Officially, as summer approaches its final weeks, does this mean that the peak of the property market is also fading away?
Real estate attorney Justin Clark and Orlando real estate agents Amanda Miller and Vivian Lehman discussed three main issues regarding the current real estate market.
1. Is the market cooling down?
In short, no.
“We see no evidence of price declines,” Miller said. “I think this is a supply and demand issue.”
Lehman added that prices could rise by 7% next year.
It is still a sellers’ market that discourages buyers who compete with many others for home bids.
But there are still ways to make offers more attractive, such as including escalator clauses.
“Don’t be discouraged,” Lehman said.
2. How to choose the right real estate agent?
There are several factors to consider when choosing a real estate agent, two of which are experience and knowledge of the market.
Miller said it is also important to select a real estate agent who will work in the industry full-time rather than part-time.
“This is what we live by day in and day out,” Miller said.
Lehman said another important factor in making a decision is making sure the agent listens.
“Let this agent tell you what they can do for you,” she said.
3. Is it worth selling a house to an “eye” buyer?
The eye buyer is often referred to as a buyer – especially companies looking for homes for people relocating to a new area after transferring to work – who agree to buy a home online without seeing it in person.
This could be dangerous for the seller, according to Clark, Lehman and Miller.
“As soon as the inspection starts, they will deduct a nickel and a dime from you,” Lehman said.
Clarke said eye buyers have one goal. “The eye buyer comes to do one thing: they come to take your capital in order to make money.”
To find out more, watch the video above.