The market continues to throw off sparks as it gets set to fully ignite for the spring selling season. Properties that came to market when the weather was sweet performed brilliantly, with many generating moderate to heavy multiple-offer activity. But alas, as is often the case this time of year, the rain has now arrived and temporarily doused the flames that were being stoked.
As a result, listings that were ready for takeoff are now in a holding pattern — and who can blame them? If you've taken painstaking measures (and made significant investment) to ensure your home looks its best, why debut it against a dreary backdrop or host showings with buyers traipsing through in dripping coats and muddy shoes? It makes perfect sense to wait for a break in the weather to optimize your chances.
With that, I am stating the obvious when I stress that the process of buying or selling real estate requires a great deal of patience. If you’re a buyer right now, you are likely chomping at the bit anxiously waiting for any trickle of new inventory. If you’re in too big a hurry, you are bound to disappointed but history tells us that there should be more to look at with each passing week, so hang in there.
If you’re a seller - we know your place looks fantastic and you’re eager to present it to the world but listen to your agent when they suggest taking a deep breath. Wait for buyers to return from vacation and for the weather to turn. You might even be rewarded with a tree or flower blooming in the meantime.
Now for the twist: In true paradoxical fashion, it is very possible that one day you will suddenly be advised to STOP being patient. Yep, your best laid plan to wait until later in the spring will be turned upside down when a compelling opportunity suddenly arises. Maybe the perfect house becomes available just two weeks into your search or, wham, an offer you can’t refuse appears out of nowhere. Major FOMO will undoubtedly ensue for buyers and sellers alike! Again, take a deep breath and thoughtfully assess the opportunity with the help of your agent. Just because the opportunity came early, it does not mean the opportunity is not excellent.
The bottom line with all of this is that it is best to stay flexible when you set out to buy or sell. Be deliberate in what you want to accomplish and lay out a strategy to get you there. Stay the course but be ready to pivot if it means garnering a great result.
