The past year has shown that the Federal Reserve was steadfast in its resolve to lower inflation. That has meant continuous interest rate hikes. We have seen several rate increases during the 2023 calendar year. While I do not expect rates to continue to rise, the current environment of the highest rates in 10 years is likely to stay. Buyers need to start their home search with a review of their finances and a solid pre-approval with an experienced lender. If you want to discuss your options to buy or sell, let’s talk.
Sellers:
The market has changed since you last bought or sold a home. And the change is fast paced. Buyers have a wealth of information that is easily obtained from public records. The internet has made information available on previous sales, mortgages, and tax records. While there is still an inventory drought and spike in prices, do not take that to mean buyers will overpay fair value for a home.
There is often a fine line in the difference between investing for the buyer versus investing for the seller. Making prudent investments in de-cluttering, painting, flooring, kitchen and bathrooms are top priority. Most homes require radon tests and updated smoke alarms prior to selling. Buyers are interested in the age of roofs, HVAC systems, and hot water heaters. They want to protect their investment and know the possible future costs of updating.
Using my systematic method for home valuations I help determine what would be the most profitable renovations. Pricing your home right for maximum value is often the number one goal for sellers. When the objective is selling quickly with no investment, I work with the family to understand those goals and meet their expectations.
Buyers:
For many buyers that I work with, they are buying for the first time in a long time or they might be first time homebuyers. Understanding the search process is important no matter whether you are a Millennial, Gen X, Gen Y, Gen Z, or Baby Boomer.
I like to explain the full range of events that can go right and go wrong for buyers. From multiple offer situations to the inspection, appraisal, financing approval, tax consequences, and closing costs, I want you to know your options and manage expectations. I work with every client from contract to closing.
Getting you comfortable moving to your next home is very important to me.
Let’s work together!
240-620-4783 or david@davidengelrealty.com