The spring buying market is here and if you hope to purchase Incline Village, NV real estate this spring or summer, you will need to arm yourself with info so you can act accordingly. The good news is that if you align yourself with an experienced and qualified Incline Village, NV Realtor, they can be a great resource and guide. This helps cut down on questions and stress as you have someone working on your behalf to help you navigate this exciting journey. Now, most buyers begin their quest to purchase homes for sale in Incline Village, NV with the big question “What is the market doing and where is it headed?”. This can be tough to answer sometimes as the market can change quickly. Here are 4 tips to keep in mind as you head into homeownership.
The Seller’s Market Is Calming Down
For the past few years it has seemed as though buyers were signing their life away just to get their offer accepted. Whether it was waiving inspections, adding escalation clauses or offering waaayyyyy over asking, sellers controlled the market in a big way. With inventory on the rise and prices slowing down, the market has become more balanced and the sellers no longer hold all the cards. You still need to come to the table with a competitive offer, but you will likely have some more room to negotiate and less competition from other buyers. This is great news for buyers looking for homes for sale in Incline Village, NV.
Look At The Comps For Accurate Pricing.
Both buyers and sellers rely on comps, also known as comparable solds. These are similar properties nearby that have sold in the last 3 months. This is how an Incline Village, NV Realtor determines what a fair market price is, whether it is for coming up with the listing price or helping draft an offer. When you look at the comps, you know you are getting the most accurate number. This also saves you from insulting a seller by lowballing.
While most major markets have calmed down a bit, a hot, sought after neighborhood may not be playing by the same rules as an area down the road. Your Incline Village, NV Realtor will be able to explain further, but in a nutshell, there are still areas that are considered desirable and have low inventory, which means they may still be in a seller’s market. This is another reason why the use of comps are so important: what applies in one neighborhood in the same town, may not apply in another.
Interest Rates Are Still Low
The good news is, the Feds recently indicated that we may be done with increased rates for the year. While that remains to be seen, this is great news for people looking to purchasing homes for sale in Incline Village, NV. Prices are starting to level out, we are seeing more inventory and you can still lock in a great rate. This is the perfect time to call Incline Village, NV Home.
For more information on the Incline Village, NV real estate market, feel free to give us a call. We would be happy to help you with your home buying journey!