It’s officially here the Boston condo for sale Spring market, and we’ll be seeing a few changes. A spike in Boston condo for sale inventory, new buyers and sellers entering the market and a scramble to get everything done before the inevitable summer slowdown.
Boston Beacon Hill condo Sellers have been watching the prices their neighbors have been getting over the past six months, and Beacon Hill buyers are itching to pick up properties before they hit the market. I have one such deal if you’re interested (Beacon Hill condo for sale).
But we don’t all have to go off the deep end.
Here are five tips for maintaining your Spring sanity:
1. If you’re going on the market, stay on the market for at least a few days.
You’ve staged your Boston Seaport condo, moved out and should want to expose that property to as many buyers as possible before taking offers. If you’ve scheduled open houses and a broker tour, commit to having those open houses and tour. This lets buyers and their agents at least take a crack at the purchase, and having an offer date can only benefit you if there’s significant buyer interest. It is ultimately a very sound idea to also have a backup offer in place when you accept an offer, and it’s hard to do that if you just take the first offer that comes along.
2. Don’t waste your time jumping into extreme offer situations if you can’t compete.
If you don’t have the appetite to waive all your contingencies and the budget to prevail in an offer situation involving 25 interested buyers—most of whom will write offers—you might want to look elsewhere. That two-bedroom Boston Seaport District condo with parking, deeded deck and in-unit laundry for under $1M will probably won’t last long. You’ll be better off avoiding a situation that will chip away at the emotional reserves you’ll need to be successful in your Boston Seaport condo search, until your ready to pull the trigger.
3. If you’re a listing agent/Seller, notify buyer agents of offer outcomes promptly.
As a seller you’ll thrilled with the eight offers that came in on your Boston Seaport condo. As the listing agent, you’ve already called the agent representing the buyer with the accepted offer and have given them the good news. But there are seven more agents you need to call before the night is through, because their buyers are going to lose some sleep if they don’t hear back until the morning.
4. Buyers, make sure your loan pre-approval is current.
You may have been preapproved a couple months ago, but interest rates change and so do prices. Before you start running around looking at Beacon Hill condo open houses, run some updated numbers to make sure you’re not looking at homes that will be out of your price range.
5. Sellers, plan ahead.
When you decide to sell your Boston Seaport condo, a lot of activities and people are thrown into action. Yes, it’s a seller’s market and everyone will be excited to see your Charles River Park condo when you list it. But if you’re planning to stage the home, that will typically require some notice, if only for logistical purposes. And there’s no better way to create buzz around a home than to give your listing agent some time to pre-market the property on the MLS, within agent networks and with a house sign. Remember, there will be more inventory with which to compete now, and you don’t want to get lost in the mix.
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