully understand your buying power. If you are gearing up to sell this summer, spend extra time discussing pricing strategy with your agent. Past sales data is a great starting place but understanding the nuances of the changing market is also extremely important right now. Take your agent’s advice on how to get your home ready for the market – buyers are soon going to have more choices & will not feel as rushed into selecting a home. Make sure your home stands out!
Make sure to go over expectations with your agent before listing your home. In 2022, market time has decreased by 21% compared to 2021 however that is expected to change. Especially as we head into the summer months where things typically slow down a bit. If you are heading out to start home shopping, know that fewer listings may be coming on the market in July & August. Take your time if you can!
These next few months (maybe years) are going to look a lot different than what we are used to. If you find yourself with a home staying on the market longer than a weekend, it’s going to be ok. Have a plan and communicate with your agent regularly. Buyers who have been fighting the good fight, writing offer after offer may start to find some relief with less competition. If increased rates have lowered your buying power, talk to a lender about creative options that may work for you. Don’t give up!
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Broker | Earth Advantage | OR
True job love!
One of the things Robin loves most about her work in real estate is that it never feels like “work” to her. After working as a merchandise manager for some top local apparel and home brands she found her way to real estate and will never look back. She is that rare combination of business smarts meets creativity and her skills are well suited for real estate. She has the analytical background necessary to help both buyers and sellers with numbers and negotiation, as well as the creative vision to help clients best prepare their homes for sale. As a native Oregonian, Robin has lived in NW Portland and NE Portland and the SW suburbs. She has worked in areas all over the city and has seen the changes to the area over the last 10+ years. When she’s not at the office or out with clients, you can find her taking a barre3 class, hiking, enjoying family time, volunteering at a school and enjoying local theater arts. Robin is passionate about understanding the needs of each client and will work hard to help you realize your goals. She is dedicated to being a complete resource for you before, during and after your home purchase or sale. One of the aspects of this process that she values the most is the relationships she builds with her clients. Buying or selling a home can be stressful and Robin is here to work though it all with you. Read More
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