Friday, December 6, 2019 / by Pamela Glende
This week we are at a 1.3 month inventory in a strong seller’s market. That is a slight increase in inventory from last weeks update of 1.2 months of inventory.
I believe it went up slightly because many people were busy with Thanksgiving and holiday shopping so there weren’t as many people looking at homes last week.
Home prices continue to increase. We have growth in the economy and new business coming to town.
Homes aren’t staying on the market long if they are priced at true market value. There are plenty of home shoppers out there trying to find a home. Rentals are hard to come by and folks do want to be homeowners. It’s still a strong seller’s market here in Spokane, Washington.
If you’re trying to find a home, it is so important that you have a lender and that you’ve turned in all needed documentation to get a stellar preapproval. You’ll want a letter that states that the lender has verified all needed information such as credit, debt to income ratio, employment and 2 years of your tax returns and assets. The better your lender preapproval letter the better your chances on getting an offer accepted on a home. Let’s face it the competition is tough out there.
If you’re thinking about selling your home, it’s a great time as it is still a strong seller’s market. You still should have a professional real estate agent do a market analysis on your home. You’ll want to price the home correctly. You’ll need a great agent who can advise you on staging and getting the home ready to sell. You’ll want to hire a real estate agent with great reviews. Make sure they do use a professional photographer. After all most home buyers are shopping online before they ever step foot into a home for sale. You’ll also want a brokerage like Haven Real Estate Group who has and does great marketing, wonderful reviews and a great team of expert agents to help you get the most for your home.
I’m Pam with Haven Real Estate Group. Let me know if I can help?