The Top 5 Reasons You Need a Real Estate Agent when Buying a Home

 
 

You may have heard headlines in the news lately about agents in the real estate industry and discussions about their commissions.

And if you’re following along, it can be pretty confusing. But here’s the thing you really need to know – expert advice from a trusted real estate agent is priceless, now more than ever. And here’s why.

A real estate agent does a lot more than you may realize.

Your agent is the person who will guide you through every step when buying a home and look out for your best interests along the way. They smooth out a complex process and take away the bulk of the stress of what’s likely your largest purchase ever. And that’s exactly what you want and deserve.

This is at least a part of the reason why a recent survey from Bright MLS found an overwhelming majority of people agree an agent is a key part of the homebuying process (see visual below):

 
 

To give you a better idea of just a few of the top ways agents add value, check out this list.

1. Deliver Industry Experience

The right agent – the professional – will coach you through everything from start to finish. With professional training and expertise, agents know the ins and outs of the buying process. And in today’s complex market, the way real estate transactions are executed is constantly changing, so having the best advice on your side is essential.

2. Provide Expert Local Knowledge

In a world that’s powered by data, a great agent can clarify what it all means, separate fact from fiction, and help you understand how current market trends apply to your unique search. From how quickly homes are selling to the latest listings you don’t want to miss, they can explain what’s happening in your specific local market so you can make a confident decision.

3. Explain Pricing and Market Value

Agents help you understand the latest pricing trends in your area. What’s a home valued at in your market? What should you think about when you’re making an offer? Is this a house that might have issues you can’t see on the surface? No one wants to overpay, so having an expert who really gets true market value for individual neighborhoods is priceless. An offer that’s both fair and competitive in today’s housing market is essential, and a local expert knows how to help you hit the mark.

4. Review Contracts and Fine Print

In a fast-moving and heavily regulated process, agents help you make sense of the necessary disclosures and documents, so you know what you’re signing. Having a professional that’s trained to explain the details could make or break your transaction, and is certainly something you don’t want to try to figure out on your own.

5. Bring Negotiation Expertise

From offer to counteroffer and inspection to closing, there are a lot of stakeholders involved in a real estate transaction. Having someone on your side who knows you and the process makes a world of difference. An agent will advocate for you as they work with each party. It’s a big deal, and you need a partner at every turn to land the best possible outcome.

Bottom Line

Real estate agents are specialists, educators, and negotiators. They adjust to market changes and keep you informed. And keep in mind, every time you make a big decision in your life, especially a financial one, you need an expert on your side.

Expert advice from a trusted professional is priceless. Connect with a local real estate agent today. 

Read more at KeepingCurrentMatters.com

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Home Sellers Are Becoming ‘More Realistic’ During the Best Time of the Year To List

 
 

After years of heated bidding wars and homes selling for six figures over the list price, home sellers are entering the spring housing market with “more realistic” expectations.

As the nation enters the best week to list a home, April 14–20, fewer homeowners anticipate bidding wars and wild offers over the asking price, according to a recent survey from Realtor.com® and CensusWide. Homeowners are also expecting their homes will take longer to sell and fewer buyers will waive contingencies.

“Home sellers have adjusted their expectations. They’re becoming a little more realistic given the current market conditions,” says Hannah Jones, senior economic research analyst at Realtor.com. “Home prices and mortgage rates remain elevated, so buyers are going to be a little bit more picky and are going to be looking for more flexibility from sellers.”

While that’s welcome news for many homebuyers, it’s not necessarily a bad thing for sellers.

“The housing market is showing signs of rebalancing,” says Jones. She points out that more homes are going up for sale compared with last year. “The market is moving in the right direction.”

Just 12% of sellers expect their home will receive multiple offers, down from 27% last year. And 15% of homeowners are banking on being offered more than their asking price. That’s less than half of the 31% that expected to receive more than what their home was listed for in 2023.

An additional 15% are prepared to receive an offer within a week of their home going up for sale, down from 37% last year. And another 15% are expecting buyers to waive contingencies, such as home inspections and appraisals, dropping from 35% in the previous year.

“Seller expectations are moving away from the [COVID-19] pandemic frenzy toward more normal, pre-pandemic expectations,” says Jones. “It’s a return to some balance. Although sellers are still in a really good position, this suggests that sellers are open to a little more give and take with buyers.”

The report is based on a survey of about 1,000 homeowners who plan to sell their home in the next year and 1,000 folks who sold their home in the Past year.

What do home sellers in 2024 want?

Homeowners planning to sell their properties this year have been thinking about doing so for an average of two years. When they finally do so, they’re hoping to cash in.

Sellers are expecting their abodes to sell for an average of $462,000 this year. That might be a bit aspirational as the national median list price was $424,900 in March, according to the most recent Realtor.com data.

