I remember well, in my younger years, the dreams and aspirations a new year promised. Would this be the year I’d fall in love or get married or have children or change careers or buy a house? I’ve found that the 4 P’s helped me achieve every goal I ever set for myself. They are PROSPECTS, PLANNING, PATIENCE and PERSISTENCE! Some goals were easy, and some very hard! But the 4 P’s got me there!
What a ride 2024 was! Not only was the political scene up in the air most of the year, but real estate was also. It was a hard year for real estate companies and agents to plan for the future, not knowing what that would look like. We all held our breath but survived it! Buyers are now responsible for paying their own agent, but it’s basically being handled the same way as covering their closing costs. Sellers are, in most cases, being charged commission for just their side (versus both) and are now asked to help with buyer expenses such as closing costs AND compensating the buyer’s agent. Buyers must now enter into a formal contract and hire an agent.
Real estate is always cyclical and always “local”. What is happening in one part of the country can be very different than what is happening in your neighborhood! The Stark County area is still experiencing a lack of inventory. Prices are higher than we are used to seeing but have stabilized somewhat.
The best thing buyers can do is get preapproved or prequalified for any lending they may need to purchase a home, contract with their agent of choice, and be ready to jump when an opportunity presents itself! The best thing a seller can do is consult with an agent, find out what their home may sell for, make any repairs that your agent suggests and price the home properly. And don’t overprice it, “just to see”. Homes ARE sitting longer on the market than they did a year ago and prices ARE being reduced more often. And the longer it languishes on the market, the lower the price will need to be adjusted in order to attract the correct buyer.
No matter where your dreams or aspirations lie, there’s always someone there to cheer you on, help you get there, and congratulate you in the end! The BEST part of being a real estate professional is watching our clients achieve their goals and celebrate along with them when a new life “chapter” happens for them. It’s also knowing that we had a part in getting them there by helping them PLAN, providing PROSPECTS, keeping them PATIENT until the right one comes along, and being PERSISTENT in negotiations and expectations. Good luck in 2025! May at least some of your aspirations and dreams come true for you and your family this year!
Published in Louisville Neighbors JAN 2025
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