Real Estate Market Stays “Hot” In Spite of Summer Heat
By Kim Siebert MacPhail
According to Higgins Group realty agents Diane Hughes and Debbie Spencer, the Bedford residential real estate market is moving briskly, particularly for the summer months and especially for well-priced houses in good condition.
“It’s really busy,” said Diane Hughes. “Even the high-end properties are selling, which was an issue for a while.”
Both Hughes and Spencer report that inventory of for-sale houses is low but that buyers remain “picky” and “savvy,” although the recent increase in mortgage rates from historic lows has spurred fence-sitters to act for fear that rates will climb higher.
“Buyers for Bedford properties have very high standards and high expectations,” Hughes explained.
However, Spencer stated that some of the home sales she has handled in the last few weeks have had quick turnarounds, spending only two days on the market and attracting offers higher than the asking prices. But, she emphasized that sometimes, for best results, sellers should consider doing some work on the home—like painting or “staging” a room or two—to show the property off in the best light.
“Usually, it’s a question of de-cluttering—more about taking things out than about adding anything,” Spencer advised. “Getting rid of that green, flowered wallpaper in the kitchen or family room,” for example.
If a homeowner is thinking about selling in the near future, Spencer encourages contacting a realtor to get a sense of what sort of strategies will improve salability and price. Planning ahead gives the seller time to do the work before a house goes on the market, avoiding delays and anxiety.
Ultimately, Hughes said that renewed interest in the Bedford real estate market comes down to how strong the town is. “At the end of the day, people want to live here,” Hughes said. “It’s a great, great town and the real estate market reflects that. We’re making our way back.”