As summer approaches its final weeks, does that officially mean that the real estate market spike is fading as well?
Real estate attorney Justin Clark and Orlando area real estate agents Amanda Miller and Vivian Lehman discussed three main issues regarding the current real estate market.
1. Is the market cooling down?
In short, no.
“We don’t see any evidence of lower prices,” Miller said. “I think it’s a problem of supply and demand.
Lehman added that there could be a 7% price increase next year.
It’s still a sellers’ market, which has been frustrating for buyers who are competing with so many others when bidding on homes.
But there are still ways to make offers more attractive, such as including escalator clauses, among others.
“Don’t be discouraged,” Lehman said.
2. How do I choose the right real estate agent?
When choosing a real estate agent, several factors should be considered, including experience and knowledge of the market.
Miller said it’s also important to choose a real estate agent who works full-time in the industry, instead of part-time.
“This is what we experience day to day,” Miller said.
Lehman said making sure an agent listens is another important factor when making the decision.
“Ask this agent to give you an idea of what he can do for you,” she said.
3. Should you sell a house to an “eye” buyer?
An eye buyer is often known as a buyer – especially businesses looking for homes for people moving to a new area after a job transfer – who agree to buy the home online without seeing it in person.
This can be dangerous for a salesperson, according to Clark, Lehman and Miller.
“As soon as the inspection takes place, they will give you nickel and silver,” Lehman said.
Clark said eye buyers have a goal. “The eye buyer comes to do one thing: he comes to take your capital in order to make money. “
To learn more, watch the video above.