March Madness: Higher Home Prices Coming Soon

bidding-war-273x300Mid-March, just about the time of the NCAA basketball tournament, home sales skyrocket to the highest of the year. That’s what happened last year and in the years before. There is no reason to think 2016 will be any different. Savvy sellers who have been waiting like patient cats suddenly list their homes for sale. Buyers, giddy with excitement at finally seeing more choices on the market, race to outbid one another.

I saw it with my own eyes right on my little cul-de-sac. Three home owners placed their properties for sale, and all three sold above asking price inside of a week.

Typically, the market continues at a brisk pace (although not as brisk as those two mad weeks in mid-March) until mid-August when the heat finally drives buyers off the streets and down to the beach, and families with children turn their attention to back-to-school.

If you are in the market to buy a home and want to save tens of thousands of dollars, you might want to get your Purchase Agreement signed around now before the spring frenzy begins. Whatever you do, make sure you have a written pre-approval letter in hand before you go out house shopping. Without that, no seller will take you seriously. If you are buying in California or Washington, I am state licensed in those states and am happy to help you.

Contact me here or send me an email at cwarren @ envoymortgage.com.

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