Local Real Estate Agent Shares Tips For Buyers, Sellers As Housing Market Heats Up

Vittoria Woodill reports.

LOWER A BABY'S RISK OFDIABETES OBESITY AND HEARTDISEASE LATER ON IN LIFE.WELL, HOME BUYERS TAKINGADVANTAGE OF HISTORICALLY LOWINTEREST RATES ARE PROVIDING ABOOST TO THE HOUSING MARKETBUT SUPPLY IS ALSO DOWN DURINGTHE PANDEMIC.SO, IS IT A SELLER'S MARKET ORA BUYER'S MARKET.VITTORIA WOODILL TALKS TO ALOCAL REAL ESTATE AGENT ANDHAS TIPS.Reporter: WITH THE SUMMERSUN HEATING UP OUR AREA ITLOOKS LIKE REAL ESTATE ISHEATING UP AS WELL.LOOKING AT THE RECORD RATESOF UNEMPLOYMENT, YOU WOULDEXPECT THAT HOUSING MARKETWOULD BE STRUGGLING BUT IT'SACTUALLY THE OPPOSITE.THE MARKET IS ON FIRE IN OURAREA.Reporter: BUT FOR WHOEXACTLY AND WHAT DOES THEMARKET LOOK LIKE THESE DAYSFOR FOLKS LOOKING TO BUY ORSELL?

WELL, I SPOKE WITH REALESTATE AGENT ALLISON WOLF OFBERKSHIRE HATHAWAY INMONTGOMERY COUNTY.I'VE NEVER SEEN A MARKETLIKE THIS.Reporter: AND SHE SAYSIT'S A STELLAR TIME FORSELLERS.SO MANY PEOPLE DURING THISQUARANTINE WERE STUCK INSIDETHEIR HOMES, THEY REALLYSTARTED TO RE-EVALUATE THINGSWHAT THEY WANTED WHAT THEYNEEDED.NOT ONLY DID IT REALLYMOTIVATE THOSE ALREADY IN THEMARKET TO BUY A HOME BUT ITBROUGHT NEW BUYERS IN THEMARKETPLACE.Reporter: BUYER'S BEWARE.STRUGGLING WITH LIMITEDINVENTORY FOR YEARS AND WITHTHE PANDEMIC THINGS HAVEGOTTEN JUST COMPLETELY OUT OFHAND.YOU HAVE REDUCED INVENTORYEVEN MORE SO AND A TON OF PENTUP DEMAND ITS A LITTLE CRAZYOUT THERE.Reporter: DOES IT JUSTFEEL STUCK FOR SOME SELLERS?ABSOLUTELY.AND IT REALLY DEPENDS ON ITHINK LARGELY WHERE THATSELLER WAS GOING TO GO.FOR EXAMPLE I HAVE TWO CLIENTSWHO WERE PLANNING TO MOVE INTOTHE CITY AND, YOU KNOW, LIVETHE CITY LIFE, YOU KNOW, GETRID OF THEIR BIG HOUSE IN THEBURBS AND WITH THE CITY BEINGSHUT DOWN THEY COULDN'T GO TORESTAURANTS AND SPORTINGEVENTS AND MUSEUMS SO, YOUKNOW, THEY LOST THAT SENSE OFURGENCY.ALSO SOME SELLERS ARE A LITTLEUNCOMFORTABLE HAVING PEOPLE INTHEIR HOME RIGHT NOW.IT CAN BE A LITTLEDISCOURAGING ITS NOT FOR THEFAINT OF HEART BUT IMPORTANTTHAT EVERYONE WORKS WITH AKNOWLEDGEABLE AGENT.Reporter: ALLISON HASHELPFUL TIPS FOR BUYERS ANDFOR SELLERS IF YOU ARE EVENREMOTELY CONSIDERING SELLINGYOUR HOME WITHIN THE NEXTYEAR, NOW IS THE TIME TO BEHAVING A CONVERSATION WITH THEREAL ESTATE AGENT.THERE IS A FEAR GENERALLYSPEAKING OF A LOT OF PEOPLETHAT WE MAY HAVE A SECOND WAVEHIT IN THE FALL SO RIGHT NOW,THERE IS SUCH DRIVE TO GETINTO A HOUSE OVER THE SUMMER.ON THE BUYER'S SIDE I WON'TGIVE YOU TOO MUCH JUICY DETAILBUT AS SOON AS A PROPERTY ALISTED YOU NEED TO BE IN IT IFIT INTERESTS YOU BECAUSE WITHTHE RESTRICTIONS IN PLACE,THERE CANNOT BE ANYOVERLAPPING SHOWINGS.SO IF YOU WAIT A DAY, TWO DAYSTO SCHEDULE AN APPOINTMENT,THE WEEKEND MIGHT ALREADY BECOMPLETELY BOOKED AND YOUWON'T GET IN TO SEE THE HOUSEAT ALL.Reporter: ALLISON SAYSTHAT NOW IS THE TIME MORE THANEVER TO START THE RESEARCHPROCESS IF YOU'RE LOOKING FORA HOME.YOU GOT TO GET YOUR FEET WETAND THE MORE INFORMATION YOUHAVE NOW THE BETTER DECISIONYOU CAN MAKE LATER IF YOUDECIDE TO BUY A HOME IN THE