It’s Monday, and here is our perspective on what is happening in the Real Estate Market in Northeast Oklahoma.
Here is what we see:
🏡 1. We are likely entering a “Buyer’s Market.”
This simply means that buyers are taking their time and have options. They have the negotiating power.
🛠 2. Delayed maintenance can cost the deal.
Many sellers are finding out the hard way that delayed maintenance on their homes is costing them thousands in costly repairs. Homeowner inspections report on the overall status of a home and its possible defects. These valuable inspections help homeowners more confidently prepare for another year of homeownership, and ensure homes are ready for listing.
📉 3. Prices of homes are dropping, but slowly.
Since homes are sitting longer, expectations are being adjusted. This means that sellers are gradually dropping their asking prices.
📈 4. Pre-listing inspections are increasingly a wise option.
By having a pre-listing inspection done, sellers can save thousands in the negotiation phase because they can realistically price their home and honestly disclose issues to the buyer. Alternatively, a pre-listing inspection can give sellers a good idea of what areas of their home need the most attention so they can decide before listing if they want to have those areas repaired, replaced, etc. What you spend to fix or replace things before listing will most often be cheaper than what potential buyers tell you they want/need in order to make the same repairs/replacements.
🔍 5. Choosing an experienced home inspection company with a great reputation pays off.
We pride ourselves on being educational and empowering to our buyers. Let our website and reviews speak for themselves. Experience in doing things the right way and understanding what buyers and sellers are looking for goes a long way.
