ST. LOUIS, MO/June 25, 2017 (STLRealEstate.News) As the headlines have been saying for over a year now, the St. Louis housing market is red hot. Days on market continue to dwindle, which means navigating the waters as a buyer can be pretty competitive and now expensive today. One real estate agent spoken to by KSDK stated that he has been receiving a dozen offers on each of his home listings at this time. With impossible odds for a lot of first-time home-buyers, there are some recommendations KDSK was willing to offer up for helping both buyers and sellers come out with a favorable result in the end.
For starters, have all “your ducks in a row” before you head out and start making offers. Though houses are being snatched up in 2-weeks time, when they first enter the market, it’s time to pounce on the offering. “It is a seller’s market, but that being said, it’s still a great time for buyers,” said Kenny Reinhold of Coldwell Banker Gundaker Real Estate. “Last week I had 12 offers on one house. If it comes on the market that day, you have to take advantage of it.” Reinhold went onto state that a lot has changed throughout his 14-years as an agent in St. Louis. “You have to be prepared. Inventory levels are so low right now that it’s creating multiple offer situations. Being pre-approved is the first thing.”
In addition to being prepared, Reinhold also recommends that buyers get personal with the seller. Human-to-human emotion has always been a big part of the real estate equation.
For those looking to capitalize from selling their homes, they should invest in hot-ticket renovations and cleaning services for staging. “I think kitchen and baths. You’re seeing a lot of return on those,” said Reinhold. Lastly, consider some video and drone footage of the home for the ultimate listing.