We live in turbulent times,. If you are a REALTOR®, you belong to an organization that has guidelines that we strive to follow. This protects agents and consumers.
Because interest rates have risen over 3% since the spring and is expected to rise another 3/4% in November by the Feds, it's creating tension for sellers and agents.
Although we have about a month's inventory for Hampton Roads, buyers aren't too eager to pay the prices they were paying or come up with additional funds to pay the difference between the asking price and appraised value of homes.
Sellers: markets change. If you can't sell now, don't. Don't put an agent through the ringer as if she/he can pull a rabbit out of a hat. We have costs associated with marketing, ensuring your property gets the best exposure. Keep up with what's going on and decide if you can bear to lower your asking price or if you need to wait and see if the market changes in your favor.
Due to a scarcity of listings some, not all agents, have been violating REALTOR® guidelines. This puts agents in a bad light and undermines the integrity of the real estate business and agents.
Here is an article that outlines the 5 most violated Articles of the Code of Ethics found on virginiarealtors.org. If you are considering buying or selling a home (or know someone) please read it and share it with them.
I sincerely hope the market becomes more stable and people can buy and sell without the added drama. If you have any real estate questions feel free to call, text or email me.
Your Friend in Real Estate,
Jackie Gonzalez
Keller Williams Town Center
Licensed Virginia REALTOR®
Cell: (757) 943-9184
Web: https://jgonzalezhomes.com
Facebook: https://facebook.com/jgonzalezhomes
Each office is independently owned and operated
