The previous couple years’ doom and gloom outlook is looking like it is turning more upbeat and robust for the rest of 2013.
Home Prices Climb Nearly 10% Over Past Year
In fact, a recently released report by CoreLogic stated that home prices were up 9.7 percent from one year previously.
That kind of increase is a very good sign that the momentum may be building for a strong real estate market this year.
Many other economic experts are predicting that things might be improving this year, including increases in both home prices and sales.
Here are some of the ways that these positive changes may impact home buyers and sellers this year.
Attractive Financing Options
Interest rates could remain at the lowest levels they have been in years, which can make purchasing a home more affordable.
More buyers will be competing for the homes that are available which could mean bidding wars on homes with more than one interested party.
Be sure to take this into consideration before making your offer, and have a licensed real estate professional representing you in your purchase negotiations.
Great Home Prices
Housing remains affordable in many areas of the country. Although home prices are rising, the cost of real estate is well below what it was ten years ago.
And For Sellers:
Marketing Is Vital
Working with a skilled property professional is imperative to ensure the best advertising and marketing for your listing.
Real estate agents have access to the Multiple Listing Service (MLS), which is where other agents and buyers look for properties that are listed and available for purchase.
Contract Negotiations Prevalent
Multiple offers will become more commonplace. Do your research on how to best handle contract negotiations.
Maximize Your Selling Price
Make sure you get the most for your home. Know what other properties are selling for in your neighborhood, and consider hiring a designer to stage your home for showing.
With the Chicago real estate market shifting, both buyers and sellers need to be aware of how the changes could affect them.
Whether you’re looking for your dream house or wanting to get the highest return on your home for sale, a great next step would be speaking with a qualified real estate professional.