Reasons Why You Should be Smiling About Real Estate Right NOW
Coming off the heels of a great 2012, Realtors are charging ahead with big plans for 2013. There are many reasons to be optimistic for the new year when it comes to real estate.
Builders are happy. Construction workers wouldn’t be breaking ground on new homes if they weren’t sure these homes would sell. They’ve assessed the market and know that people will be looking for new homes in 2013.
There are numbers to back up the talk. The number of home sales from September to October 2012 increased by 2.1%. If you compare October 2011 to October 2012, home sales saw a 10.9% increase.
Inventory is low. You’re probably thinking, how can this be a good sign? But when there is low supply, there is high demand. This will cause prices to increase and when prices increase it encourages people to put their homes on the market.
Two big incentives are still in place. Renters are still charging astronomical prices for rent, which pushes people to purchase homes. Mortgage rates are still very low. With mortgage rates low, people are doing the math and realizing a mortgage may be less than their monthly rent.
Don’t Make These Listing Mistakes When Putting a Home on the Market
Potential home buyers have tons of options when it comes to searching for a new home. With the internet available, many of these options are at their fingertips. It’s the agent’s job to make their home stand out to these potential buyers. If you’re listing a house, avoid these mistakes that may make your home less appealing to buyers.
No photos. Buyers tend to be skeptical about houses, so why not lessen the skepticism and include photos of your home? Including photos can give buyers an idea of what they’re walking into when they schedule a showing.
Lack of details. This is especially important in a short sale. If there is confusing language or a lack of details regarding lender approval, buyers can be hesitant about looking.
Pricing too low. Many problems can arise with low pricing on a how. Low pricing can attract unqualified buyers or scare of potential buyers because of fear of entering a bidding war.
Listing the home “as-is.” This term can lead potential buyers to think that a home may be in rough shape and this can deter them from looking.
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