Two Things Sellers Should Know This Spring
There have been many changes in the last year and you may be wondering what the future holds for spring’s housing market. Here are some things real estate experts recommend you keep in mind if you plan to sell your house this spring. Houses That are Rightly Priced are Still SellingHouses that have been updated and priced at the current market value are still selling. Jeff Tucker, Senior Economist at Zillow says: . . Sellers who market their home effectively and price it competitively should have no problem finding buyers. This is because the market has changed significantly in the past year. Danielle Hale, chief economist at realtor.com, explains that the spring market will have a smaller pool and more competition for homes. Homeowners will need to adjust their expectations about the market. However, sellers who have realistic expectations and rely on a real-estate expert for good advice on pricing their home well are still able to find success. This is great news for anyone thinking of selling. Some buyers are still out there. Mortgage rates have risen and remain volatile, so some buyers have stopped buying. There are many reasons that people are buying homes today. Bright MLS Chief Economist Lisa Sturtevant explains the mindset of today’s buyers. “For some buyers, higher mortgage interest rates simply mean that buying a home is impossible unless home prices drop.” Higher mortgage rates may be a barrier for some buyers, but they will not stop them from entering the market again after being on the sidelines for months. Talk to a trusted advisor if you are unsure if this is the right time.
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