How to Prepare Yourself for the Spring Real Estate Market

Spring is the best time to buy and sell a condo in the Twin Cities for multiple reasons, including heightened curb appeal and synchronization with the school year. But understanding this alone does not guarantee a successful purchase, or maximized sale. The spring real estate market is often fast paced, and this year is proving to be no different. In order to maximize on the opportunity, both buyers and sellers need to be prepared.

The most important step for both buyers and sellers comes first, by hiring the correct real estate agent. A top real estate agent will discuss specific neighborhood statistics and tailor the consultation to establish a successful and enjoyable strategy. 

If you’re a buyer… you will need to prepare your finances, and then prepare yourself.

• It’s important to consult with a trusted lender or real estate professional to establish financial limits before shopping for condos. It is important to know how much space you can afford, so you’re able to view realistic properties. Having your finances in order is also strategy to compete in the fast market.
• Next, prepare yourself to act fast when you find a condo you’re interested in. This is crucial when shopping in a low inventory housing market, and only an option if you’re preapproved by a lender or vetted with proof of funds. If your finances are not in order, you may lose the opportunity to present an offer. None of this is possible if you’re not aligned with the right real estate professional and team - including title and lender. 

If you’re a seller… you will need to prepare your condo, and then prepare yourself. 

• Before moving forward with any projects, consult with your realtor first about home repairs and updates. Contrary to popular belief, starting or finishing home projects will not necessarily raise the value of your home or decrease your time on market. That’s why it’s critical to align yourself with the right real estate agent who can properly diagnose if a project will yield a return on investment, or prove to be a waste of time and money. Although home projects can vary, home tidiness is not something to debate. To maximize the home’s potential in the eyes of a possible buyer, it is critical to declutter and neutralize rooms as much as possible. By removing extra personal belongings, buyers can view the space with their own furniture and style in mind. 
• If your condo is priced and marketed properly, you need to be prepared for a frenzy of interest when it goes on market. To accommodate for private showings of your home, you may need to plan activities for yourself and your family to leave with reasonable notice. Sellers who turn away showings because it is an inconvenience may be costing themselves an offer on their condo. 

Whether you’re buying, selling, or both, be prepared for multiple offer scenarios this spring - starting with hiring the right real estate expert.