Disclaimer: This Inside South Florida segment is sponsored by Coldwell Banker. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.
The housing market this fall looks different from years past, according to Mary Lee Blaylock, president of Coldwell Banker Affiliates.
"It's an atypical market. It's not quite as quiet as a normal fall market," Blaylock said. "Don't fall prey to listening to the typical headlines. Look to your local real estate agent to understand what's happening in your local market."
Blaylock said some markets have seen prices increase slightly from August, while others have seen slight decreases, making local knowledge especially important.
"It really warrants paying attention to the hyper-local information and getting educated and associating yourself with an agent that can help you," Blaylock said.
Beyond mortgage rates, Blaylock said life events are a major driver of buying and selling decisions.
"Life events happen. They don't follow a calendar, and they don't follow mortgage rates. They just happen. And so those life events cause consistent movement in the market at all different times of the year," Blaylock said.
For buyers
Blaylock said prospective buyers should start by understanding their local market and getting pre-approved for a mortgage.
"Work with an agent and a loan officer. Get yourself pre-approved to understand what monthly payment you can afford, then back into the priced home that that is associated with that monthly mortgage payment," Blaylock said. "That way, you'll be able to sustain it and enjoy a lifestyle within that home that is warranted, including, you know, eating in the home and enjoying furniture and things like that."
For sellers
For those looking to sell, Blaylock said the most important advice is to start preparing earlier than expected.
"Prepare sooner than you think," Blaylock said. "If you're a seller looking to put your home in the market this spring, you should be starting to talk with your agent now."
Blaylock said getting contractors lined up early is key, noting that people often underestimate how long it takes to prepare a home for the market.
"Doing it now will prepare you to get your home on the market effectively and efficiently in the spring," Blaylock said.
More information is available at coldwellbanker.com.
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