Top Nine Realtor Tips For 2017

It sure looks like another seller's market again in 2017, and likely in 2018. As we march into the latter part of the decade, homeownership remains a practical long-term hold and self-enforced savings plan.

Here are 10 tips to adapt to the latest market conditions.

  1. First time homebuyers: Get that starter home now. According to the NAR, more than half of the home sales (52 percent) in 2017 are expected to be to first-time buyers, and mostly to the millennial set (19 to 34 years old).
  2. Sellers: Hire the right agent. The best investment a seller can make is a great agent. A bad one can cost sellers thousands of dollars and months of waiting. Make sure to do your research.
  3. Buyers: There’s more loan money out there. With newer loan programs since the downturn, you don’t have to have as much as 20 percent to put down as in the past.
  4. Sellers: It may be a seller’s market but…. Home sellers can do several simple things to enhance appearance, increase buyer interest and boost their home's profile such as cleaning, depersonalizing and decluttering to better highlight the home to potential buyers.
  5. Renters: It might be time to buy. In many cases, rents are rising faster than home values, yet mortgage rates remain low.
  6. If you’re a buyer, don’t believe the house is yours. Don't bank on a done deal or other verbal promises from listing agents until you sign a contract.
  7. Sellers: The grass is always greener…. Surveys show that strong curb appeal can increase prices by 10 percent or more. Greener grass, whether derived from new sod or fertilizer and water, is a must.
  8. Sellers and buyers: Know the state of your market. A balanced housing market is defined as one with an average inventory of 6.5 months, according to Texas A&M University Real Estate Center research. When inventory remains below equilibrium, sellers enjoy more control over prices and terms, and the area becomes a seller's market.
  9. Sellers: House going on sale in the spring? Do some prep work now, take photos with the changing leaves and inventory of items you will need to declutter during the selling process.

 

*Courtesy of bankrate.com

 


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.