The Western New York real estate market has a seasonal ebb and flow. Because of weather, holidays and the cadence of the school calendar, things tend to slow in the winter months. Few want to trudge through the cold, dark and snow for showings. And fewer still want to pull our children from their school district for a mid-year move.
As a result, many buyers and sellers time their activity to peak in the spring. The weather is breaking, Buffalo is in bloom, and when you allow for the standard 60 days from the time of an accepted contract until closing, students can finish out the school year before the big move. For these reasons, as we enter February, we can expect a relative glut of listings to appear on the market over the next few months.
Before the imminent spring market frenzy, I thought I would offer a few pointers to those of you who intend to participate, or for the merely curious. And to improve that guidance, I queried two of my colleagues; Stephanie Morgan, Broker of Record and Co-Owner, and Mandy Carl, NYS Licensed Salesperson and Co-Owner of JRS Morgan Realty. Between them they have over 40 years and $140 million of transactional experience. They are spring market experts.
Things to keep in mind if selling this spring, according to local Real Estate Agents:
- It’s never too soon to meet with your agent to discuss your home selling objectives. They can determine the best time to sell, offer small staging tweaks that can help make your home more marketable, and help you with your plan for future housing. Taking time to prepare your home and make a game plan helps immensely.
- Meeting early will provide you with some time to complete those tasks. Don’t forget that your contractor is bound to get busy and booked up, too!
- Pack away your personal décor, like personalized items and photographs. Clean out closets to highlight the storage in your home. You can pack these things along with your more rarely used items in boxes or totes and store them in your basement, attic or garage.
- When preparing your house for showings, take spring cleaning to the extreme. There is nothing more beneficial and cost-effective in preparing your house for sale than to very deeply clean and declutter. Consider hiring a professional cleaning service. Cleaning should also extend to your porch, patio, garage, and garden beds.”
- Finally, locate your abstract of title and survey in advance of listing your house. These documents can take several weeks to months to reproduce if the originals aren’t available for updating.”
What should buyers do to prepare for the spring market?
“Get ready!” Carl said. “The spring market is active and competitive. Be prepared ahead of time. Begin by contacting your agent, or selecting one if you don’t currently have one. Don’t be shy about interviewing an agent or two. Buying a house is one of the most impactful financial and life decisions you will make. It’s important that you feel both confident in and comfortable with your agent and their expertise. You should determine what are your ‘must haves’ and what amenities do you ‘wish’ for in your next home. Share that information with your agent. Your agent will help you target homes that are in your desired location with the amenities you need/want.”
Morgan added, “More than in other parts of Western New York, having an agent who has expertise in the East Aurora/ Elma market is critical when shopping in our area. Although regional real estate sales have slowed, East Aurora, Elma, and the surrounding area is still very brisk. Many homes are receiving multiple, competitive offers. Having an agent who understands local pricing and knows what is coming on the market before it is online is invaluable. Not every agent will understand the nuance of home pricing within the village of East Aurora versus the town of Aurora, or pricing of Wales versus Elma even if it’s in the same school district. If you need a mortgage for your purchase, you’ll want to call your lender before you start walking through homes. If you don’t have a trusted lender, your agent can recommend a few. It’s important to zero in on a budget, understand what type of financing you qualify for, and address any small balances or pay off items that might impact your credit score. Have your lender provide you with a pre-qualification letter in advance, and determine how much money you will need for your down payment and closing costs. The sooner you call a lender, the better.”
Finally, you can prepare by familiarizing yourself with the market and area. Even if you’re not quite ready, go through an open house, drive by homes for sale, get familiarized with neighborhoods. Your agent can set up a property search for you to keep you on top of the market. You will start to get a sense for pricing and how quickly homes are moving. That way, when you walk through a house you love, you already have a reference for if the home is priced correctly and can feel comfortable moving quickly if needed. Also, keep in mind it’s not unusual to put several offers on several homes before one is accepted. It can take a second to get a feel for the market. It’s easy to get discouraged, but if you keep at it, with a little help, you will get your home.”
