Long Island Market Watch
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| February, 2013 |
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THE SPRING MARKET IS HERE |
| Coldwell Banker Residential Brokerage |
Real estate experts and economists agree that the real estate industry is gaining momentum. If you were hoping to put your home on the market for the traditional Spring selling season, be advised that Spring has already sprung.
Need proof? Here are just a few of the latest headlines from some of the most respected news organizations:
Essentially, low interest rates, rising rents, and a positive economic outlook are driving buyers who want to realize the dream of homeownership. With limited housing inventory, buyers are competing against one another for those properties that are priced well. The competition is resulting in bidding wars, which is driving up housing prices.
The message is clear for sellers. Right now is a prime opportunity to sell a home. Sellers need to ensure their property stands out from the competition with proper price positioning and home presentation. If the home is priced right, and is in good condition, it will sell.
Buyers shouldn’t sit on the fence either. With a lack of inventory, competition for that perfectly priced dream home is becoming fierce. Come prepared with solid financing, be ready to make a quick purchase decision, and be reasonable with your offer and expectations. In some communities and price points, the buyer’s market has already tipped towards a seller’s market.
As all real estate is local, what may be happening in some parts of the country may be different than what is taking place in your community. Look to the graph to see the trends taking place in the area that most interests you.
If you still need help deciphering the information, contact a Coldwell Banker Residential Brokerage sales professional who will provide you with a competitive market analysis and review current market conditions with you. Your sales professional will use this information along with a review of current inventory, recent comparable sales prices and other data to advise you.
In addition, your sales professional will know which properties currently on the market will impact you, and can guide you on the optimal listing price to sell your home. If you are buying, they can help you decide an appropriate purchasing price so you can make the right offer on the right home for you.
Changing seasons are inevitable, so take advantage of this season while it’s here.
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Phillip King, Suffolk Realtor, Coldwell Banker Residential Brokerage, 5018 Express Dr. S Ronkonkoma, New York, http://www.philliprking.com, phillip.king@cbmoves.com, 516-241-6264, 631-588-9090, Real Estate Long Island, Long Island Real Estate, Homes For Sale Long Island, Long Island Homes, NY Real Estate License, Long Island Condos, Houses For Sale Long Island, Suffolk Real Estate, Long Island Home, Long Island House, Long Island NY Homes, Suffolk Houses For Sale, Condos For Sale Long Island, Suffolk County Condo, Long Island Houses, Houses For Sale, Brookhaven Township, Islip Township, Ronkonkoma, Village of, Holbrook, Lake Grove, Holtsville, Farmingville, Selden, Centereach, Sayville, Bohemia, Blue Point, Bayport, Oakdale, Patchogue, Medford, Bellport, Brookhaven, Mastic, Shirley, Manorville, Center Moriches, Moriches, East Moriches, Eastport, Miller Place, Mount Sinai, Shoreham, Wading River, Ridge, Rocky Point, Coram, Middle Island, Yaphank, Babylon, Bayshore, Smithtown, Nesconset, Hauppauge, Residential, Resale’s, New Construction, Builders, Investors, First-time Buyer, Vacation Homes, Short Sales, Listing Agent, Buyers Agent, How to
Phillip King Lic Real Estate Salesperson
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