Who's Ready to make a Move!?

 
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Real Estate  
 
What will the housing market look like for Buyers this Spring?
Spring is here! Well almost, but the Spring Buyers have started searching! If you are planning to make a move allow me to give you some insight as to what to expect when starting your search. 
 
Low housing inventory: 
A shortage in housing inventory (the number of homes that are currently listed for sale on the market) has been the cause of raising home prices and multiple offers for the past several years. I do not expect this to change any time soon, especially, this season. Homeowners are rate-locked causing them to stay put. The average homeowner has an interest rate that is 4% or below according to the Federal Housing Finance Agency. This is causing what I call “just because moves” to come to a halt, furthering the low inventory issue and continued buyer competition for the few homes that are on the market. 
 
Better Negotiations:
Even though I am still expecting to see multiple offers and high buyer competition this season I still think the window of opportunity for better buyer negotiations is there. Everyone knows that interest rates are much higher than this time last year. This has made sellers more willing to accept offers that request seller paid closing costs, whereas, in years past it was extremely difficult to get an offer like that accepted. They are also being more reasonable with their asking price. So, even if you are paying several thousand dollars above their asking price to beat your competition, it is not on top of an already inflated asking price like years past. I am also seeing more sellers that are willing to negotiate a few repairs for buyer's this season instead of demanding an as-is sale. 
 
New incentives and loan programs:
Several builders are giving incentives like credits toward closing costs and extra appliances when you purchase homes with them. If you are looking to purchase a brand new home you are getting a much better deal than in years past. Lenders are also coming out with more incentives to help offset the higher interest rates, such as, paid appraisals, closing cost credits and zero money down financing programs.
 
My biggest take away is that even though interest rates are higher, buyer negotiation power is much greater this season putting them in a better position when purchasing a home than years past and allowing them to actually get their offer accepted! 
 
If you are thinking of purchasing a home this season or know of someone that is please don't hesitate to call, text or email me! I would love to schedule a time to chat about your options! 
 
Latest rates as of March 2023: 
5.9% for a VA loan, 6.5% for a conventional loan and 6.2% for an FHA loan. *Rates change daily and are subject to each individual lender/bank and borrowers credit profile. If you need a trusted lender recommendation please don't hesitate to ask. 
 
           Carly
 

 
Seller's can also benefit from the current market conditions! If you are looking to sell your home take a look at the graphic below. 
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An Expert Makes All The Difference 
When You Sell Your House
 
If you’re thinking of selling your house, it’s important to work with someone who understands how the market is changing and what it means for you. Here are five reasons working with a professional can ensure you’ll get the most out of your sale.
 
1. They’re Experts on Market Trends
With today’s housing market defined by change, it’s critical to work with someone who knows the latest information and how it impacts your goals. An expert real estate advisor knows about national trends and your local area too. More importantly, they’ll give insight to what all of this means for you, so they’ll be able to help you make a decision based on trustworthy, data-bound information.
 
2. A Local Professional Knows 
How To Set the Right Price for Your Home
Home price appreciation has moderated this year. If you sell your house on your own, you may be more likely to overshoot your asking price because you’re not as aware of where prices are today. Pricing your house too high can deter buyers or cause your house to sit on the market for longer.
Real estate professionals look at a variety of factors, like the condition of your home and any upgrades you’ve made, with an unbiased eye. They compare your house to recently sold homes in your area to find the best price for today’s market so your house sells quickly.
 
3. A Real Estate Advisor Helps Maximize Your Pool of Buyers
Since buyer demand has cooled this year, you’ll want to do what you can to help bring in more buyers. Real estate professionals have a wide range of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS), to ensure your house gets in front of people looking to make a purchase. Investopedia explains why it’s risky to sell on your own without the network an agent provides:
“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home.”
Without access to your agent’s tools and marketing expertise, your buyer pool – and your home’s selling potential – is limited.
 
4. A Real Estate Expert Will Read – and Understand – the Fine Print
Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. The National Association of Realtors (NAR) puts it like this:
“There’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”
 
5. A Local Professional Is a Skilled Negotiator
In today’s market, buyers are regaining some negotiation power. If you sell without an expert, you’ll be responsible for any back-and-forth. That means you’ll have to coordinate with:
  • The buyer, who wants the best deal possible
  • The buyer’s agent, who will use their expertise to advocate for the buyer
  • The inspection company, which works for the buyer and will almost always find concerns with the house
  • The appraiser, who assesses the property’s value to protect the lender
Instead of going toe-to-toe with these parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.
 
Bottom Line
Don’t go at it alone. If you’re planning to sell your house this spring, let’s connect so you have an expert by your side to guide you in today’s market.
 
 

 
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Some Highlights
  • As you get ready to sell your house, there are specific things you can add to your to-do list.
  • These include decluttering, taking down personal photos and items, and power washing outdoor surfaces.
  • Let’s connect so you have advice on what you may want to do to get your house ready to sell this season.
 

 
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