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Think Smarter with Nick. March 2022

Think Smarter with Nick. March 2022

As we enter the spring market, which is historically the busiest in Boston real estate, Nick gives his insight on what you can expect during the season. He offers tips for sellers looking to make a move and those looking for their first home in the Boston area.

What do you expect to see in the busy spring market over the next few months?

One of the factors likely contributing to the increased demand we have already seen in 2022 is the additional six rate hikes the Fed will likely make before the end of the year. Many buyers are racing against the clock to lock in mortgage rates before they creep higher and reduce their buying power.

I believe that this trend will continue to get stronger as we get into the spring market resulting in continued bidding wars for many properties that come to market.

What advice do you have for sellers who want to list this spring?

My advice for sellers is to position your home to create a buzz of activity, hopefully resulting in an offer that has both the price and terms you are looking for. This means pricing the house correctly and making sure it shows well. You don't want to be the property that stays on the market longer than average, or buyers will think something is wrong with it.

For first-time buyers in the Boston area, what advice do you have?

This is a tough market for buyers, but it isn't hopeless! You need to have an agent who knows how to navigate the market and position your offer in the best possible light. Even with the right agent, you should still prepare to potentially lose out on a few offers before you get one accepted. This is normal in this market, especially if you aren't a cash buyer.

Just be patient, manage your expectations, and eventually find a great property that works out perfectly for you!

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