More often lately, I hear the phrase, “this real estate market is just crazy!”
It is certainly an interesting time to be in the real estate business, but is it really “crazy,” or is it absolutely awesome?
Think about this: historically, if it’s a good time to buy, then it’s a bad time to sell. Or, if it’s a good time to sell, then it’s probably a bad time to buy. That’s usually the case, but things are different right now! The real estate prices have risen over recent years and properties are selling in record time. If properly marketed, they’re also usually selling for as much as or more than the asking price. That sounds like a “seller’s market,” and it definitely is a great time to sell.
However, consider this, as well: as a buyer, interest rates are lower than they have ever been. You can lock in a 30-year fixed rate mortgage for under 3% in many instances. That’s just so good, it’s silly! Buyers can also access so much information at their fingertips quickly and easily, and they have never been better informed to make decisions.
Sellers have gotten pretty savvy, too. They know that it pays to take care of their homes and update them periodically, so the inventory on the market continues to improve in quality. Therefore, if you’re a buyer and you can get an updated, well-maintained home and lock it all in with a mortgage that is at a record low rate… it sounds like it’s not a bad time to buy right now, either!
Now, things are moving incredibly fast right now and it’s important to act quickly as a buyer. Without the right guidance, it can seem a bit stressful, but there is new inventory hitting the market every day. If you miss out on something today, it’s very likely that there will be something else to check out tomorrow.
While the market is “crazy,” I think it’s just crazy good for almost all buyers and sellers, and that hasn’t happened in a long time. Enjoy it!
New Active Listings
The following properties are new to the market in the last 7 days, and at the time this was published are still available for sale:
- 387 Washington Road, Barrington: $1,995,000
- 10 Courageous Circle, Bristol: $3,250,000
- 7 Deer Run Road, Bristol: $629,900
- 30 Summer Street, Bristol: $420,000
- 39 Prospect Street, Bristol: $399,999
- 11 Wilson Street, Bristol: $294,900
- 8 Foxboro Avenue, Portsmouth: $320,000
- 13 Aquidneck Avenue, Portsmouth: $399,000
- 90 Pheasant Drive, Portsmouth: $550,000
- 128 Berkley Avenue, Portsmouth: $599,000
- 19 Karen Street, Portsmouth: $750,000
- 336 Olney Street, East Side of Providence: $1,395,000
- 20 Ninth Street, East Side of Providence: $449,999
If you have any interest in seeing these properties or others, we would love to hear from you. The properties featured today are just a sampling of opportunities coming soon and currently on the market.
About Chart House Realtors
Written by Matthew Antonio, Team Leader for Chart House Realtors in Barrington, RI.
Chart House Realtors combines the best aspects of size and scale. We are a small boutique firm with 7 full-time, local members. We operate out of our office in Barrington, RI conducting business throughout RI and MA. We are also affiliated with Keller Williams, which is the largest real estate brand in the world, with more agents, more sales and more reach than any other real estate company. So, our clients get the best of both worlds!
Our small, local size gives us the ability to craft a unique personalized plan for each and every client. At the same time, the size and scale of Keller Williams allows us to reach buyers and sellers on a national and international level. Year-to-date, Chart House is ranked among the top 1% in sales across all agents in Rhode Island and Massachusetts.
If you are considering buying or selling property anywhere in Southern New England, we would love to hear from you.