Another Christmas season is upon us and millions of us are asking where another year went! We love this truly magical time of year and oddly enough, homes continue to sell at a great pace even in December. There continues to be a listing shortage which has driven this Seller’s market for a few years now. All indicators tell us that 2018 will be another strong year for our local real estate market and it should be another Seller’s market with strong buyer competition. If you are a home Seller that is considering selling, there are lots of qualified Buyers out there looking for homes. Some of my peers will disagree, but we love Christmas decor to make a home feel warm and festive. If you’re a Buyer looking for homes, you can often get the jump on other Buyers who are busy with holiday events or travel. December and January have been our 2 strongest months for a few years now oddly enough. Make it a fantastic December weekend!
Everyone is asking this question! In the geographic areas I work in (Oakland and Macomb counties especially) we have seen three consecutive “seller’s markets” over the past 3 years and I believe we will see one more. Interest rates are edging up but they will likely remain very palatable for 2017. However as they inch up, that will continue to motivate Buyers to find that perfect home before rates climb higher. Available homes for sale remain low and has for the past 3 years, which continues to push values up and I don’t see that changing. Many potential Sellers have been apprehensive about putting their home on the market with fears of not finding their next home, which has created a double edged sword. It has been tough for Buyers because of this listing shortage but if we move quickly, we can find you that dream home. For the “snowbirds” moving to their already existing southern home it has been fantastic since we can usually sell their homes very quickly and they don’t have to worry about finding another. In a nutshell, we should see another great year of increasing values which is great news for everyone.
Happy New Year and make it your best year ever!
We are witnessing what always happens in a recovering real estate market. New Realtors, new real estate offices, contractors, etc. pop up everywhere to try and make some fast money. Then when the market cools they will disappear, close and go out of business just as quickly, moving on to make fast money somewhere else. When choosing a real estate or construction professional, do your research! No matter who you choose, trust your assets to those that represent the industry through good times and bad. Those of us that work even harder in bad times to maintain as much of our values as possible, then to help them recover. These are the professionals that work for our local values, not to make some fast cash and move on. It baffles me how someone will trust their most valuable asset to a nephew that “does real estate on the side.” Would you trust a surgeon who dabbles in his trade to do your major surgery?
While homebuyers are as individual as the homes they plan on purchasing, one thing they share is a desire to ensure that the home they will call their own is as good beneath the surface as it appears to be. Will the roof end up leaking? Is the wiring safe? What about the plumbing? These, and others, are the questions that the buyers looking at your home will seek professional help to answer.
According to industry experts, there are at least 33 physical problems that will come under scrutiny during a home inspection. We’ve identified the 11 most common of these and, if not identified and dealt with, any of these 11 items could cost you dearly in terms of repair.
In most cases, you can make a reasonable pre-inspection yourself if you know what you’re looking for. Knowing what you’re looking for can help you prevent little problems from growing into costly and unmanageable ones.
See the link below for a printout (double sided, 3 fold brochure) of the 11 Things You Need to Know to Pass a Home Inspection. Not only do you need to know but you, more importantly, need to fix, repair, install or replace!
Recently RE/MAX of Southeastern Michigan projected the Top Real-Estate Trends for 2014. I completely agree with all points made in this article.
Demand is sky high due to a lack of homes available for sale and it continues to push prices higher. While so many people have complained that “mortgages are hard to get”, I just didn’t see that in 2013. Now I may be one of the few, but my clients ranged from $75,500 to $728,500 so my demographic is very broad and it isn’t like I was in a select market.
2014 is going to be an excellent year again for Sellers, our area values and for Buyers, but homes will be harder to find. Buyers have to be made aware that homes area a bit harder to find, but if they are patient we can find that perfect home for them! If you are a Seller and have been waiting for values & prices to come back, now is the time.