For years and years, instead of buying or selling when it’s convenient year round, people wait until spring. In the spring, multiple markets are flooded with an influx of housing inventory and buyers come out of hibernation. Real estate agents, mortgage brokers, home inspectors, roofing companies and many more kick into high gear in anticipation of the busyness.
So, it begs the question, how can a home buyer come out on top in amidst of all the commotion?
Here are 4 things I want you to keep in mind during this time:
1. There Are More Houses On The Market Than You Need To Look At
Spring time is a crazy time of year when Regina’s housing inventory triples over night. We go from an average of 30 new listings a day to 100 new listings a day for the next 4 months. The average buyer looks at 7-14 houses before they find the one, this means that its not necessary to look at all 47 listings in your area. When you find the house you love, go for it and don’t second guess yourself!
2. Keep A Handy Man In Your Pocket
Because homes tend to sell a lot faster in this market, it would be helpful for a buyer to have a service professional on speed dial if they need an opinion on some sort of issue in a home. If the furnace looks super old or doesn’t sound like its working right, try to get a furnace inspector in there ASAP. Calling ahead of time to make sure the company you call will be available will be time efficient. Real estate agents often have people they can call for help on things like this, so before you get started, feel free to ask your agent if they are able to get someone to provide a second opinion on something if needed.
3. This Is The Time Of Year When You Need To Look Extra Hard At That Basement
The soil is thawing and there is extra moisture around the foundation. If can see the concrete foundation inside the home, now is the time to look extra hard for seepage or any other indications of water in the basement. Excessive flooding or heavy rains can also display a leaky basement, but those are freak incidents and not always the home owners fault.
4. Be Ready To Negotiate
Spring time market brings out a lot of seller’s who have been waiting months to get top dollar for their home. They’ve probably listed the home 10-20K higher than what the real estate agent suggested because they want to test the market to see if they can get more. Make sure your agent does a market analysis before writing an offer and be prepared for a counter offer.
Read my article How to Get Your Offer Accepted for negotiation strategies.
Home buyers often wait until spring to make sure they can get the best bang for their buck, not knowing that sellers increase their asking prices during this time of year. Home’s also tend to be subject to more bidding wars at this time of year than any other time because of all the buyers. If spring market has been what you’ve been waiting for, be prepared to make decisions fast. That doesn’t mean you can’t look for the perfect home, but when you find it, go for it!
Get In Touch!
If I can help you house hunt during this spring market or you have questions about any of these suggestions, give me a call at 306-552-7047 or fill out my online contact form.
Kelsey Smith Is Regina’s Choice
Choosing the right Realtor® is key to ensure a positive and successful real estate transaction. Kelsey Smith promises to deliver the education and time necessary to buy or sell your Regina home. Call 1-306-552-7047 and rest easy knowing you have made the right choice.