Real estate seems to be gaining momentum in most areas of the United States, which is a good thing for both buyers and sellers. In fact, a five percent rise in the median price of existing homes is being predicted by the National Association of Realtors by the end of 2013. Read on for some things to remember if you’re buying or selling this year.
Home Prices are Going Up
Most areas have already seen the bottom of real estate prices, which means 2013 will likely be a better year to sell your home than 2012 was. Mortgage interest rates and home prices are both reasonably low, so buyers who are looking for a home may want to make a purchase before prices and interest rates rise. Lenders are looking for larger down payments than they have in previous years, so buyers should not expect to make a purchase without putting money down.
Take Great Pictures
Many people who are planning to move in 2013 will be starting their search for a new home online, so taking pictures that accurately reflect your home has never been more important. Buyers don’t want to waste time looking at homes that are unattractive or don’t meet their needs. They are drawn to houses that look clean and are presented well. Hiring a professional photographer to take pictures of your home may seem excessive, but their photographs are likely to attract buyers who wouldn’t be interested in your home without such a professional approach.
Room for Renovations
As we step out of a recession second only to the Great Depression, there’s more hope for those that can’t help but see the potential in a fixer-upper. In the past few years, most people looking to buy were not looking for something that needed work—that was just too crazy of an idea given the housing market. But as things start to look up, buying a house that needs some extra love is a great way to have a home unique to your family. Be sure to call on a reliable inspector and contact a remodeling company for some professional advice.
Choose Your Realtor Wisely
Whether you’re buying a home or selling your current home, it is essential that you choose a realtor who will work for you and make decisions in your best interest. It’s tempting to choose the person with the flashiest ad in the phonebook or on the Internet, but it makes more sense to interview a minimum of three realtors and choose the one that you feel the most confident about. If you know anyone who recently bought or sold a home in your area, ask them for an honest opinion about their realtor.