Spring is heating up and the housing market is too! Statistically, homes fetch the highest price in early Spring. Inventory has exploded with a 46% increase of homes available versus this time last year. The catalysts for these market changes have not changed, and will continue to control. The number one factor is affordability. Increased taxes, interest rates, insurance costs, and higher prices continue to put a damper on brisk sales.

February marked the first tax notices being sent out by the assessors' offices. Ideally, you were successful in protesting valuations. Last spring, we provided data to many of our clients that resulted in a successful protest of their eye-popping tax valuations.

Sellers must be prepared for two rounds of negotiations, as buyers continue to have more inventory to choose from. Pre-listing maintenance is very important. Buyers will want to get the best value for their decreased purchasing power by aggressively negotiating inspection items after the initial pricing negotiations have ended.

Early January provided quick relief in interest rates and a short window to lock in a rate below 7%. Today, Freddie Mac is quoting 6.88% on a 30-year fixed loan. Insurance coverage has also become a challenge in the metro area; it is important to know if you can obtain coverage prior to submitting an offer.

Our expertise and decades of experience can help you navigate this evolving market.