Real estate advice: Chris Von Trapp

‏The Addison County real estate market experienced a strong surge in 2022, with rising purchase prices, multiple offers, shorter market times and cash offers.

The local real estate market has experienced a good increase in the value of homes in the past two years.

hey range from families looking to get closer to family and come back to their roots where they were raised or grew up, to parents who are retired looking to have a home closer to their grown children and grandchildren.

Addison County’s housing inventory remains very low with only about 25 properties actively available throughout the county as of Feb. 24.

In January, we started seeing interest rates fall, home prices started leveling off and new properties started coming on the market at a quicker pace.

The answer lies somewhere between the seller’s motivation, the buyer’s desperation to find a house in a tight market and both parties’ willingness to negotiate.

What are some of the best ways to improve the value of my home? Whether selling your home or not, addressing deferred maintenance and safety items, such as routine cleaning/inspections of heating and plumbing, is always important to keep on the list. Sell … (read more)

Are we in a real estate bubble? How do you know and what should we do? Unlike the real estate bubble of the early 2000s, driven by speculative buyers and investors, today’s market is fueled by actual (not speculative) demand, low inventory, and mortgage i … (read more)

How do you anticipate the market to change once pandemic restrictions are lifted? Well let me get out my crystal ball! To answer your question about how I think the real estate market will change once COVID restrictions are lifted: I believe this will con … (read more)

I’m looking to buy a home but everything is snatched up so quickly! What should I do?   As my wife would say, “You snooze you lose!”  This is a very tough market for buyers and my heart goes out to you. Housing inventory is extremely low thanks in large p … (read more)

Why is there such low inventory? How long will this last? Prices are so high right now. Is it a good time to sell my home?   The low inventory is a combination of several factors. Some sellers are reluctant to list their homes for sale for fear that they … (read more)

Are you seeing more out-of-state or in-state buyers in Addison County these days?   I have seen more out-of-state buyers in the past year than I have ever seen in any other year, and I have been selling real estate over 40 years.  I think every out-of-sta … (read more)