A message from Scott Varley: Fall Forward: Act Now Before Winter Market Conditions Chill Real Estate Sales

As the top-selling agent in the Capital District, it’s my pleasure to make sure buyers and sellers can get the most positive results regardless of conditions.

 

One thing about being a seasoned real estate agent with 30+ years in the business, I know when seasons are shifting. That’s especially true for real estate market conditions right now. https://fortune.com/2022/10/10/housing-market-updated-odds-of-falling-home-prices-interactive-map/amp/

 

The Saratoga market, just like the greater Capital District, New York state and national markets, are all experiencing a fairly swift change of season. Interest rates are up and could keep rising, especially with news on October 13 that inflation keeps rising.

This is exerting pressure on home prices, which is in the intended goal of the interest rate hikes. We’re starting to see homes that are not smartly priced in need of price reductions. Market time is a little longer these days. Buyers are more cautious given rising interest rates.

DON’T WORRY: ACT!

 

The good news is: It’s always a good time to buy or sell – if you employ the right strategy to realize your real estate goal. When you can count on a seasoned real estate professional to help guide you through more volatile times, you’re in a good position.

If you are a seller, my advice is to do it now — before prices start to dip down. Homes are still selling at a good clip – especially homes priced smartly.

 

That is something we pride ourselves on here at The Scott Varley Team. We know the market locally like no one else and we make sure sellers get the best shot at attaining the sale they need or want.

 

If you are a buyer, hesitating now if you are prepared to buy may be the wrong strategy. Interest rates are indeed higher than they were last year, but historically, even mortgage rates above around 6+percent are still a good bet. Better to lock in sooner rather than risking rates heading further north.

ALL REAL ESTATE IS LOCAL: WE CAN HELP!

 

We are in a great situation here in Saratoga and the Capital District. Businesses continue to grow all along the I-87 corridor. More buyers are looking to move to our region as bigger cities and coastal markets are too crowded and too expensive. We’re still a strong market especially when you have the right team working on your behalf.

 

But my 30 years and 5,500 homes sold and $1 billion in total sales has taught me something: It is best to act smartly and swiftly to take advantage of the current market before the winter real estate market changes all of these conditions.