School Will Be Starting! Will You Be in Your New Home?
The real estate market is heating up along with the weather here in Hartford County and Tolland County. Whether you will be buying or renting, now is the time to make some decisions if you plan to be settled by the time school starts.
I was contacted this morning by someone who was looking to rent in a particular complex. Unfortunately, there were no units available for rent, so I sent her some listings for nearby condo rentals. I also told her that I would put her on an automatic search that would alert her when a new rental came on the market. With less than six weeks to the start of school, she may not achieve her goal of being settled in where she wants to be.
For Renters: Barbara Altieri of RealtyQuest wrote an excellent post about how renters can speed up the process by being fully prepared in advance. If all the paperwork, credit checks, security deposits, etc. are lined up beforehand, they will be able to jump on it if a new rental is listed. Although she wrote it for Fairfield Country, the same advice applies to Hartford and Tolland Counties. The rental market is a very active one, and rents have increased because of it. You may find yourself in steep competition and anything you can do to get the paperwork in quickly will be an advantage to you.
For Sellers: The same advice holds for you: Be prepared. That means have your mortgage pre-qualification in hand, your earnest money deposit transferred to the right account, your Realtor® of choice selected, and your needs and wants clearly identified. Understand that there is a big difference in timing among regular sales, bank-owned sales, and short sales. The quickest sale may be the bank-owned property, but there is usually more work to do before you can move in. Short sales still take a long time so that may not be an option for you if you want to get settled before school starts.
There is plenty of inventory to choose from, but if the house you want is priced right, you may find yourself in stiff competition. Although it is a buyers' market in many areas, you may actually find yourself in the competitive, multiple-offer situation. Your Realtor® will guide you through the process.
If you want to be settled by the time school starts, you must start NOW!
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Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com
860-748-8900
If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website. I would be happy to help you with your home search or provide a market analysis for your home.
Find your dream home now!
Not to mention the government's decision on the debt ceilling. . . .there is a lot to consider if you are sititng on the fence not sure whether to buy or not.
Peggy, A great post to get those buyers minds moving in the right direction...and how to best prepare!
Hi Joy - There is a lot of uncertainty and people will have to weigh all the factors when making big decisions.
Hi John - Thanks--knowledge and preparation are key!
Peggy, great post reminding everyone to get the process started so you can be in the home prior to school starting! There is a flurry of activity right now!
Hi Joan - I'm glad you are busy! I think it's picking up too. I have a few people who don't realize how close we are to summer's end, though!
Peggy -- Thanks for the mention here. I cannot tell you how many renters miss out on getting the perfect rental for themselves because they are not prepared when they start looking. Can't believe school really is around the corner. Can't wait too long to get a place to live to be in the school system of choice in time.