How Much Do You Know About a Shifting Real Estate Market?
If you are looking to enter the housing market, selling or buying, real estate headlines can cause some confusion. What is going on with mortgage rates? Are home values decreasing? How will the economy impact the housing market?
There are some things you should understand before buying or selling:
1) What is going on with the housing market right now?
Look past those fear-inducing headlines and understand what is actually happening. Understand the strength of the current buyer demand. Understand the amount of competition listings have currently and will have in the near future. It is crucial to make an educated decision when buying or selling your home.
2) Why is the market like this?
It is crucial to have a strong grasp on the individual pieces that impact the sale and purchase of real estate. You should also understand how these pieces work with each other. How does the down payment amount affect the buyer's mortgage rate? If you price a home over asking, will it sell?
3) What about your local market?
After understanding the general housing market, you should understand how it will impact your real estate goals. You should also grasp the trends that are occurring in your neighborhood.
The best way to have a strong understanding of these trends is to work with a professional. Our PorchLight agents will guide you to reach your real estate goals. Let's get together.