Sizzling Summer Real Estate Market in Delaware
Everyone is invited to get their crystal balls out and predict where the real estate market will be in a month — three months or this time next year. Everyone from Industry insiders and finance pros to real estate gurus to your crazy uncle Frank have predicted booms, busts and plateaus since the beginning of spring. Low inventory. Low mortgage rates. Skyrocketing costs of building materials. People going back to work. People looking to work more from home post-COVID. You name it–after the dust settles, someone is going to be right and someone else is going to be, well, throwing their crystal ball in the recycling bin. Here’s one thing that novices and real estate wizards can all agree on – This. Market. Is. On. Fire.
Now that we are heading into summer and COVID restrictions are being lifted and Delaware and beyond, will it open up a little more inventory in the market? Will prices cool off a bit? What about inflation? Right now, everyone seems to have a lot of questions. But, no one has an iron clad vision of where the Delaware real estate market will be in twelve months. The best way to avoid buyer’s remorse (or seller’s remorse for that matter) is to make sure that the real estate team advising you on your transaction is up to the job. Homes are selling for thousands of dollars over asking. Sellers have buyers competing with bid upon bid upon bid. When inventory in the market demands that sort of behavior, you are not suited being served by a novice team of real estate pros. Your agent, loan officer and, yes, your real estate attorney must be knowledgeable and poised to meet the challenges of such a hot market. The margin for mistakes and delays is thinner than ever.
If you are throwing your hat in the ring this summer to buy or sell property in the State of Delaware, choose the real estate law firm geared to serve your needs. With SIX offices to serve you throughout the First State and a team of pros dedicated to clean closings, we are ready to best serve your needs all the way through the closing process.