Last Updated on October 6, 2022
Allen Tate President/CEO Pat Riley offers advice to buyers and sellers
This past year, we have been on a roller coaster ride of real estate market changes – low interest rates, historically low inventory, along with a high volume of buyers and price appreciation.
In the March edition of Carolinas Market Update, Allen Tate Companies President and CEO Pat Riley offers advice for both buyers and sellers trying to navigate the twists and turns of this market: Don’t try to do it alone.
“The housing industry has enjoyed a V-shaped recovery in the last 12 months, but we are still navigating a market that raises more questions than it provides answers,” Riley said.
“Inventory remains a challenge and I don’t see that improving anytime soon, so prices are still appreciating. But low interest rates are keeping homes affordable,” he said.
Winning in today’s real estate market is all about timing – and having the right Realtor® to help you. Buyers need an experienced hunter to help find homes before they hit the market.
“We have buyers ready to buy and we know other buyers ready to sell. We’re in a good place to make those connections,” Riley said.
Buyers must be prepared to act immediately, with a mortgage pre-approval and accessible funds. And while it’s a sellers’ market, homes must be updated and in good condition to move quickly and command a fair price.
“We have homeowners who want to sell but their home is not ready to go on the market. So they are putting off listing and buying their next home. They need plan for necessary updates and work toward those goals. Being ready to sell will help you be ready to buy,” Riley said.
“There has never been a better time to buy and sell. Everyone needs to buy a home or refinance their current home if they haven’t done so,” he said.
Carolinas Market Update is targeted to consumers in the Charlotte, Triad, Research Triangle, High Country, and Upstate S.C. regions. It is produced every other month by the Allen Tate Companies and features information, statistics, trends, and predictions about the real estate market in North and South Carolina.