HOME BUYING AND SELLING IN A CHANGING MARKET
Home prices in Vero Beach (just as in Florida overall) have been steadily increasing. Inventory is still somewhat tight so that trend, on its own, could very well continue for the near future. Activity in the home market has been brisk over the last year with an increase of 13% in total sales and an increase in the average sales price of 6%1. Mortgage rates remained low so buying power was high. This has been good news for both buyers and sellers.
As you may know, however, the Fed has finally begun to raise its key interest rate as confidence in the economy grows. It seems pretty likely that mortgage interest rates will also rise from these historically low rates we’ve seen over the past couple of year. As interest rates go up, buying power goes down. That can have the effect of decreasing home prices. We here at The Star Team do not have a crystal ball, but the one thing that seems certain is uncertainty about where the market is going. We do have strategies in place to help our clients in this environment whether they are buying or selling or both.
WHAT THE MARKET MEANS FOR BUYERS AND SELLERS
- Sellers can look at this as an opportunity to sell their home and take advantage of the upswing in the market. Because inventory is somewhat low, they have a chance to increase the pool of potential buyers. Our marketing is specifically designed to make sure everyone in the market for a home like yours gets a chance to see it. Maximizing exposure increases sales prices.
- That doesn’t mean there aren’t opportunities for buyers. When the market heats up, more people put their home on the market and a well-prepared buyer can find a great home.
- In a changing market, it is more important than ever to have a qualified agent on your side. We have the expertise to help you buy or sell your home at the right price. Changing markets increase uncertainty and if you don’t have the right resources, you risk leaving money on the table in a sale or overpaying when buying a home.
- Responsiveness is just as important as expertise. All the knowledge in the world won’t help you if your agent isn’t available when you need them. That’s why The Star Team has three equal partners, all available to help our clients when they need us.
STAR TEAM ADVANTAGES
- Cutting edge marketing. In an era of increased competition, the right marketing is important to help your home stand out and get the price it deserves.
- The power of three. The Star Team has three agents who are fully qualified to help any of our clients at any time. In addition, we all add our distinct talents to the team and that means good results for clients.
- The Sotheby’s brand. Sotheby’s is internationally known as a premier luxury real estate brand. This association allows us to better market your property and tells buyers that your home is worth seeing.
- Focus on customized client satisfaction. We strive to make our clients happy, of course. But more importantly, perhaps, is that we learn from you what your needs are and what will give you that happiness. Too often, customers are all treated the same and that doesn’t always work.
- In addition to Sotheby’s excellent branding and marketing, we supplement that with our own in-team ad design and marketing strategies. That guarantees you an innovative and unique marketing program customized for your needs that will stand out and give your home the attention it deserves.
1Florida Realtors, November, 2016, “Market Data.” http://media.floridarealtors.org/market-data/