Buying and Selling in Today’s Market

May 12, 2011

Real Estate in Bryan College Station has been a hot topic as of late. Here’s a little Q&A with local real estate Broker Margie Stibora to get her take on what she’s seeing in the market and how people can advantage of the favorable climate for buyers- even if they have a house to sell first.

What changes are you seeing in our real estate market right now?
I am actually encouraged by the increase we’ve had in activity. Over the past few weeks in particular, we have been getting a significant increase in activity and contracts on our listings at a rate we haven’t seen in awhile.

Do you believe that the market is making a significant recovery?
No one can truly know for sure, but I am optimistic that we are heading in a positive direction. I do believe that full recovery will be very gradual, as it has been in every cycle that I’ve experienced.

What are the residual effects of last summer’s big real estate dip?
One of the residual effects has been the surplus of available homes. The surplus had been culminating over time, but last summer definitely gave the number a big bump. More people have been selling (often out of necessity rather than choice) than have been buying. As you may know, real estate sales and new listings tend to follow a bell curve pattern, peaking over the summer. Yet last year, sales took a huge tumble mid summer, while new listings surged, contributing to an oversupply of available homes. To illustrate this, here is an interesting look at the number of new listings in the month of August over the past 5 years:

8/2006: 346
8/2007: 345
8/2008: 284
8/2009: 295
8/2010: 543

How has this affected buyers and sellers?
Buyers know that now is a great time to buy. They have plenty of properties to choose from. Sellers know that they have to work hard to make their home competitive. In today’s market, I often walk into seller’s homes before we list them to find that they have already put so much effort and energy into making the home spotless and well staged in order to make their home competitive. This hasn’t always been the case, but today’s sellers are well aware of the work they have to put in.

To what do you attribute the increase in activity?
Many people don’t want to pass up this opportunity to buy in such a favorable market. Interest rates remain low and the generous number of available homes is just too good to pass up. Many families who have been wanting to move into a larger home have been prompted to take advantage of the favorable market right now. I am hoping that this trend continues because the perpetual increase in activity will be great for the strengthening of our market.

What about people who want to buy, but are skeptical that they will be able to sell their current home?
I would advise calling their Realtor as soon as possible to discuss your goals and concerns. It is ideal for homes to be on the market during the late spring and summer to take advantage of the busy real estate season. Your Realtor will be able to closely examine the activity in your price range and neighborhood in order to maximize your home’s chance of selling. The bottom line is that homes are still selling. With an experienced Realtor on your side, you can increase the chances that yours will be one of them.

What can sellers do to make their home more competitive?
Do everything in your power to make your home look its absolute best. Landscape the yard and keep it well manicured. De-clutter your home. Give your home a thorough, deep clean from top to bottom. Wash the windows. Stage your home with only basic furniture and minimal decorative touches. Many people rent a storage unit for all the excess “stuff” in their homes. Effective staging defines each space, but more importantly, it causes buyers to look at your home rather than your things. It’s amazing what a difference this makes. As for affordable improvement projects, remove wallpaper. Apply fresh, neutral paint. Update outdated plumbing and lighting fixtures. Add flowers, shrubbery and mulch to your flowerbeds.

It is also important to mention that pricing is key to keeping your home competitive. Let your Realtor guide you towards effectively pricing your home.

Why are Realtors so important?
The exposure that a good Realtor will give your home is tremendous. With all the competition out there, you want to make sure your home is highly visible and actively promoted by your Realtor. They will be looking out for you and promoting your best interest.

What can you personally offer to clients?
Ample experience and genuinely personal service. After 34 years of real estate in the Brazos Valley, I still love the satisfaction of delivering a great experience to my clients just as much as I did when I first began. I can’t tell you how much I love my job- and I have been told how much that enthusiasm conveys to my clients. My team and I will work hard for you and give you our best to ensure positive results and a pleasant buying and selling experience.

Even if you are only entertaining the idea of buying and selling, I encourage you to give me a call. My team and I will be happy to meet with you to discuss the possibilities.

Have a question or something to add? Join in the conversation here!

Tags: Ashford Square Realty, BCS Real Estate Market, Bryan College Station Real Estate, Buying and Selling in College Station, Margie Stibora and the Key Team

This entry was posted on Thursday, May 12th, 2011 at 9:19 am and is filed under Blogpost.
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