2019: Heat Continues in Local Real Estate Market

2019: Heat Continues in Local Real Estate Market

If you live/work/play in southeastern Wisconsin these days, you are probably well aware of how hot the real estate market is right now. Commercial construction continues at a quick pace, particularly along I-94 in Kenosha and Racine Counties, much of it due to the impending arrival of FoxConn.

On the residential side, homes and condos that appeal to many first-time buyers (generally in the $150,000-$200,000 range) are snapped up almost immediately. How can you prepare to buy-or sell-in such a fast-paced market? Mike Zacker, Broker/Owner of Cove Realty, offers some valuable advice.

"One of the most important steps a buyer can take right now is to be sure that they are pre-approved for a mortgage,” states Mike. Consulting with a mortgage broker and providing basic financial information are necessary to get prequalified. In such an active market, a well-priced home may very well receive multiple offers. Buyers need to present a strong offer, complete with proof of pre-approval, to be competitive."

Once they are pre-approved, buyers need to be prepared to act quickly. When they find a home or condo that is right for them, and meets their needs, buyers need to submit an offer right away. It’s not uncommon for new listings to receive multiple offers within hours. Cove Realtors are always prepared to draft an Offer to Purchase for a client, guiding them through the document, and then presenting it to the listing agent immediately. “We also work as a team so if a client’s personal Realtor is not available, someone else from our office is always there to provide whatever they need,” Mike explained.

“Buyers have to act quickly and pull the trigger as soon as they find the right home,” Mike stated. “They need a knowledgeable Realtor from Cove: we know the market, know the price points and know if a home is overpriced. Quite simply, Cove knows the Wisconsin real estate market. We also make the effort to have good working relationships with most all of the area brokers. That is an advantage to our clients as well.”

It’s not just buyers who need to be prepared, either. Sellers who plan to list their home or condominium need to have their next steps in place. Many are finding that their properties sell much more quickly than they imagined, and they are rushing to find a new residence. If you are thinking of listing your property, contact Cove Realty soon. Cove’s variable commission rate can save sellers potentially thousands of dollars, especially in such a hot real estate environment.

Let the team at Cove Realty be your advocates and your advantage. Whether you are buying or selling, contact us today!

2019-01-22T22:15:44+00:00January 10th, 2019|

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