Poor inventory, coupled with historically slow summer home buying activity, means pending home sales are also lower. As of today, they are down for the 3rd straight month and odds are very high they will continue to fall for another 6 months. If you are out looking for a new home this summer, hoping to take advantage of the lowest interest rates we have seen in 19 months, you better have a winning game plan.
You need to be aware of any new listings as soon as they hit the market. You need to know if that new listing has a price in line with current market conditions, as you certainly do not want to overpay for your house. Especially in a market where single family home prices have been rising significantly for about 10 months and sit at all time record highs. Along with good news on the interest rate front, Palm Beach Gardens area home prices have started to settle and have remained unchanged now for about 90 days. You also need to the ability to act quickly, as if a new listing is a good deal there are buyers lined up trying to submit a winning offer. You need to be working with a broker who knows how to get you in a position to make a solid offer before somebody beats you to the punch.
Interestingly, even though pending home sales are down about 11% over the past month, they too have stabilized over the past two weeks. This is mainly because of some surprisingly strong home buying activity in Palm Beach Gardens so far in July. The same cannot be said for other Northern Palm Beaches communities, so as usual, location is very important. You need to know what is going on with the numbers surrounding any property you are looking at. Every home is different, every street is different, every neighborhood is different. It’s critical you understand what the true value of any home is.
With prices high and inventory low, Paradise Sharks continues to strive to not only bring our clients the highest quality customer service but also the very lowest prices available in the Palm Beach Gardens market. All Paradise Sharks buyers get substantial credits at closing as our way of saying thank you for trusting us with your business. Paradise Sharks marketing programs for our sellers are always designed to get them the very largest check at the closing table and our full service, world class, marketing agreements start with total commissions as low as 4%. Contact us anytime for your complimentary consultation at 561.308.0175 or firstname.lastname@example.org and learn why we feel strongly we should be your realtor for life.