September Market Update

My son Isaac and I enjoy going to the local high school football games.  We are fortunate living in Craven County with the quality of high school football programs we have.  Isaac and I enjoy watching the athletes and coaches battle using strategy, determination and talent.  Each player on a team has a different responsibility in the battle though all are working toward the same goal.  A real estate transaction can be like pulling for the Home Team on the football field.  There are many players battling for a buyer or seller, but all are working toward the same goal for their client. 

As a buyer or seller, you are like the Quarterback on your football team.  It is your job to execute the plays and be the guide for how the team works around you.  The rest of the team will not start moving without their quarterback in order to protect the quarterback and make sure the team heads in a positive direction toward their goal.  The Quarterback decides when the play starts, who to trust with their hands on the ball and what direction the play is going.  However, the Quarterback can’t win a game of real estate alone.  Buyers and sellers need a Coach, Offensive Line as well as Running Backs and Receivers in order to get to do their touchdown dance! 

As the Realtor, we are Coach.   The Coach helps put the team together around the Quarterback for the most success.  As a buyer, the team you may need can be different from the seller.  However, I assure no one Quarterback can get to their goal line without being surrounded by a good team.  The Coach knows the plays which is like a Realtor knowing the market and how to navigate around the field of play.  The Coach knows the players and how to use them to maximize the opportunity for success for their clients.  The other players on the field would include Offensive Linemen, Running Backs and Receivers!  All play a crucial part in a real estate transaction and help buyers and sellers reach their goals.  However, it takes a great Coach to put together the right combination of players around the Quarterback to make a winning team.  

The Offensive Linemen are there to protect the Quarterback.  The loan officer is most like the Center of the Offensive Linemen who snaps the football to the Quarterback trying to buy a house.  Even though a Quarterback yells hike and can start the play, the loan officer handles the money, and nobody moves until the Quarterback gets the money football.  This is why it is important for any buyer, and seller if they plan on buying another house, to speak with a loan officer before the play starts.  Without clear communication between the Lender and the Quarterback, nothing gets accomplished.  If at any time a buyer or seller will need a mortgage, the lender is the first person to speak with.  A seller doesn’t want to sell their home to find out they can’t buy another one.  A buyer shouldn’t look at homes if they don’t know what they are comfortable and able to afford.

The Offensive Linemen are also made up of Inspectors and Appraisers as they are there to protect the Quarterback.  A good Coach knows the need to protect their Quarterbacks and have the right people in place to do so.  There are a lot of moving parts to a home.  Having the protection of professional inspectors going through a home or the system of a home prior to trying to sell or buy can save the Quarterbacks many aches and pain.  Quarterbacks, both Sellers and Buyers, should always consider hiring an Offensive Line of inspectors to know what to expect and repair any major issues.  Inspectors can’t catch everything, yet having professional knowledge can only improve the game for the Quarterback.   Appraisers can ensure the asking price or contract price are in line with what the market will bear, making sure a timely touchdown at a fair price.  An excellent Offensive Line can protect the Quarterback from getting sacked while helping them move toward the goal line!

Running Backs can be the work horses of the football game working to get everyone to the goal. Running backs are made up of paralegals, underwriters and transaction coordinators.  Since Running Backs usually line up behind the Quarterback, these are the folks that work behind the scenes and may not get as much of the spotlight as others.  Running backs may only get a few yards per play during a game, they are crucial in getting to the goal line.  Paralegals, underwriters and transaction coordinators, the Running Backs, do the heavy lifting of verifying proper documents are in place, reviewed and ready to get a touchdown.  The Coach helps coordinate the Running Backs.  The Quarterback hands the ball off to the Running Backs.  Then the Running Backs trudge through the obstacles toward the goal line, even dragging others with them for the touchdown.  

The Receivers are the attorneys as they are the ones who will seal the deal and can make spectacular plays. The Receivers are there to celebrate with the whole team in the end zone as we cross the goal line.  The Receivers ensure the ball has a right to cross the goal line by collecting all the moneys, verifying clear title is being transferred, having proper documents signed correctly and distributing all monies to where it needs to go.  Though I don’t think the attorneys take the final paperwork into the Register of Deeds office and spike it on the ground, I have seen a few do some touchdown dances on lenders Facebook post!

It is important for buyers and sellers to have a winning team around them as they try to Quarterback their way to their next move.  A talented Coach can use strategies to surround you with winning players all determined to make sure you don’t get tackled along the way to your goal. There are 308 homes on the market and in the game, 160 of which are new construction.  A proper game plan as a buyer or seller is important to win in the current market.  There are 259 properties in Craven County moving the ball down the field as they are under contract heading toward the goal of closing. With the average sales price up 11% from last year in Craven County to $311,516 and the average days on the market up 36% year to date for the 1182 homes sold, be sure to surround yourself with a winning team.  Ensure you have a protective Offensive Line, quick feet Running Backs, a Receiver with all the right moves and a great Coach to game plan and coordinate you to victory!