Adjusting To The Market

Feeling nervous about what’s happening in real estate?

Team Ken Richter can guide you through today’s changing market. Whether you are a first-time buyer looking to take advantage of lower prices or a homeowner looking to sell in a time of high-inventory, we will help determine your best plan of action.

If you are buying: Falling prices mean that there are deals to be had if you are a first-time buyer. With high-inventory, you have more homes to choose from, and with homes staying on the market longer, you have more time to make a decision. You have more negotiating power now than in the frenzied, bidding-war market of the past. It’s a good time to buy if you are looking to move to a larger, more expensive house. You may have to sell your home for less but you’ll also pay less for your new home. A 5% drop in prices works out to $15,000 less on a $300,000 home and $25,000 less on a $500,000 home—a $10,000 difference in your favour. Get pre-approved for your mortgage. In today’s market, lenders are increasingly cautious, and you should determine what you can afford before you begin your search. In preparation for pre-approval, make sure your credit rating is good.

If you are selling: The buyer has more choice in today’s market. Your house needs to distinguish itself from many other homes for sale; therefore it needs to be in excellent condition. Do any necessary repairs and consider cosmetic changes that may make it more appealing to buyers. Staging your home can increase the chances of a quick sale. The buyer has more negotiating power now. Your home needs to be good value for the price. We can help you determine a fair listing price for your home in today’s market. Selling your home may take longer than in recent years, so it’s important to be patient.

Whether you are buying or selling, I will provide you with great service and expert advice to help you through the process. My goal is to work hard and serve your best interests—that’s a promise! Contact me any time to discuss how I can assist you with your real estate needs. Thank you! – Ken Richter 

Your Real Estate Professional,

Ken Richter

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