What everyone wants to hear this time of year! Sales are up! Yes sales are up but inventory is down! So welcome Sellers the market is yours. What does that mean for you? Well from what I am seeing in the field. It means that if you have a reasonably well priced home that shows pretty nice regardless of price range that you have a pretty good chance of moving it this year.
So if you have been on the fence about moving this might be the year to consider it. A lot of you have made up the equity that you lost through the fall of the market. You may not be ahead of where you were if you bought right before the crash but you are certainly beginning to be on the cusp .
Most well priced homes are seeing offers on them within a month and if its something special multiple offers within a week or two or as my luck has been this 2016 within a few hours.
If your curious about where your home stands right now and want to check your equity in it click here I will get back to you with a current market analysis. It is free and there is no obligation. You are welcome to just check in and see where you are at.
What does the future hold? 2017 is going to see some interest rates going up so that may slow the market up a little. We will see. I don’t think we are going to have rates go up a lot until summer or fall. But if your thinking of selling I guess I am more of the bird in the bush mentality. Market is great right now. Take it while you can.
Buyers when we say its a sellers market you all are about to cry I am sure. But realistically its still a buyers market also, in many ways. You still have great interest rates. So its still a good time for you its just tougher for you to get into a house.
So what does that mean for you? What I am seeing and my suggestions for you are.
1. Be prepared. Financial stuff needs to be ready to rock immediately. If your realtor can’t send a pre- approval letter with your offer you are probably going to be out of the running.
2. Pick out more than one home that you like. You may end up competing for the home you buy so try not to get to hooked on one home. Be a little open minded to maybe making multiple offers on several homes.
3. You unfortunately don’t have all day to think about making an offer. Get comfortable with what is out there so that when you walk through “the one” that you are comfortable pulling the trigger and going for it quickly. Many times that is the difference between owning it and getting caught up in multiple offer situations. Early bird does get the worm!
4. Don’t get discouraged! If at first you don’t succeed try and try again! Depending on the financing method that you are using you may expect it to take a little longer than normal to get the home you are searching for. Cash of course is king and its tough to compete with cash. The more down payment you have the easier its going to be but don’t get discouraged you will prevail even if it takes a little time.
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