‘Tis the season for friendly gatherings, and you know what that means. Everyone and their aunt Susan are going to be asking questions about the real estate market.
It makes sense. After all, it’s the single most important investment most people make in their lives.
The fact of the matter is, the housing market is one of the hottest media topics right now, and everyone’s got an opinion on it.
So, sit back, sip some eggnog, and check out the top questions I’ll expect to answer this holiday season.
Are Mortgage Rates Going to Go Up?
Coming into the end of the year, mortgage rates are at a historic low. With the price of homes going up due to a strong economy and high demand, mortgage rates are helping to balance it all out by keeping things affordable.
Essentially, the lower your mortgage rate, the lower your monthly payments.
With Freddie Mac predicting that mortgage rates should stay where they are for the next 12 months, this shouldn’t be changing anytime soon.
Is Now a Good Time to Buy or Sell?
With millennials coming into the “home buying” age, this is a question I’m going to get more and more. This goes twofold for people looking to sell their home and move up.
The short answer is: yes and yes.
As said above, low mortgage rates mean it’s a great time for anyone to buy: whether it’s for the first, second or fifth time. This is especially true for someone looking to upgrade their home and purchase one in a higher bracket.
Are Home Prices Going to Keep Rising?
Data from the leading experts in real estate and mortgage lending says yes.
With mortgage rates expecting to stay where they are and an anticipated 3.5-5% price appreciation happening in the next year, this is without a doubt the best time to buy.
Waiting only means one thing: spending more for the same house.
Do I Need to Update My Home Before I Sell It?
With an influx of flipped homes and new construction making its way to the market, many homeowners wonder if theirs is up to the task of selling as-is.
Making updates could mean a higher asking price. It could also mean investment loss.
Depending on the type of updates needed, the market’s current low inventory levels put any home that hits the market in a good position to sell. Yes, some homeowners prefer to buy a “turn-key” home. On the flip side, others may want to make the updates themselves, so everything is to their taste.
When you’re the real estate agent in your family or friends group, you can expect to get a question or ten about the market. In order to stay the real estate agent in my circle, I need to provide relevant and educated responses that are backed by facts. Education, however, does not rule out or substitute for experience. On the other hand, combining experience with education allows me to serve my clients in the best way possible.
If I can answer any Real Estate questions for you, feel free to reach out and ask.
I speak fluent Real Estate. Go ahead, ask me something!
“Your Best Friend in Real Estate”
Connect with me on my Homesnap account! The best way to search for a home! https://www.homesnap.com/Doug-Robinson