Combining data with counsel

“Consumers today are technologically adept at gathering information, to quickly get a ‘sense’ of the market, to prepare themselves to engage. However, despite many buyers being educated and informed about the real estate

market, many do not consider and understand the subtleties and nuances that make one comparable property

more or less valuable than another,” Realtor Hillary McAtee said. McAtee is a broker and managing partner at New England Land Company, a Greenwich-based brokerage.

“This underscores the value and benefit of engaging in an exclusive relationship with a trusted real estate advocate, who is not only an expert in managing the entire real estate process, but who also can provide invaluable insight,

knowledge and experiences as a longstanding member of the community,” she suggested.

Buyers used to have the luxury of time to browse homes and choose a lender. Today, the schedule is far more compressed.

“Determining the highest price point that buyers can afford is the most important factor before beginning the

search for a home,” Realtor Maria Ruggeberg suggested. Affiliated with William Raveis Real Estate in Greenwich, she’s well-versed in the buying process, including setting a budget and securing a lender.

“With the onset of the pandemic, there was an increase in buyers, particularly from New York City, and the market began to shift as inventory was sold,” she recalled. “In 2020, buyers could purchase at full price, but you didn’t have the bidding wars that came in 2021. Inventory of less than six

months reflected a sellers’ market. In 2022, driven by the fear of rising interest rates and a desire to purchase a home,

buyers have bid-up properties in bidding wars that sometimes draw 20 to 30 buyers. Prices went up 13% in 2021. Buyers have to be pre-approved and be ready to eliminate

the mortgage contingency, pay 10% to 15% over ask, and do inspections ‘for information only,’ and tailor the closing

for the seller’s convenience.”