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Your Real Estate Question & Answer

Posted by Goran Todorovic, Broker on Tuesday, October 23rd, 2018 at 10:31am.

Q:

"Hi Goran! My husband and I have been talking about making a move, but we are feeling pretty overwhelmed by what we read in the news... rising prices, not enough homes for sale, etc. We have no idea where to start, but we certainly don't want to list our house before we know where we are going to move. We're not sure where to start, but we don't feel ready to call an agent because we don't want to be pressured or waste anyone's time... but we are starting to feel stuck. How do you recommend we proceed?" - Elizabeth, resident of Riverside

A:

Thank you for your question Elizabeth! There are a lot of people out there feeling exactly the same way, and unfortunately there are some misconceptions going around about the real estate market. I'm happy to help clear that up for everyone, and recommend some steps that you can take to become an educated buyer and seller. 

It's true that average real estate values have risen significantly, which is excellent news for our local economy and homeowners. The real estate market is in fact in great shape. Our market was undervalued for years, and has been playing catch-up. Projections show that prices will continue to steadily rise, so now is the perfect time to consider making that move, whether you are upgrading or downsizing. Factors driving this value increase include local and national economic factors, in addition to the law of supply and demand. There is a shortage of good homes for sale in some areas and price points, often resulting in multiple buyers making offers on a single property. But this is not true in all areas and price points, so your purchasing power is heavily dependent upon the location, price point and particulars of your current home vs. the home you wish to move to.

As you know, there are a lot of factors to consider when making a decision like this. That is why our team of agents is trained to act as real estate consultants, not just salespeople. We take great pride in taking the time to educate our buyers and sellers on the current market, what is available meeting their wants and needs, in addition to strategizing a marketing plan and price for their current home. Many homeowners considering a move may want to get out and see a few homes before they can make a decision whether this is the right move for them. Once we help you get clear on all the options, you may choose to look for a new home before you put a for sale sign on your lawn, or you may choose to list first, or you may choose that you want to wait until a later time to move. Or you may choose to stay in your current home forever, and that's okay too!

You can reach me at 519-979-9949 at any time if you would like to discuss.

- Goran Todorovic, Broker - Team Goran, RE/MAX Preferred Realty Ltd

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