Sales associate joins Berkshire Hathaway

Linda Ostrowsky, sales leader of Berkshire Hathaway HomeServices Fox & Roach, Realtors Blue Bell office, welcomes Kelley Leer as a sales associate.

“I joined BHHS Fox & Roach because they give me the leadership, support and tools that I need to successfully serve my clients,” Leer said.

Formerly with Re/Max Realty Group, Leer has been licensed since 2017. An active participant in her community, she is a member of the Montgomery County Association of Realtors. Leer resides in Harleysville with her husband, Mark, and they have four adult children and three grandchildren. She serves Montgomery and Bucks counties.

Keller Williams welcomes new real estate agent

Ayanna Lindo has joined Keller Williams’ Blue Bell office as a real estate agent. Ayanna Lindo

“I am a Philadelphia native and have always had a passion for helping people,” Lindo said. “Having worked in the affordable housing industry for over 13 years, becoming a Realtor is a natural fit for me.

“Whether it’s finding a home for your expanding family or downsizing, finding that special home that fits your transition is what I specialize in,” she said. “I will be with you every step of the way throughout your journey.”

Long & Foster team has successful June

Art Herling and his group of agents at Long & Foster Real Estate’s Blue Bell, Devon and Wayne offices reached nearly $29 million in June sales.

The real estate group is the No. 1 real estate team in Montgomery, Chester, Delaware and Bucks counties. Its sales volume is more than $162 million so far this year.

“Our team has hundreds of listings in the area, and this heavy market presence generates an enormous amount of leads for our group,” Herling said. “The dynamic formula of our group’s hightech, high-touch and forward-thinking marketing gets homes sold and keeps production and sales at an all-time high. As the marketplace has its challenges, more buyers and sellers are recognizing us as the ‘go-to’ agents to get their homes sold or find a new one. We are always looking for energetic people with a good work ethic to join our group.”

Berkshire Hathaway chairman: It’s a seller’s market

Berkshire Hathaway HomeServices Fox & Roach, Realtors Chairman Larry Flick says it’s a great time to buy a house but an even better time to sell.

“With demand so high and supply still low, this is the best opportunity for sellers in over a decade,” Flick said. “We have a strong market, limited by the shortage of homes for sale, so if a property is priced right, there’s a probability of multiple offers and a chance for sellers to negotiate terms.”

The shortage of homes for sale is the biggest challenge in the current housing market, according to Flick.

“Consumers who purchased a new home during the peak period are waiting to build up their equity to trade up,” he said, “and many homeowners who were unable to sell their homes because they did not have enough equity are now in a position to move.”

He explained that since the bottom of the market in 2011, inventory and days on market have been decreasing. At the same time, average prices and interest rates are on the rise.

With these market conditions playing out, Flick offered advice to both sellers and buyers. For sellers, if a house is priced right, in good condition and properly staged, it has a better chance of selling quickly with multiple offers. Additionally, many new buyers are millennials with young families, demanding jobs and busy lives who do not have the time or interest in taking on large remodeling projects.

“Fifty percent of buyers today are millennials purchasing their first homes and prefer move-in condition only,” Flick said.

In this climate of multiple offers, buyers should be prepared to make the strongest offer possible and also offer more cash as a deposit. Also, it is important to be pre-approved for their mortgage and be flexible during negotiations with terms of settlement.

With all theses components affecting home sales, there are a few trends to notice: • The high-end properties are the slowest to recover. It is improving but at a slower pace.

• In Center City, new construction of high-end condos is on the rise, and high-end purchases are recovering more quickly. Two trends affecting the city marketplace are baby boomers selling their houses in the suburbs and moving into the city and millennials staying in the city with their first homes, until they are ready to start a family.

• The shore market is doing well, particularly with baby boomers now in a position to afford a second home at the shore.

“We will continue to see positive growth in the second half of 2018,” Flick said, “hampered by the number of houses available.”

He concluded that interest rates and prices will continue to rise.

“Waiting has a financial price in higher prices and interest rates, and it has never been a better time than now to buy,” he said.