After several years of record-breaking statistics, the intense activity of the real estate market appears
to be slowing, creating new opportunities for those planning to buy or sell a home. Prudential Fox
& Roach, REALTORS ® Chairman and CEO Lawrence F. Flick, IV notes, "Home buyers and sellers
can take advantage of this changing market in ways not possible during the past few years." This
changing market does not come as a surprise to the real estate community. "We anticipated this
change and feel that there are many benefits to be gained from a more balanced market," says Mr.
Flick. "The fact is this is a great time to sell or buy a home."
Buyers are finding that the process of selecting a home and having an offer accepted has become
less stressful. "Until now, buyers had few choices and had to make quick decisions," explains
Mr. Flick. "Sellers were usually considering multiple offers, so it was not unusual for those whose
offers were not accepted to be disappointed. Now buyers can choose from a greater selection of
homes and take more time to make decisions." But he cautions, "Properties that are priced
competitively and are in great condition still sell almost immediately, so potential buyers need
to know when to act."
Affordability factors continue to be positive. Mortgage rates have increased, but they are still at
historic lows. And while property prices are not expected to decrease, appreciation is expected to
occur at more reasonable levels. Positive economic indicators including employment and income
growth also point to an ongoing strong local and national economy. Owning a home continues
to be a smart investment and is the primary source of wealth and financial security for most
American families.
Sellers also benefit from this new environment. There are more houses on the market but correctly
priced properties in great condition will sell quickly. He advises sellers to hire an agent who does
more than facilitate a transaction. "Sales associates who are Value Creation Specialists engineer a
dynamic process that actually creates value. By staging a home so it appeals to today’s buyers and
creating a sense of excitement and urgency prior to placing the home on the market, they ensure
that sellers obtain the best terms and maximum net selling price."
Homeowners who wish to sell and ‘move up’ can take advantage of less aggressive appreciation rates.
"A more expensive house becomes more affordable and a better overall investment," says Mr. Flick.
Selecting a top real estate sales associate and broker is even more important in a changing
market. "It is essential that buyers and sellers choose an agent with the knowledge and experience
to help them make the best decision." When selecting a real estate company, choose one that is a
powerful force in the market and has a long standing reputation of integrity. Companies that
offer a full array of services like mortgage and insurance are a first choice with buyers and sellers
alike. "Recent surveys indicate that consumers prefer working with a company with a trusted
name that offers clients excellent service through the convenience of one-stop shopping."
Prudential Fox & Roach, REALTORS ® , the nation’s fourth largest provider of home services inthe United States, is an independently owned and operated member of the Prudential Real Estate
Affiliate, Inc. and the largest Prudential affiliate in the country. As the Tri-State area’s real estate
leader, the company has more than 64 sales locations and 3,700 associates. Through its affiliate,
the Trident Group, the company provides one-stop shopping and facilitated services to its clients
including mortgage financing and title, property and casualty insurance. Visit our Website at
www.prufoxroach.com.