Confidence in the Housing Market Continues to Rise
As the economy strengthens, consumer confidence in the housing market normally follows. As we get into home sale season, multiple sources are seeing an uptick in belief in the home-ownership dream, which means great things for anyone looking to sell a home this year.
From HousingWire: “Consumers’ faith in the housing market is stronger than it’s ever been before, according to a newly released survey from Fannie Mae.”
This increase in trust in the housing market means more competition for prospective home buyers in your area. For potential home buyers, that also means competition for the home of your dreams. So what can you do to prepare yourself and your property to sell or buy a home this year?
For Home Sellers
A more stable economy and increased interest in buying a house puts the check mark strongly in the “seller’s market” box, giving you an advantage to sell your home more quickly and at a better price than when consume confidence is lower.
Keep the following points in mind as you plan to list your home for sale:
If you intend to invest in updates to improve your sale potential, be sure to work with your real estate partner to ensure you get the most return on your investment.
List your home at a price slightly lower than what you’d like to sell it for. This gives you negotiating room and will increase your exposure to anyone searching for a home like yours.
For Home Buyers
Get a handle on your credit. Ensure you credit report is up-to-date and accurate, and reduce any extraneous debt you can for the best chance of mortgage loan approval for your dream home.
Meet with a local real estate and mortgage professional before you begin your search. They know all the details about the real estate market in your area as well as what type of property best fits your budget and home-ownership goals*.
*Set guidelines for the type of property you seek based on a wish list of “must-have’s” and “maybe’s” so you can do the most specific search for your home as possible. For example:
Must have 3 bedrooms and 1/5 bathrooms
Maybe have a walk in closet in the master bedroom.
No matter your home goals for 2017, now is the time to take advantage of the momentum driven by the strengthened economy to buy or sell your property. Connect with a local professional today to join the fray and make the change you’ve been planning.
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