“The percentage of sellers reducing prices is relatively high,” says Jones. “So sellers may be optimistic coming into the market and then adjusting closer to buyer expectations.”

Almost 8 in 10 recent sellers believe they would have entered a hotter housing market if they had listed their properties earlier. Many waited to get out those “For Sale” signs because of the high mortgage rates.

About 73% of the respondents in the survey are sellers as well as buyers. About 79% of prospective sellers have been reluctant to give up a low rate only to have to take out a mortgage at a higher rate. So they succumbed to the “lock-in effect.”

About half of these homeowners don’t want to sell until rates fall, while 29% are going ahead regardless.

“Plenty of homeowners have been eagerly waiting for mortgage rates to come down so that they can sell their current home and more affordably upgrade to a new one,” Realtor.com Chief Economist Danielle Hale said in a statement.

“With mortgage rates expected to ease slowly throughout the year, some potential sellers are planning to get off the sidelines in 2024 and make a move, with the majority expecting to buy a new home at the same time that they sell their current one.”

Hale anticipated rates will fall to about 6.5% by the end of this year.

Why are homeowners selling their properties?

Homeowners who are planning to list their homes need to move for family (24%), for more space (23%), to downsize (23%), and for life changes (18%) such as a new marriage, child, or divorce, according to the report.

They’re also weighing financial considerations. About 24% are selling to make a profit, and 21% want to capitalize on price increases.

“Life goes on,” says Jones. “We still see that more normal churn in the housing market driven by big life events. Those things continue even in a challenging housing market.”

Read more at Realtor.com

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Just Listed: Charming Bungalow in Denver's Regis Neighborhood!

 
 
 

Charming bungalow in highly sought after Regis neighborhood, featuring the best front porch in Denver!

Enjoy sipping your morning coffee on the huge porch while taking in a glorious sunrise, overlooking the gorgeous yard with flowering plants blooming from spring until fall. Absolutely stunning. Step inside to gleaming hardwood floors, 2 nice sized bedrooms with a cedar closets, updated bathroom, spacious remodeled kitchen featuring custom cabinetry, thoughtful built-ins and newer stainless steel appliances. Light and bright sun porch offers even more custom storage, desk, utility sink and laundry area. The garden windows are perfect for growing plants and herbs year round. Tons of space downstairs perfect for an office area, closet and storage. Step outside to discover the backyard oasis, a shady private retreat with a wood deck, rock garden, and twinkling lights, ideal for alfresco dining or relaxation. Covered patio and garden boxes allow for growing fresh veggies, adding a touch of green to your urban lifestyle. The oversized, heated 2-car garage includes a workbench and plenty of storage for your outdoor gear. In the perfect location just a few blocks from both Rocky Mountain and Berkeley Lakes. Stroll to Willis Case golf course for a few rounds, or explore the vibrant Tennyson street with its boutiques, coffee shops bars and restaurants. Less than 7 minutes to downtown Denver and easy highway access to head up to the hills, this home offers the perfect blend of urban living and outdoor adventure.

Listed by Sue + Mark for West + Main Homes. Please Contact Sue for current pricing + availability.

 
 
 

Have questions?
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(405) 652-6635
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303-667-6279
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Just Listed: Newly Refreshed and Ready for Luxurious Living!

 
 
 

This beautiful 5 bed 5 bath home has been fully refreshed for market with newly refinished white oak hardwood floors, new interior paint, new carpet, new washer / dryer, new wine refrigerator and fresh spring landscaping.

The well-designed kitchen features an oversized island, quartz countertops, stainless appliances, a generous pantry, and a butler’s pantry leading to a formal dining or sitting room. The main floor also includes a bedroom / office with a 3/4 bath and walk-in closet, living room with gas fireplace and French doors leading to outdoor patio, mud room, and powder bath. The second level includes a primary suite with a generous walk-in closet, five-piece bathroom and covered deck. You’ll also find two additional bedrooms with jack-and-jill bath and a laundry room to round out the space. The lower level offers a large family / media room with wet bar, home gym or storage room, bedroom with egress window and walk-in closet, full bathroom, utility room, and large bonus room. This is a stunning upscale home in the heart of Platt Park.

Listed by Tiffany Nichols for West + Main Homes. Please contact Tiffany for current pricing + availability.

 
 
 

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(303) 935-8787
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303-859-6955
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Just Listed: Lovely, serene, freshly painted garden level condo with open floor plan!

 
 
 

Lovely, serene, freshly painted garden level condo with open floor plan!

Newer windows and brand new stove. Clubhouse nearby with swimming pool for relaxation and exercise, designated storage unit plus two parking spaces. Nearby Safeway & shops, CU, Bus Stop and trails. Great location in Boulder!

Listed by Trudi Horowitz for West + Main Homes. Please contact Trudi for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
(720) 903-2912
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Presented by:
Trudi Horowitz
(303) 594-6594
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