Helping buyers and sellers in a challenging market
By Nancy Brumback, Contributing Writer
Business name: Elaine Quigley, Prudential Prime Properties
Address: 125 Turnpike Road, Suite 7, Westborough
Contact Information: 508-366-3766, [email protected]
Website: www.EQRE.com
How does the real estate market look this fall?
“It continues to be busy. There's still a shortage of inventory in many towns and many segments of the market. We are seeing lots of activity and motivated buyers. It's good for the sellers, frustrating for the buyers,” said Elaine Quigley, a broker with Prudential Prime Properties with almost 30 years experience in Metrowest towns and Worcester.
What advice do you give buyers in this frustrating time?
“Buyers need to be ready. They have to be pre-approved with their finances in order. They should have met with a qualified local mortgage broker who can talk with them about the many types of programs that are available, down payment requirements and monthly payments.
“When a new property comes on the market, buyers can's wait until the weekend. They need to see it immediately and be prepared to make a competitive offer. A good real estate broker can counsel a buyer on how to make a good, competitive offer??”what works and what doesn's.”
What advice are you giving sellers?
“The first step is to call me. I can advise you how to get your property ready to sell. The best seller is the most informed seller. If sellers are going to purchase again, they need to work with a qualified mortgage broker to go through their financing options. Together, we work out the best scenario,” she said.
“In this market you have to price your house realistically. Condition continues to be very important. Sellers may have to spend some money to do what needs to be done. That hasn's changed.
“But if you do that, you can sell quickly and for the highest price. Buyers want to have confidence that a property has been well cared for.”
How should sellers prepare for a quick sale of their home?
“There's no easy way to trade up today. If you sell your house quickly, where are you going to go? You may not be able to find your new home right away. I have been working with some buyers getting them qualified to rent their current home. If you can get qualified to carry your house by renting it, it's probably the most painless way. You are then able to find your new home and maybe a year later sell your current home.
“You can make a sale subject to finding the house of your choice, but that's difficult. If you'se heading into a fall-winter market, the inventory isn's going to be strong, so your chances of finding the house you want are slim. The timing can be tricky, but I can explore the best option with you.”
What sets you apart?
“Experience. I'se been in the business a long time??”almost 30 years, and I'se been through three recessions. I understand the market, the towns and the psychology behind buying and selling very well. Those skills come into play during negotiations because buying and selling real estate is emotional. Those skills also bring the transaction to a close.? My main goal is to have the experience be an enjoyable one for everyone.”
