Navigating a Seller’s Market in 2023
Multiple Offers. Bidding Wars. Contingency Drops. Financing Confidence. The first few months of 2023 have been a wild ride in real estate. What many thought would be a slow, declining market with higher interest rates has only proven to be the opposite. Low inventory has led to multiple offer situations and an increase in purchase price when comparing year over year, or even month over month.
What does this mean for sellers? While your home may receive multiple offers, it’s very important to position your home for that. Just listing it with iPhone photos, not decluttered, with 5 different paint colors throughout the home will not cut it. You need a professional real estate team to showcase your home in the best possible light, so that you get a lot of traffic, and hopefully many offers!
Loncar Realty works with the best of the best photographers that capture your home from all the best angles. We also stage your home to ensure a neutral canvas for people to envision their furniture and lifestyle inside of your home. And lastly, we work overtime to show your home in order to get top dollar in this market.
There has been a lot of transactions happening in the “private market,” or with “pocket listings.” While this gives you an exclusive feel and a private sale, it also inhibits you from exposing your home from the full market and all the buyers. It’s a case by case scenario, and if you want to list your home privately to sell, or publicly on the market, we’ll walk you through all the pros and cons so that you can make the best decision for your home sale.
What does this market mean for buyers? Lots of bidding wars. First, being pre-approved is a MUST in this market. Your lender needs to provide a letter or call the listing agent to further increase your chances of being a candidate for the purchase. Additionally, you need to love your home. During 2021-2022, a lot of articles came out citing that some buyers had “buyer’s remorse.” With low inventory, you may not always be getting your forever home, but being sure that you really do love the home your buying is very important.
It also means that partnering with the right real estate agent is the KEY to getting your new set of keys. At Loncar Realty, we do whatever it takes to help you get the house of your dreams. We work with the other side of the deal to ensure a smooth transaction and the best ability for you to close. We will show you homes day or night, to ensure you get in for the showing as early as you are available.
Whether you’re buying or selling, choosing a team like Loncar Realty will give you the best chance in this market. We go above and beyond to educate you on all the steps of the sale and purchase process, and communicate with you at each milestone to ensure you’re comfortable throughout the entire transaction. Call us today for a free home estimate, or if you’re interested in buying this year. We look forward to being your trusted real estate advisors.
Brandon Loncar 630-918-1150
Gabriela Loncar 630-999-0749
-Loncar Realty, Real Estate Agents in Hinsdale, serving Chicago, Hinsdale, Naperville, Oak Brook, Elmhurst, Western Springs, La Grange, Clarendon Hills.