I have spent the first 3 months of 2023 as I have every year since 2006 with REGENTS, sharing with the public the extensive knowledge I have gained over 38 working in the industry.
Providing a Director driven service, valuing, appraising and advising, from a point of an experienced ‘expert’, to clients both selling and buying homes.
Not someone trying to climb the financial career ladder, but someone who has seen it all in terms of market highs and lows and who continues to build and perfect a team, focused on providing the award winning service REGENTS have become known to offer over the years.
That said, I will use all that experience to review and discuss the market; a market that in 2023 is still affected by limited supply in comparison to the current demand. A market that still sees equity gained from the sale of your home, put directly onto the purchase of the new one.
Buyers ready to say “this cannot continue” find that whilst going after a home with sensible head on, do in fact lose it to a higher offer.
Demand and supply is a fine balance. With projections of a poor economy, with inflation and interest rates actually much higher, one would expect a slowing down. This expert felt just that!
However, a greater force has been at work. The lack of homes coming on, the “drip feed” of properties, has been met by a “gobbling up” of almost all available.
I was asked recently about a home we still have for sale. Can’t prove it, but I suspect a neighbour asking. “Why is that house not sold?”
My answer provides the real answer as to the market we are still in. Not, it’s overpriced. Not it has dampness or other structural or real issues. NO.
“Because we haven’t received an offer they will accept, yet! As an award winning agent, with experts and regularly trained, quality staff, I can’t think of a single home we are promoting that has not had an offer”.
Whilst news outlets may lead you to believe otherwise, we can confirm that after exceeding expectations set by last year, the market conditions remain a great setting for a time to sell. Our hopes are for these times to continue into spring, traditionally seen as the best time of year to sell.