Chesterfield, Missouri Buyers Move Up
by Blanche Evans
A brisk spring market and continuing low interest rates have helped many buyers get into their first homes and others to move up to larger homes, say local Chesterfield, Missouri Realtors. "Spring has burst alive and so has the real estate market in West County," says Realtor Drew Selman, "Although there are lots of buyers dipping their toes into the water, they are waiting for that perfect home to come along." Selman advises, "Sellers, the house must be in perfect condition and ready to be sold when Mr. & Mrs. Buyer walk through the door. They will want to see clean and clear all the way through the house. A small investment in a professional house stager might not be a terrible idea at this point in the market. Also, price for the market you are in. The old adage of "price it high and let them offer it low," is gone! Price it right the first time is more the mantra. Buyers: There are plenty of homes with time on the market right now. These homes have come down in price and even though they might need work, or aren't perfect, will become the perfect find. Prices are steady with a slight trend up. We will see the trend continue as more buyers enter the market. Interest rates are still low and it's still a good time to buy." Observes Realtor Christine Ronberg, "Chesterfield's selection of homes is rather sparse, which contributes to higher listing prices in homes of all ranges. At the same time, buyers are extremely particular even though interest rates remain low. Today's consumers appear to be on the fence, unsure of whether to remain in their current home and fix it up, or move up to a more expensive home. Clearly, our most active price range is $150,000-$250,000. With April upon us, numerous relocation people will be arriving from elsewhere in the country and purchasing homes than have not sold for awhile." "Open houses have picked up in the last three years with many buyers out there looking at property," says Realtor Joni Antweil. "The market is active, and usually the spring market bursts open after a few really active weeks of open houses. Listings are coming on hourly." Suggests Antweil, "If you are getting ready to sell your home, be sure it is in top condition to compete in the spring market. If it isn't in top condition, adjust the price accordingly. Buyers need to be competitive in their offers to purchase. Be ready with a preapproval letter from your lender.This is just the very beginning of the spring market, so it is still a great time to list your home. Interest rates are so low, that many buyers will be encouraged to buy now. Prices are steady, though appreciation isn't as great as it has been in the last two years." |
