The economy is at once a very real and very abstract entity. Basic laws of gravity seem to apply nonetheless. Thus bouncing back from a crash requires a lot more time and effort than the fall. What goes up must come down. Conversely, what comes down eventually, naturally, climbs back up. Though the healing process is by no means a rapid one, it is inevitable over time.
However cautiously we may thread at this time, and rightly so, it is not necessary to be paralyzed by fear. Caution and panic do not mix well, for while caution allows movement toward a new perspective, panic retreats and prevents timely, calculated action.
What can homeowners who wish to sell, and individuals looking for a new home, expect to find or accomplish in the current market? What sort of proven trends can they rely on as they cautiously allow their dreams to unfold within the current economic landscape?
Pall Spera, whose proven experience as a Realtor and Stowe resident spans four decades, provides these answers:
About Selling Now: “It is essential in this market to be very, very aware of the condition of one’s property and of pricing. If the property is not meticulously offered and priced to “today’s market”, you will be passed by and lost in the crowd. The informed broker will guide the seller as to the correct price and conditions for listing. The listing agent needs to be contemporaneously aware of pricing, sales and needs in order to assess each property analytically and to develop a marketing plan with laser precision.”
About Buying Now: “Get the best, most qualified agent you can find. Credentials and experience count, but communication skills are equally important. How technically savvy is the agent? Today, a great deal of information is available regarding inventory, sold property and demographic concerns. The good agent knows what is relevant and what bias in their recommendations to the client (buyer) is productive and useful. The first rule is to assess the needs of the client – large family, small family, sports-centric or not, time frame for purchase, family changes now or in the future, etc. Every good agent is akin to a mainframe computer, capable of many work product skills.”
About The Local Market: “The local market is adjusting to national and statewide trends of current caution and valuations. The advantages that we have in our beautiful market area are these: Long-term quality and historically stable values. While most of the country and world are off previous high valuations, historically we have a core baseline that is built on environment, sentimental and real personal enjoyment value, improved access (including broadband) and favorable pricing.”
“As the smart Real Estate historians and owners would say”, adds Pall, “This is a perfect storm for realistic pricing, good inventory and favorable cost of borrowed funds rates.”
See Part 2 for insight from other Pall Spera Company voices and backgrounds.