A big part of real estate is anticipating what the market is going to do. Well, I'm here to tell you that the weather is warming up and so is our local real estate market. Now is the time to make your move!
Buyers: Home showings are up, which means that a great many buyers are already out there actively looking. With the Home Buyer Tax Credit set to expire at the end of April, most of those buyers are on deadline, hoping to take advantage of the Tax Credit before that expiration date. Mortgage rates are also predicted to rise every quarter for the next two years. Bear in mind, a rise in the rate equals a rise in the monthly payment, at any price. Don't wait too long and let all the "buyer competition" take the best deals and reap the benefits of the tax credit while you are still trying to decide what to do. Make the call, get pre-approved and make the most of this buyer's market while its here and mortgage rates are still low.
Sellers: Every year about this time, the buyers come out of hibernation and activity in our market really picks up. And, as you may know, the number of homes for sale on the market are also expected to rise with the temperatures. So list your home now, ahead of the competition and make sure you have it looking its best. Your goal as a seller is to outshine the competition and impress all those buyers! Gary Keller (as in THE Keller of Keller Williams Realty) gave an interview on Good Morning America recently, and offered some great tips on how to sell your home in the current market, including:
1. Price your home BELOW the prices of similar homes. Pricing right gets you showings.
2. Fix EVERYTHING! It is a buyers market and they expect the very best for their money. With an excess of inventory on the market, they wont put in an offer on your house when they can find a similar home nearby that they wont have to fix things on.
3. DECLUTTER! Clear that clutter away, it makes your space appear smaller and makes it more difficult for buyers to picture their things in the home. So take down that wall of family photos and get all those magnets off the fridge, etc.
4. STAGING!! Look at your home objectively and stage it with potential buyers in mind. Good pictures and staging are what bring in the offer!
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