Wednesday, April 17, 2013

Tips for Entering the Vibrant Spring North Shore Real Estate Market

If you’ve visited my blog in the past, you know that I enjoy bringing you up to date North Shore Real Estate market information with my monthly market statistics.  As a North Shore Real Estate agent, I feel it’s imperative to educate my clients on the market and allow them to see the reality of the market for themselves.

It’s been encouraging to see the market continue to improve through the first part of this year, and it’s on a trajectory to continue its’ upward climb!  The best recipe for a successful real estate market is when it’s beneficial to buyers as well as sellers, and we’re seeing this in our current North Shore market!

Recently, Coldwell Banker noted that the North Shore Real Estate market is “off to its fastest start since the last century!”  Homes on the North Shore are selling at their quickest pace since 1998, with more homes going under contract from January to March of this year.  In fact, there would be more homes selling if there was a higher market inventory. 

These statistics are great news for sellers, but buyers are also finding good news in today’s market.

Interest rates are still low, but are expected to continue to climb meaning that now is also an ideal time to buy.  With an increase of 4% in the median sales price over the same period as last year, those interested in buying will not find home prices this low and should consider acting with confidence before it’s too late.

Of course as with any home sale or purchase, the decision requires careful consideration.  Here are a few key tips that buyers and sellers will want to note before jumping into the North Shore Real Estate market.


1. Think Long-Term- When buying a home in today’s market, you want to plan for the future. Consider your basic needs such as security, proximity to your job and other daily activities, the school system and room to grow if need be. You want to plan to be in a home for a minimum of three to five years.

2. Be Prepared to Make an Offer- Before you even begin searching for your North Shore home, you’ll want to get pre-approved for a loan. This not only helps you determine your home buying budget, but will make the process run much more quickly once you’re ready to make an offer. This will also force you to get your credit in order and gives you the opportunity to correct any credit issues before entering the North Shore Real Estate market.

3. Live Within Your Means- This is a lesson that our country seems to be learning collectively. We’ve seen the damage that can come from buying homes we can’t afford and digging ourselves further into debt. Buying a North Shore home that fits your budget as it stands now will give the home a chance to appreciate. In the long run, your finances will be healthier and you’ll more than likely be able to afford your dream home next time around.


1. Price Your Home Correctly from the Beginning- This is a vital factor in selling your North Shore home. If you enter the market with an overpriced home, North Shore buyers will immediately cross it off their list and move on to a more affordable option. They have that luxury in a buyers market. The longer your North Shore home sits on the market; the less interest it will receive. You’ll find that waiting for that to happen and then reducing your price will not generate the same excitement that a ideally priced home would in the beginning.

2. Make Your Home Irresistible- North Shore buyers expect only the best, especially if they have the option to be picky. You’ll want to make sure your home shows like a model home and that its irresistible to buyers. Take care of any issues that you know of in your home, spend time updating your home (even if it’s just a fresh coat of paint), and spruce up your North Shore home’s curb appeal. All of these little details will add up to a home that buyers can’t refuse!

3. Make Sure Your Home is Getting Ultimate Exposure- The main element in getting your home sold  and for the highest price possible is exposure. Did you know that over 80% of people search for homes online? Getting online exposure for your home is vital for home selling success. Talk with your North Shore Real Estate agent about how your home will be presented online and the types of sites they use to market your home. A strong online presence for your home is a service your real estate agent should be providing for you.

Buyers and Sellers

*Find a Recommended North Shore Real Estate Agent- Having the right agent journey with you through the home buying or selling process will make all the difference. Conduct research online or talk with family and friends to get their recommendations. Many North Shore Real Estate agents have testimonials on their websites that will give you a good indication of other buyer’s and seller’s experience with that agent. You’ll want to find an agent who has experience in the North Shore Real Estate market and with whom you feel you can work with for however long it takes for you to find your North Shore home.

Want to learn more or take the next step?  Please feel free to contact me today to set up a time to meet!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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