What New Year’s resolutions should 2019 buyers and sellers make?
With changing demographics, rising interest rates and political uncertainty, the 2019 real estate market is certain to be challenging. To be successful in 2019, our professional resolutions are to rededicate ourselves a deep knowledge of the market, outstanding traditional and digital marketing and always putting the interests of our clients first. We also have some suggestions for our buyers and sellers:
1) Buyers and sellers should resolve to work with a Realtor. When the market is tricky, having an expert guide is vital. You will enjoy the experience and knowledge of someone who has participated in the sale and purchase of hundreds of homes.
2) Get pre-approved by a mortgage company or bank and know what your monthly expenses will be. Factor in property taxes; oftentimes the higher Greenwich list price is offset by its significantly lower tax rate.
3) Create lists of must-have and would-like features, and share that information with your Realtor so you can see homes that are likely to work for you. Beyond the number of bedrooms and baths, consider your need for privacy or neighbors, travel time to work and school, and the long-term potential for the home to meet your needs.
4) Be realistic about price expectations. Buyers and sellers should be prepared to negotiate in order to get the deal done. Your Realtor will provide both comparable sales data as well as directional information on the market. A home’s value will not necessarily be the same as it was a few years ago, as some locations have become more desirable, while others have lost some of their appeal. This is also true of home styles, when once it was ‘the bigger the better,’ and now young buyers are looking for manageable homes that give them time and funds to devote to travel and leisure activities.
5) Be prepared to renovate. If you are looking for a good buy, look beyond the current paint colors, fixtures and landscaping. Walls can be painted or even moved. A new kitchen can reflect your preferences.
6) Sellers, keep your house in pristine condition, which indicates to buyers that maintenance has been a priority for you and will mean fewer problems down the road for them.
Sharon Kinney and Margi Vorder Bruegge, Douglas Elliman Real Estate, (203) 536-2014 Sharon’s cell, (203) 912-8311 Margi’s cell, email@example.com, firstname.lastname@example.org