The Housing Market Has a Heart as Cold Winter

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I am SO done with this winter.

I’m done with hats and gloves and my expensive North Face parka that doesn’t keep me any warmer than my less expensive parka did. I need this winter to end; I need my chapped lips and dry cracked hands to heal. I don’t want to leave my kitchen faucet dripping so my pipes won’t freeze.I don’t want to buy any more salt.  I want to hear some birds chirp, I want to see a daffodil. I don’t want it to be below zero, I don’t want it to snow, I want this winter to be over, I need it to end.

It’s March. March weather in my hometown is never perfect. March usually means gray skies, chilly temperatures, highs  in the 40’s. It’s not beautiful, but there’s usually a sense that spring is just around the corner. Not this year. This year it’s polar vortex, this year, if it’s not snowing, it’s freezing. This year it’s the winter that just won’t go away…and I’m just gonna lose it.

As I look out the window and see the seventy-fifth inch of snow start to fall, one thing is blatantly clear…what I want and need just doesn’t matter, I don’t control the weather.  All the wishing, hoping, complaining, wanting and needing won’t change a thing. I better  just grab my hat, gloves and not warm enough parka, bundle up and deal with it.

You’d never know it by the weather, but  the spring housing market is underway. With the spring market comes a whole new batch of home buyers and sellers…and often they come to the market with  wants and needs regarding home values. It usually goes something like this…

“I need X for my house because I owe Y on my mortgage.”

“The house is worth more, but I need to get the house for X, I’ve only been approved for  Y.”

“I want X for my house because I want to put Y down on my next house.”

You get the idea.

With their wants and needs regarding home values, buyers and sellers want to control the ” weather”. It’s as fruitless for them as it is for me.

The market, not buyer or seller wants and needs, determine property values. The market delivers its weather in the form of supply and demand, closed comparables, appraised values, motivation of the competition. The market doesn’t care what a seller owes, or what a particular buyer has been approved for. A buyer wants this, a seller needs that? The market couldn’t care less. The market has a heart as cold as this never ending winter.

Buyers and sellers have to recognize that they participate within a market they have no control over. They can make the best of it, put their best foot forward in it, they can push it to its limits, but they can not control it or change it.

Like me, buyers and sellers need to bundle up and deal with it.

What does that mean?

For buyers,  bundling up means having that preapproval letter ready, making a realistic offer with attractive terms, maybe even including a heartfelt letter to the seller.

For sellers,  bundling up means having your house in tip-top shape, making the small improvements your agent and stager suggested, it means presenting your property in its best possible light to the widest audience and it means pricing it appropriately for the market.

This winter WILL come to an end, birds will chirp and daffodils will bloom…but remember the market’s heart…it’s cold, no matter the weather.

Bundle up!

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