If you are thinking of selling your house this year or buying a new one, I'm sure today's real estate headlines can be a bit confusing...perhaps even concerning. Are home prices dropping or are they just rising at a slower rate? What is really happening with interest rates? What impact will this economy really have on the housing market?
As a seller or buyer, or both, in today's market, it is important for you to know what all of this will mean to you and your family if you go ahead with the move. So here are three things that will be important for you to understand if you are selling or buying a home this year:
1. What is really happening in the local real estate market right now?
As a consumer, you must get past those fear-mongering headlines and gain a true understanding of what is really happening. How strong is buyer demand right now? How much competition do listings have today compared to what they will have in the spring? People want o make an educated decision on what is probably their greatest financial asset.
2. Why is it happening?
It is important to understand the individual pieces that impact the sale or purchase of real estate. It is aImlso critical to understand how those pieces impact each other. How does the amount of a down payment impact the mortgage rate a buyer will be offered? Can you still price your house a little above the market and still be sure it will sell?
3. How do the first two affect your local market?
Basically, you want an understanding of the overall local real estate market and a simple and effective explanation of how it will impact your personal real estate goals.
The best way to get the answers to all three of these questions is to work with a professional who understands the shifting real estate market and can expertly navigate you on the journey to reach your real estate goals.
If you would like to get together to discuss what today’s real estate market means for you, feel free to reach out to me.