Early March is normally when the weather begins to break and we start to see some glimpse of Spring on the horizon. This year that glimpse seems like a universe away. I am eager, as I am sure many of you are, to feel the warmth of a new season and break from this stranglehold winter has on us. The real estate community has also struggled through the winter months as housing inventory is about as low as the temperatures have been. Low Inventory at this point in the year means one thing; Many sellers are sitting on their homes until the weather breaks, allowing them to potential garner the biggest bang for their buck on the sale of their home. I have spoken with many realtors recently who mention that they have several sellers waiting for nicer weather because they are worried their houses won’t show well in 10 ft of snow. I can certainly agree and understand their worries. On the lending and financing side we have seen dips in rates over the past few months which help boost some overall business and the refinance applications taken but the purchase applications are still pretty stagnant across all banks due to this low inventory.
When the snow melts there is no doubt there will be flooding, but we need the market to flood with those sellers still frozen in place on the decision to list their home. Due to this low inventory it is definitely a seller’s market still.
If you or someone you know is looking to list their home or plans on moving soon, please allow me to help in the process. My experiences and connections provide access to a group of qualified and respected realtors, title agents, movers, financial advisors, and insurance agents.