Have you heard the traditional advice to get your home on the market to sell in the spring?
Well, traditionally that is good advice, but this is no traditional year. Real Estate Guy Team believes -and this is the general concensus in the industry- that this could be a mistake. That this year you to stand the best chance, you need to be on the market just as soon as possible. This applies to Madison wisconsin.
What is different about this year?
Well there is a trifecta of things positively affecting the market, making it a great time to buy a home. The Home buyer Tax credit, all time low interest rates and great inventory because of slugish sales, meaning generally lower prices for buyers.
These things are making home buyers brace the snow and start shopping. And if you wait till the customary April time, you could miss the boat.
Why what will happen?
The tax credit is going away April 30th. (close by June 30th)
This will mean there will be large buying activity up till this date. After this date, even if the credit is extended, (and industry sentiment is it will not.) there will be less interest after that time.
Interest rates are atificially low because the government is running an interference play, (too complex to get into now) But it has plans to phase out the interference early this year. New York Times article stated that could lead to interest rates up to 11% from the current 5%. I can't see this happen, but even 1-2% could have a dramatic effect on the market and hence home prices.
Can you imagine what that could do to buyer activity, and hence prices?
So what is the message. Start getting serious NOW. Get your home prepared to be a model home and hire a top agent to get you top dollar now.
RealEstateGuy Team is a top team of Realtors helping buyers and sellers in the Madison Wisconsin area.
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