Spring has sprung! This means that school will be wrapping up soon, and summer will be here before we know it. Spring also means that the real estate market will be booming. The demand for homes in the spring is always increasing because people want to buy a home before interest rates rise. Also the weather is warmer, and people often have more motivation when the weather is nice.

In 2016, we are experiencing a lower inventory. The demand to buy homes is currently greater than the supply. Those who are selling their home will benefit. Buyers will be competing for inventory which will drive up the market value for listings.

We put together a few things you should expect when selling and buying your home this spring.

What to expect when selling your home this spring:

 

  • There will be a high demand, and many buyers will be competing

  • Home buyers want to act before interest rates or home prices rise

  • Overpriced homes will be on the market for a long time, talk to one of our real estate agents to come to a reasonable price that will sell

  • People care about curb appeal, cleaning your home inside and out will be a must

  • Hire a Marketing Magician from our team to ensure your home will be advertised correctly

  • Realtor.com states that the prime-buying season is April-June. That means there is just enough time to get your home ready!  



What to expect when buying a home this spring:

  • There will be many other people looking at the same home you are

  • Those who are buying might have to out bid the listing price to beat the competition

  • Get pre-qualified for a mortgage to ensure that you can act quickly 

  • Don’t settle on the first mortgage quote you see, be sure to shop around to ensure the lowest interest rate possible. According to Realtor.com, Mortgage rates are expected to reach 4.65 percent this year. Right now they are currently just under 4 percent.

  • If you start your search early, and know what you want you will experience less competition

Like always, if you have any questions or concerns please contact our team of professionals.