Hurricane Sandy Momentarily Stalled the Real Estate Market But We Are Back and Stronger Than Ever Before!

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When Hurricane Sandy hit our region there was obviously much despair going on and subsequently a lot of damage suffered by many homeowners to their property. I want to take a moment to reach out and extend my deepest concern for those that have endured the suffering that can only be expected from such an enormous storm. Please know that in my many years of service in this industry, I have come to know and trust a lot of quality contractors. So if you need anyone to help repair, renovate or rejuvenate your home after the wrath of Sandy’s damage, let me know.

In terms of our real estate outlook, things could not be better. Just before the hurricane hit our region we had been seeing a continued strong surge of home sales as well as inventory levels that continuously dropped. Today, we are back in the same swing of things and our market is very strong. In fact, we are seeing very strong indications of a highly active spring market yet to come.

With inventory levels as low as they are and buyers out there very eager to lock in amazing interest rates that are still available at historic lows, this is an excellent time to buy AND it’s an excellent time to sell.

For buyers: it goes without saying that this kind of opportunity may never happen again in our lifetimes. Rates this low have never been seen and they might never be available again so at savings that amount to several hundred dollars as compared to what you might have paid at just a couple more percentage points, buy now!

For sellers: Fewer homes on the market during the cooler months of the year means less competition. In fact, sellers today are enjoying the best time in years to sell their home, often with multiple offers and even price wars for some homes. As long as you price competitively and show the home well, you should be able to sell it for top dollar.
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If you have been unsure of whether to list your home, trust me when I tell you that now or even the spring is going to be one of our strongest markets ever. If listing in the spring seems more in the cards, utilize the holidays’ down time to spruce up your home and prepare it for sale. You’ll be glad you did come closing time when you are able to get the most money for your property in the least amount of time!

As always feel free to call me, your trusted real estate advisor, for more information about this or any other real estate needs you may have. I would be happy to identify some of the things you can do to get the home ready for the market.