Don’t give up hope, we will have a spring season soon, and, yes, we will have a spring real estate season too. In fact, I found a parking space on the street in Central Square. And, this week I noticed twice as many properties are on the market in Cambridge and Somerville than only 3 weeks ago.
Being cooped up inside since February 1st, has only made buyers and sellers anxious too get going. Open houses have been jammed, multiple offers on properties are the rule, and when we get one warm weekend it will seem like a bell ringing the race to a start.
If you plan on selling it might be a good time to check on the outside of your property; did the gutters and roof receive any damage, how did the plantings around your property survive the huge piles of shoveled snow, is your basement keeping out any water from the snow melt? It’s likely that most companies dealing with these issues will be very busy this spring so I suggest you get on it sooner than later. If you need any recommendations for contractors etc., please contact me.
If you plan on buying, you might re-connect with your lender. The economy has continued to improve so eventually the Fed will be considering the first raise in interest rates in almost nine years. Since there has been very little inflation, a raise in interest rates is probably overdue. So talk to your lender, maybe secure a rate lock so you can still benefit from the historically low rates. If you have not spoken to a lender don’t delay any longer. With the rush to available, you don’t want to delay making an offer while you try to get a pre-qualification letter. Many properties are calling for offers on Mondays and Tuesdays, and without a letter indicating your ability to buy, you are likely to lose ut to ready to buy competition. If you don’t have a lender that you’ve worked with, please contact me for some recommendations.
And don’t let the competition scare you off. Not all successful offers are the highest ones. I can tell you that having a well connected agent, one who has personal relationships with other agents can be the difference. When I sell a property I want the buyer to be represented with an agent who I know can complete a transaction, because we all know a transaction must work for both parties involved. This is a process so let’s get all “your ducks in a row”.