The real estate market is heating up! Homes are selling quickly in the entry-level price points and things are moving in the luxury market as well. According to NJ real estate valuation expert Jeff Otteau, "For the first time in a decade, we're seeing an increase in demand for houses in the $1M to $2.5M price range ... this is a significant change."
Multiple offer situations are playing a prominent role this spring, showing that buyers are trying to find a landing spot before interest rates get higher. One piece of advice we give buyers in this competitive market is to be prepared. Have your lender and lawyer lined up, with pre-approval in hand and a contingency plan in case the process takes longer than anticipated.
Of course, the best advice is to have a real estate agent who will help you leave no stone unturned.