We’re entering the second quarter of a busy year for the Birmingham housing market, so we wanted to see what homebuyers and sellers can expect for this summer. We reached out to three Ray & Poynor realtors for their insights and top tips. Keep reading to see what housing trends they’ve been seeing and their top tips for new homebuyers.
Here’s what realtors have seen so far in the Birmingham housing market
As more and more buyers are looking to find new homes, sellers are in a great position. There’s limited inventory in the Magic City, so sellers may see multiple requests for showings as soon as their homes are listed.
This market is great for sellers, and the limited inventory will likely continue into 2021. Remote work trends have homeowners looking for homes that meet their needs, so it’s an ideal time for sellers to put their homes on the market.
“The 2021 market is holding its own. It is a fast-paced market where buyers have to be ready, willing and able to buy. It is a seller’s market for sure, but sellers must present their houses well when it comes to pricing and condition.”Mary Evans, Realtor, Ray & Poynor
Buyers, here are the top tips for securing your new home
Good news for buyers: interest rates should remain low and prices should stay steady. This also means if you’re looking for a new home, you’ll probably run into competition.
Ray & Poynor is Birmingham’s real estate resource, so it’s no wonder their realtors have tips for both homebuyers *and* sellers. Keep reading for three realtors’ top tips for homebuyers looking to buy their home in today’s market.
1. Don’t get discouraged and don’t settle.
Mary Evans, Realtor, Ray & Poynor: Keep a level head and do not let the Birmingham housing market frustrate you. There is a house for everyone, and it usually works out like it is supposed to.
2. Financially prepare before offering.
Lauren Branch, Realtor, Ray & Poynor: Buyers need to know going in what their max number is and what they are looking for in a home. While buyers should remain flexible, don’t let yourself settle on a home that doesn’t meet your needs and key wants. Don’t allow yourself to overpay for something that you don’t love and won’t make a return on when you go to sell it one day.
Betsy Dreher, Realtor, Ray & Poynor: Know what you can afford. There are apps out there that can help, but your lender is the best resource. Also have financing lined up, including a clear picture of the amount of time it’s going to take to receive it in the event that you have to make a non-contingent offer.
3. Stay flexible and realistic.
Betsy Dreher: Be flexible within your area/school system. Look at every option available!
4. Choose a realtor who will advocate for you.
Lauren Branch: I cannot stress enough the importance of having a realtor that will represent you, fight for you, be knowledgeable of the industry inside and out and have connections. We as realtors are here to guide you throughout every single inch of the home buying process.
Are you ready to find your new home in Birmingham? Reach out to the experts at Ray & Poynor through their website, Instagram, Facebook or give them a call at 205.879.3036 to start working with them.