Navigating the Real Estate Market

If you’re like most people, buying a home is typically the biggest investment you’ll make. Finding just the right home can be a complicated endeavor that takes a lot of time and effort. Sometimes it’s a matter of plain luck, with a buyer being in the right place when opportunity presents itself. 

That’s especially the case for the luxurious properties that we focus on near Lake Sinclair and Lake Oconee here in beautiful Georgia. This area is a real estate agent’s dream come true, and we find it rewarding to show off the area to buyers interested in settling down here. 

It’s a gorgeous area with breathtaking views all around that will make you want to put down roots when you get a chance to experience it in person, and not just in photos or sales videos.

It’s true that buying and selling a home right now can be pretty challenging. But not with the help of our team! We can assist you in selling your current home or in finding the perfect place to plant your stakes. 

Here’s an overview of the current real estate market and how you can best navigate it with our help.

State of the Real Estate Market

The real estate market is always fluctuating, but you can detect patterns that help guide decisions to buy and sell property. 

CBS News reports that now, “competition in the U.S. housing market is fierce,” with a record high level of homes available for sale. “The inventory levels are so low that we are seeing houses sell as quickly as in 20 days on average,” said CBS News business analyst Jill Schlesinger. 

The number of homes now available is about half as many as in the previous year. On the other hand, CBS noted that 36% of properties sold above the home’s listed pride, per data from Redfin, a real estate brokerage firm.

It’s Getting Harder to Buy Homes When They’re So Popular

One new reality that can pose difficulties in navigating the real estate market is that buyers are so eager to snap up a home, they are doing things such as offering sellers tens of thousands above the price they’re asking, or as the New York Times noted, going so far as “agreeing to let the seller live, rent-free, in the house for several months after the closing.” 

In some cases, buyers are even doing without such contingencies as being allowed to have a professional inspect the house before purchase. Such scenarios can be scary for home buyers, indicating the benefit of working with professional real estate experts to navigate all the details.

If your idea of buying homes includes a relaxed pace where you can take your time evaluating potential properties, it’s time to rethink that strategy. The New York Times gave an example of a tech support professional whose lender preapproved her for a loan, but who paused when her realtor recommended she offer right away. 

It was the first house this client looked at, so she wanted to see what her other options might be. Unfortunately, her realtor was correct and the property went to another buyer in a wink of an eye. For the next house she liked, the client took the plunge immediately, sweetening the deal by paying above asking price.

As your real estate professionals, we have years of experience helping buyers and sellers alike close deals like this amidst plenty of competing offers. Relying on experienced agents helps you avoid such pitfalls as being underbid at the last minute or failing to seize the moment when a hot offer becomes available.

And keep in mind that you probably won’t be offered many perks to sweeten the deal when making a purchase. For sellers, this is a great position to be in, of course. 

As the Columbus Dispatch put it, “Forget asking a seller to pony up closing costs or pay for a home warranty or repair a bunch of things. Those days are over for now.” It noted that in a competitive market, sellers don’t feel they need to fix items, with buyers willing to buy homes in “as-is” condition.

Individuals often find buying and selling real estate is a complicated process that goes well beyond their skill set and experience. That’s why so many folks rely on us to help with luxury property research and arranging transactions. 

Work With The Kim and Lin Logan Team

We’ve been providing real estate agent services to members of the Lake Oconee area and surrounding community since 2008 and we welcome the opportunity to assist you. We can help you sell your home or find the perfect place to plant your stakes. Please contact us at 706-338-0757 at your earliest convenience.