Aug 22, 2024 Navigating Cooling Real Estate Trends Navigating Cooling Real Estate Trends Market Shift? Cooling Trends Signal a New Era for Buyers and Sellers For the past several years, we have been in a red-hot seller’s market characterized by prices rocketing up, properties selling fast, and very few that didn’t sell quickly or at all. That seems to be changing, as things appear to be cooling off a bit. We’re in the early stages of what could be a market shift. Recession fears, global unrest, and the U.S. election are weighing on consumers’ minds, influencing their purchase decisions. These factors are creating a cloud over buyer enthusiasm and have some sitting on the sidelines in a “wait and see” pattern. Seasonal Effects and Market Outlook We are coming out of the summer lull in buyer activity that is typical for land and second home properties. Buyers tend to be busy during the summer months, becoming more active in the fall. Looking ahead, with mortgage rates dropping and the likelihood of a Fed rate cut in September, buyer activity should tick up. Lower mortgage rates and more properties to choose from will bring more buyers into the market. Market Conditions at a Glance Inventory: Increasing This could shift us into a more balanced market from the seller’s market we have been experiencing for quite some time. This is good for buyers (more options) or sellers wanting to tap into their equity and move up or downsize. Prices: Stable, Steadily Increasing Despite the headwinds, properties that are priced appropriately and marketed well are still selling for top-market prices. Timing: Time on the Market Has Gone Up Higher dollar value properties especially tend to be taking longer to sell. Seasonal Effect Fall is always a good time to sell land. It shows beautifully in early fall, and the cool weather makes showings ideal. Hunting properties are top-of-mind for hunter buyers. 4 Tips to Maximize Your Rural Property Sale Selling rural real estate in Southwest Wisconsin offers great potential—if you navigate the process wisely. Here are some key tips to help you secure the best outcome, an efficient sale at the highest possible price, and a smooth selling experience: Get Informed Many sellers risk leaving money on the table because they don’t fully understand their property’s value. Factors like soil quality, location, and land use potential can significantly impact pricing. Educate yourself on these variables to avoid underselling and ensure a rewarding transaction. Choose the Right Agent Your choice of agent can make or break your sale. Trust and expertise are essential—partner with an agent who has a strong track record in selling properties like yours, whether it’s a farmstead, hunting land, or a rural home. Even if you choose not to work with us, we’re happy to offer insights to help you make the best decision. Make a Strong First Impression First impressions are critical in real estate. A well-presented property attracts serious buyers and better offers. Proper pricing, meticulous property care, and high-quality marketing materials, such as professional photos and compelling descriptions, are key to standing out in the market. Be Proactive Selling rural property requires more than just listing it. Anticipating potential challenges and maintaining open communication throughout the process are crucial for a smooth experience. At LandGuys, we pride ourselves on staying ahead, ensuring that everything from listing to closing goes as planned. SELL WITH LUKE AND JUSTIN Selling rural real estate doesn’t have to be complicated. By staying informed, choosing the right agent, presenting your property effectively, and being proactive, you can achieve the best possible outcome. At LandGuys, we’re here to help you every step of the way. Who you work with matters. We know you have many choices when selecting the right agent for the job. No matter what is most important to you, get a team who is diligent and dedicated to your goals. When you hire the LandGuys Southwest Wisconsin Team, you can expect attentive service, skilled negotiations, more potential buyers seeing your property, and high-impact marketing that appeals to those buyers. You pay the same amount as if you are hiring one agent, but you get two agents working for you. Visit southwestwiteam.com/sell to get started, or see the videos below. To strategize the sale of your property, contact Luke or Justin! LUKE WESSEL | WI Managing Land Broker | 608.295.8395 JUSTIN BERNKLAU | WI Land Agent | 262.309.2171 Stay Connected. Be sure to follow the Southwest Wisconsin Team on Facebook. You can also check out their website here.