4 of 50, Eastside Class of May 1-7, 2013: Glendale, Highland Park, Mt. Washington

With the dreary ink barely dry, May arrived and brought a shocking early summer surprise: MORE LISTINGS!

We all know that real estate is supposed to be cyclical, but this hasn’t really happened in at least 14 months. Demand has remained high and listings have remained dreadfully low–until about a week ago. Seriously, it was that precise. By my non-scientific observation, there’s been a 10% increase in listings since April.

Is this an indication of a turning market? I wouldn’t bet a nickle on that, but it’s definitely promising news for weary buyers who have shuttled from that 1 appealing house to the next like cattle. So what does this mean for buyers and sellers? Here are 10 piping hot tips fresh from the trenches:

Buyers
– You need an awesome agent who knows what she’s doing
– It matters that your agent is liked by other agents
– Rather than competing against 30 others, might be closer to 15
– Have a soul of steel, it’s still a crazy market, albeit a smidge less
– FHA guidelines have changed recently, dust off your pre-approval and check-in with your loan officer

Sellers
– The window for selling at top dollar is narrowing, for now
– Have a relative in real estate? It doesn’t matter if they can’t sell your home
– Understand that offer terms are as important as the offer price
– Need to hire a listing agent with an excellent reputation
– Want a smooth like butter sale? Let me know