“The market is gradually shifting toward a state of equilibrium.”
by Gwen Holloway and Elena Sanwick, REALTORS®, LUXE Real Estate Group — Luxury Prescott
Prescott LIVING: What got you into this profession?
LUXE Real Estate Group: Elena was looking for a career that offered flexibility, a chance to apply her business knowledge, and the opportunity to be her own boss. Gwen sought to take her 25-plus years digital marketing career in a new direction that allowed her to be relationship-focused, while still marketing a product. Both are extremely satisfied with their decision to become real estate professionals.
Prescott LIVING: What are the most difficult and gratifying parts of your job?
LUXE Real Estate Group: The most difficult aspect of selling real estate is the uncertainty of the market, particularly recently. Fortunately, we’re extremely nimble, so can pivot quickly and intelligently to best serve our clients. The need to buy or sell a home is often tied to a major life transition, which can be very stressful. We both agree that the ability to help people through stressful, and sometimes unwanted, transitions in their lives is the most gratifying part of our career.
Prescott LIVING: What are your clients asking for most from you right now?
LUXE Real Estate Group: A real estate market crystal ball.
Prescott LIVING: Is the current Prescott-area market better for buyers or have interest-rate hikes canceled out affordability gains?
LUXE Real Estate Group: The market is gradually shifting toward a state of equilibrium and so is more favorable to buyers than it has been, but rising interest rates are definitely sidelining demand from buyers who need to finance a home purchase. In the luxury market, most of our buyers are purchasing with cash and thus are more affected by the health of the stock market than the interest rates. What we’re hoping for is a balanced market, where supply equals demand and buyers and sellers are equally favored.
Prescott LIVING: What should sellers do to get the best return on their homes?
LUXE Real Estate Group: Once the decision has been made to sell the home, sellers need to step back and look at their home through the eyes of a potential buyer. Investments in enhanced curb appeal, neutral interior colors, and needed repairs and maintenance will pay off handsomely when it comes time to sell.
