Assessing the fall real estate market

Assessing the fall real estate market

Local real estate experts are giving us insight as we finish October and enter November.

The Deanna Bennett Real Estate Team says the Northland real estate market is more balanced than in the spring.

Bennett says there is more inventory, and she’s experienced many ebbs and flows.

“I think a lot of people think, oh my gosh, the market’s crashing. But I’ve been doing this about 27 years, and I’ve been through it all. And I think it’s great,” she said.

She attributes some of a recent slowdown to higher interest rates and a spike in homeowners insurance prices.

Sellers now have to put a little more work with staging to get their property to sell. Pricing it well right off the bat is important too, Bennett says.

“I think sellers just have to be a little more cautious on their pricing,” Bennett said. “What sellers need to do a little bit more is just go, ‘Huh. I need to move, and I just want to be a little bit more aggressive, Dee, with my pricing.’ So you really need to listen to your trusted realtor.”

People interested in buying should get pre-approved and find a realtor they want to work with to get into the market before the post-winter rush.

“Remember this is fun,” Jessie Erickson on the Deanna Bennett team said.

She also suggests starting by going to open houses.

“I always tell my buyers, we have to get in there. We have to step foot in the houses for you to get that feeling,” Erickson said. “It’s a feeling. You know that you want to buy it.”