Thursday, April 11, 2013

Advice for Buyers and Sellers in Today's Real Estate Market

for-sale-signWe have established that housing is beginning to get back on track, so what are the best moves to make today? Here are some very useful tips for the buyers, sellers, and owners in today’s real estate market.
Homeowners are starting to gain confidence in listing their homes due to the rise in traffic of buyers, and the growing popularity of bidding wars, and buyers are finally able to start searching for the perfect home again with low mortgage rates. According to CNN Money, 92 of the Country’s 100 largest metro areas have seen an increase in home prices, with costs rising as high as 23% in some cities, and 69 out of 100 of the areas also saw an increase in sales volume.
If you’re in the market to buy a home, know that you’re going to have to be competitive. Inventory is low, and doing your homework beforehand, and having all of the necessary information ready to present an offer with your agent will put you one step ahead of the game. It’s also best to understand the days of making an offer 20% below the listing price generally will not work. Presenting your best offer first will sit best with sellers, and it also helps to have a few contingencies in place, and move fast as sellers aren’t keen on having to go through the process again and again. Being flexible on closing can also work in your favor, as many sellers are scrambling to find alternative housing at the same time you are.
If you’re looking into selling your home, you’re in luck because it’s finally looking like a seller’s market! In order to get your pricing right, it’s best to list competitively to your market, and keep in mind pricing above recent sales might not get you what you’re hoping for. Many homeowners think their broker’s suggested pricing is too low, but pricing within reason will grab buyers’ attention, and land you more offers. If you’re looking into downgrading, choose an agent that is keen on investment properties. And if you’re not thinking about selling your home soon, you still take advantage of the market by taking the opportunity to refinance. It’s possible in recent years, that you haven’t enough equity to refinance the mortgage at these record low rates, but it might be time to give it another try.  Everyone can benefit in today’s market, and if you have any further real state related questions, contact your local real estate agent today.


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