We have some news for you: some bad news and some good news. Bad news first: we are here to tell you that the Richmond Spring Real Estate Market is beginning early this year; and, the inventory is low, very low.
While the 2014, 2015 and 2016 markets were similar–beginning earlier and earlier (think: February-May), the process for buyers has been a bit of a frenzy: low inventory, full-price offers submitted immediately, competing against multiple offers, and entering into bidding wars. And, we are sorry to say, it’s not getting better, dear friend.
We are now on what you may call “the flip side” of the 2008-2010 market–there are now fewer and fewer homes on the market and more and more buyers on the hunt. This leaves buyers feeling frantic and it also means that (unrepresented) sellers can be getting multiple offers that they are left to negotiate on their own. All of this can be stressful to both buyers and sellers; but, my friend, this is where we offer you the good news:
The Kelly Blanchard Real Estate Group is here to help.
You are not alone, and we can do this together.
We come to you offering some advice: In this kind of frenzied market, buyers are becoming a bit frantic–canvasing neighborhoods with letters (which is not a horrible idea in and of itself, let me say), stalking neighbors who suddenly have a POD or painter’s truck out front . . . and, making offers out of sheer desperation without the guidance of an agent. This is dangerous!
Buyers: We can help you, and we know how to help you.
Making offers without representation is not a safe idea for you. (Yes, we realize we are realtors writing this, but bear with us here.) Here at the Kelly Blanchard Real Estate Group and at One South Realty Group (our brokerage), we have a fabulous network of realtors–all of whom are very much “in the know” about homes coming on the market. In addition, we can provide you access to the Multiple Listing Service–MLS–which includes 90% of all homes sold. We have the fabulous Kim Nix on our team who has helped buyers enter into contracts with multiple offers–over asking price and into contracts when other offers included the lure of cash. The gentle wisdom, savvy, and experience that Kim provides is unmatched (let’s not forget her fabulous tips on buying in a seller’s market). She is wonderful at what she does and offers sound advice to the frenzied buyer. Fear not, fear not.
And, to you, seller, you may be tempted to think you are made in the shade in this kind of market and that you need no help selling your beautiful home. Let us say that navigating the waters of multiple showings, the desperate buyer, and multiple different offers can be overwhelming and exhausting. When a buyer approaches you regarding the potential sale of your home, a flag should be raised for you. Is this buyer willing to pay market value for your home? Are they trying to negotiate off-market so they don’t have to pay what your home is actually worth? Typical residential contracts are complicated–with about ten pages of terms and three pages solely dedicated to price, there is a reason these negotiations are not entered into lightly or alone.
Sellers: We’ve got this. Don’t worry.
We have Kelly Blanchard on our team. She has strong awareness of the market and coupled with Shannon Reppard’s home staging skills and marketing strategies, our team has you covered. Kelly’s insight, discerning market intellect, and sales strategy will help you get the maximum value out of your home with minimal stress and worry on your part. While you may save paying a commission by selling for sale by owner in a market with low inventory, you are not taking into consideration the cash that could be left on the table without using us to help you price and formally, thoroughly promote your home. The “market value” that you have imagined for your home is likely lower than what you could get by using an agent in a market with limited inventory and high demand. The same competition that drives up pricing, also drives a change in contract terms–and that, too, comes with a “price”–let us help you read between the lines. Are you interested in finding out what your home may be worth?
Kelly would love to meet with you and let you know what your home is worth in this market!
Interested? Let Kelly know!
We are here, friends, to tell you this: While the market may look a bit scary, we are in this together. We are thrilled to work with you and help you navigate the waters of low inventory and a high concentration of buyers. We have been here before, and we are not afraid. We work hard, we have our ears to the ground, we are ready to help our sellers write a compelling offer and we are ready to help our buyers review the handful of offers that may come your way.
We are on your team. Let’s do this.
Kelly, Kim, and Shannon