Although the market is cooling, the team at BOLD Real Estate Consultants can help you get top dollar for your home
By Mitch Allen
If you ask the team at Bold Real Estate Consultants to describe the local housing market right now, their answer sounds a bit like the lyrics of a rock ‘n’ roll song: “It’s cool, but it’s red hot.”
“The market is beginning to cool, but there is still plenty of activity,” explains Bold consultant Sajag Patel.
“For most of the spring and summer, we saw lots of multiple offers and homes selling for above the asking price. That’s less likely now, but there are still plenty of buyers and sellers trying to get deals done before the fall.”
“Buyers became frustrated when they made an offer and were outbid by someone else,” adds Bold’s Linay Lencioni. “Some buyers are just taking a break. Homes were selling within the first few days of listing. Now we’re seeing closer 14 to 30 days.”
Still, there are plenty of reasons to buy or sell right now. Chief among them is the direction interest rates are going.
“The Fed recently raised interest rates and has announced that four more hikes are likely coming—two more this year and two more next year,” Sajag says. “We’re just not going to see 4% interest rates anymore, so people really want to be in their new home before those increases take rates well over 5%. That’s one reason market values are still pretty good.”
And because buyers are paying top dollar right now, they expect homes to be in good condition.
“Homes that are priced right and in good condition are moving quickly,” Linay says. “But you’re not going to get top dollar if your home needs a new roof, new heating and air conditioning or updated appliances. Buyers have high expectations. That’s why we invest so much energy into staging and photography. Your first showing is always online and your home needs to be presented in the best light.”
To this end, Bold engages professional stagers and photographers to maximize your home’s online appeal—and they pay for it, not you.
“I’m shocked at some of the pictures of homes I see online,” Linay says. “In some photos the kitchen is a mess, there’s a dog in the photo, or the lighting is completely off. You just can’t do that. And you need a lot of photos. If potential buyers see just a couple of photos, they assume something is wrong with the house.”
Marketing your home is key and Bold just added a new team member dedicated exclusively to marketing the team’s listings.
In fact, Bold—which is affiliated with Keller Williams Greater Cleveland Southwest—has built a full team of specialists that helps homeowners maximize their profit on the sale of their home and avoid costly pitfalls.
Unlike a traditional real estate company in which a single agent must be a Jack or Jill-of-all-trades-master-of-none, Bold team members specialize in each aspect of buying and selling a home, including 67 different tasks associated with a closing—from appraisals and inspections to utility transfers.
Regardless of the housing market—cool or red hot—Bold’s listing strategy never changes. “Our strategy is always to educate our sellers. That’s why the word ‘consultants’ is in our name. We advise homeowners on how to price their home at market value. Overpriced homes frustrate potential buyers and end up just sitting there. And nobody wants that.”
BOLD Real Estate Consultants is associated with Keller Williams Greater Cleveland Southwest. Find them at 50 Pearl Road, Suite 106, in Brunswick. Phone 440-879-7260 or visit BOLDRealEstateConsultants.com to complete a consultation request form.