Greater Lansing Real Estate Buyers and Seller's seem to be getting mixed messages these days about the real estate market from disaster to recovery. An example sprang up yesterday as one of our leading news sources for real estate news, Inman News had two separate articles with headlines titled: Real Estate Market: Worse Than Expected? And the other titled, Another Record Week for Mortgage Rates.
Sometimes headlines are what confuse the buyers and sellers on market conditions because the headline might be all they read. Both of these articles are great and have some valuable information that would be a benefit to read.
My point is, the market may be good for some, bad for others, real estate is local, it's a buyer's market, and a great time to buy a house.Yet, it may not be the best time to sell, unless you're moving up and can take advantage of the pricing on the home you buy, to make up for the price you end up selling your home for.
The current economic fiasco with recession, job losses, foreclosures, falling home prices, individual debt and almost everything else in between have made this one of the toughest economic times in our nation's history. I can see why many people are still feeling stress and uncertainty.
If you're a potential home buyer and interested in homeownership, check your credit score and keep your credit looking it's best, make sure your job is stable and make sure you have enough savings and income to support homeownership. Owning a home is a long-term investment and cannot be approached as it was in the past.
Seller's on the other hand, should expect a challenge in this market.Pricing your home correctly is crucial; selecting the right agent to market your home is also a top priority. Be prepared to interview 3 REALTORS to compare each agent and their marketing strategies to get your home the most exposure. Ask them to go into detail on the Internet marketing your home will experience, since 90% of home buyers begin searching homes on the Internet prior to even contacting an agent to buy.
Should you even consider selling now? That depends on your situation. Interviewing an experienced seasoned real estate agent who doesn't have $$$ signs in their eyes, to list your house, will help you determine if the timing is correct for you. A good real estate agent might just tell you to stay put for now, or they may even say, sorry, I cannot help you make this work.
There are all kinds of things to take into consideration when buying or selling a home. What I addressed above are only a few of the important areas to keep in mind. When you think that time is near, feel free to ask my professional opinion. You may not like the results or news I bring you about buying or selling in this market, however you can depend on a frank and honest opinion.