What’s Happening So Far in the Spring Real Estate Market?

Hoboken Real Estate Podcast with Brett Sikora

What should you expect from the 2018 spring real estate market? I have some good tips on what to keep an eye out for.

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What’s going on in the spring market of 2018?
One thing that I’ve been seeing quite a bit lately is that for multi-family owners, the numbers have changed significantly since last year.
Another thing is that if you’re looking to purchase a home and you need to sell your current home first in order to do so, keep in mind that it’s still a seller’s market, so you should be able to find a buyer easily.
On the buyer’s side of things, you’ll definitely need to be as aggressive as possible. You’ll probably need to have your current home under contract before you buy a new one. Fortunately, since it’s a seller’s market, you can dictate exactly what’s going on in that transaction. A lot of times, the buyers that are purchasing the homes you’re selling don’t need to be in there at a certain time; they’re usually month-to-month rentals, they might have a lease ending, or they’re staying at home.

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When it comes to putting offers on properties, I always say to come in strong.

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We can start with a contract and include a clause that says the purchase of the home is contingent on your finding your home in a certain period of time. You can also get a leaseback contingency, where you have 60 days to occupy the home post-closing.
When it comes to putting offers on properties, I always say to come in strong. If there are multiple offers on the home, you’ll need a strong number to be accepted by the seller. We hate to see a tough negotiation in which the price is driven down quite a bit, but then a second offer comes in and starts to look much better to the seller.
If you have any questions about the spring market or buying and selling a home, please feel free to reach out to me. I’d be glad to help.