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?