Real estate is local, and sales are dependent on supply and demand. In areas where the job market is booming, such as Silicon Valley, CA, prices continue to rise at a rapid pace and inventory remains low. Still, nationwide, the outlook is quite positive. Real estate is on a roll. Sales momentum is building due to stronger job growth and improving inventory conditions.
According to Lawrence Yun, NAR Chief Economist, “The number of houses for sale is higher than a year ago and prospective buyers have less hesitation about entering the market. More people are buying homes compared to earlier in the year. This trend should continue for the next four years. Interest rates should remain low and apartment rents are on the rise, driving first time home buyers to enter the market.”
Because affordability is likely to decline in upcoming years, now could be your time to buy. According to national predictions, it is advisable to buy the best property you can now or you may pay a lot more for the same home in a few years.
Let’s make sure you are in the right home as the market continues to move upward. September is a good time to sell your home, so if you are thinking of making a move, give me a call and we can talk.
Money well spent. We all know that “it takes money to make money”. Here are a few important tips to sell your home at it’s highest potential value:
- “Homes that don’t show well, don’t close well.” You may love your home the way it is and expect that everyone else will too. Yet staging matters – big time. If you doubt that, then go to a few open houses and compare the desirability of a staged home versus a non-staged home. Staging will help you get top dollar for your home.
- “The cost of repairs is less expensive than the buyer perceives.” Buyers have the right t do inspections during escrow and often raise red flags over items that need repair. If you are a seller, fix items before you get that far.
- “Price it high, watch it die; price it low, watch it go.” Remember: the owner doesn’t set the price, the market does. Many sellers think that their home is above the price that the current market dictates. Seriously evaluate the comparables. If you think that by next spring your home will be worth more, then let’s talk. We need to understand the advantages and disadvantages of waiting to put your home on the market.