• September 1, 2016

Buying or selling? Understanding the Market

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Buying or selling? Understanding the Market

All markets are different. Any realtor knows this. But, it often takes an experienced realtor to be in tune with a market’s patterns, to prepare sellers for the process, and to coach buyers into making the best offers for a home in their market. Realtor Joe Lewkowicz, decades of experience have made these tricks of the trade nearly second nature in his North Tampa market.

In Tampa, prices have been increasing between five and twelve percent in the last year, which serves as a major obstacle for buyers, sellers, and their agents. While obtaining offers close to or above listing price under such circumstances may be no feat for sellers in markets, like San Francisco, where competitive bidding is commonplace, inexperienced Tampa realtors will have a hard time doing so. It takes experience, market knowledge, and confidence to get the job done in Tampa, especially its North and Northwest neighborhoods.

On Hutchinson Road sits a beautiful modern home in excellent condition, listed as the most expensive for its size and type in its neighborhood in the last year. Within four days, Joe Lewkowicz had solicited three offers, one from each person who had visited the property. Only one of those offers reflected a realtor’s knowledge that homes in the North Tampa market tend to sell above past sale prices and the rate at which prices appreciate in this market.

Joe Lewkowicz has seen these low offers, encouraged by inexperienced realtors or those unfamiliar with his market, before, and is able to prepare sellers, and encourage them to remain patient and confident in their decisions. His strategy as a realtor is to price a home correctly, although higher than previous market comparables and then devise a plan for offers to come in.

In the case of the Hutchinson Road home, Joe advised his sellers not to accept the first offer unless it was at least the full listing price and the buyer offers to make a generous down payment. Lucky for both parties, the first offer came from a realtor with knowledge about the market and its appreciation values, and the sellers were able to proceed with the closing process.

Joe believes the Hutchinson Road is perfect for the family who recently bought it, and is confident that the two other potential buyers wish they had been advised to make a much more competitive offer.

When it comes to buying or selling a home, enlist the help of a realtor who has extensive experience in the market, a working knowledge of its pricing trends, and a confidence in their skills. According to Joe Lewkowicz, “With a good understanding of the market, all parties can win!” For more information, [click here]