Seasonal Report
Spring has arrived! Play Ball...
My youngest boy was recently drafted into "the Majors" for the 2009 season.
Saturday April 11, 2009
Spring
Well Spring looks like it has finally sprung! We see all the hustle and bustle everywhere in the seacoast region with seasonal businesses and
residences opening up, yard clean-up underway, outdoor sports and activities in full swing, and yes, the real estate market has picked up!
One example of a recent local spring event was last week's Little League Spring clean-up weekend.
Many coaches, parents and players participated in the field preparations for Little League opening ceremonies on May 2,2009.
Get out and enjoy the season and perhaps catch a local
York Little League, or
York Schools
for York High School and York Middle School sports calendars), and cheer on our youth!
The spring real estate market in York is about as predictable as the rising tide. The transition goes something like this: With the long cold winters, it is too cold to look at property, and trudge through snow, so demand builds up as the thaw gives way, and fresh new inventory comes on the market.
Such is the case right now. Many new, and in some cases, very reasonably priced homes, have entered the market. Likewise, those that have sat through the winter are now offering price reductions. Of course it is still a buyer’s market, with most opening bids coming in quite a bit below asking price. Sellers should try not to be "offended" by an offer that may come in initially lower than anticipated. Instead, work with your Realtor, to negotiate towards your best scenario in hopes of putting a deal together. You never know where the buyer could end up, unless you try!
With the rates as attractive as they have ever been, the market is being fueled.
York continues to hold its value over comparable property in neighboring towns. As you may recall from my Winter 2009 report, I discussed that beach property in York has continued to be a good investment, despite the global economy. As such, inventory remains low to moderate. If you were interested in property with an apparent outstanding value, I would recommend you get in touch with me so that I can help keep you informed in advance, of new property listings. I highly recommend using Home Scout to help stay informed of the local market as well
As an example, this past week, a property came on the market in an area of town most would describe as “highly desirable”. It was a 3 bedroom ranch, with ocean views (even more captivating views with a 2nd story!) A $50,000 price reduction from its original list price of $399,000, caused a flurry of activity, resulting in multiple offers. The property is under contract for more than full asking price with back-up offers in place. This is only one recent example of the importance of pricing a property. Also, for buyers, having a realtor representing you is critical to stay informed of these quick changes in the market!
So if you've been "on the fence" regarding buying or selling, don’t hesitate to give me a call. My commitment to you as a buyer’s broker or listing agent is integrity, trust, and market expertise.
Enjoy the spring!
Cindy
View past seasonal reports.