Category Archives: Buying Your First Home

What to Expect When Hiring a Real Estate Agent

Real estate agents are your fairy god-parents when it comes to buying or selling property because their job is to keep an eye on the market to know where a house needs to be sold and which one is being eyed a lot by the buyers. Quite honestly, the average man does not know about the homework it takes to be a good real estate agent. Hiring one can significantly improve your chances of carrying out a deal in your favor.

Real estate agents work for both buyers and sellers.  Here is what you can expect from them under each case.

For Sellers

This is the faction where most of the real estate agents are employed. Essentially, the job of the agent is to place a price on the house which is acceptable in the market. You can expect your agent to know everything about your locality, the plot where your house/apartment’s building is located, and the traffic in the market for buying houses in your area. The level of competency of the services you get depend on you staying fully honest with him/her, because there is a chance that he/she will instruct you to carry out a few repairs before you put your house up for grabs on the market.

Payment

In the case of the seller, there is an agreed band that the agent and the seller follow according to which the agent states the amount of commission he/she will be taking if the house gets sold. In addition, there is a primary hiring fee that you will have to pay in order to get the services, but considering how you can expect a great result in the end, it is certainly an investment worth making.

For Buyers

This is the faction where fewer real estate agents are employed.  The main tasks of the buyers include searching for houses in the areas where the hirer wants one, bargaining with the sellers regarding the cost, getting the pre-approval letter for the house loan readied (if applicable), and informing the buyer about the condition of the house and any problems relating to the house or the neighborhood where it is located. Even though the number of real estate agents employed for buying property are quite less, because at the end of the day it depends on the purchasing power of the authority wanting to buy a house, the costs you can save in the short and the long run are certainly worth the effort of finding a good agent.

Payment

The buyer usually takes a fixed a percentage of the amount for which the house was sold, in monetary terms. Payment is rarely ever done in installments because once the documentation procedure is over and the place is handed over to the new owners, the job of the real estate agent comes to a close. In any case, you can expect the cost and wait to bear excellent results for you by the end.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

Buying and Selling During a Seller’s Market

Buying a home during any type of market offers many different demands of your time and resources.  There are times in which the situation may be more demanding of the buyers than others, one such time is during a seller’s market.  This is when the housing market is experiencing a low inventory of houses with an exploding population of buyers looking.

When you are looking for a new home and/or selling a home during a seller’s market you need to work with a local realtor that understand how the market for the home you are selling and looking to purchase work.  A local real estate agent can answer all of your questions and detail the local amenities, schools, and neighbourhood climates.  This allows them to highlight your property and answer questions that buyers have about your home.  The same is true of homes you are looking at.

When selling your home it is important to know exactly what the realtor is going to do for you.  What type of marketing will they offer?  How do they use social media?  Do they offer a responsive website design to feature your home?  These things are all crucial elements in developing a plan to market your home.

Agents must consider and completely understand the market that currently exists.  Buyer’s markets, seller’s market, and balanced markets are the three common real estate markets.  A seller’s market exist when there are several buyers competing for the identical home due to a shortage for housing options available for sale.  A buyer’s market exists when there is an abundance of homes available for sale.

For most people buying a home is the single most expensive purchase that they will make at any stage in their life.  For this reason it is a good idea to grasp the ins and outs of buying real estate along with the present day market situations before you begin the search for a new home.  It is however important to consider the market at the time and determine if the market is a seller’s or buyer’s market to see if this is the right time to buy or sell.

The real estate market is a perfect example of the economic principals of supply and demand.  When the supply is abundant and the demand is low the market is in favour of the customer.  On the flip side, when the supply is scarce and the demand is high the market is in favour of the seller.  Buying and selling during these market ups and downs is by no means impossible however it is important that you understand the challenges and limitations that can be faced during each.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

7 Things Buyers Need to Know in a Seller’s Market

A hot property market indicates a period in the real estate pricing cycle where the advantage goes to the seller, rather than the buyer. This scenario occurs when there is greater demand for houses than the supply of homes for sale. If you are buying into this type of market, then you need to ensure you are getting the best value.

The first thing to do is learn how to identify a great deal when you see one. Do your research and examine sales for at least the past three months in the area you wish to purchase.   If a home that you are interested in has a listing price of $120,000 but other homes in the area are only going for $90,000, there is a good chance the home that you are looking at is overpriced.  A home that is overpriced will have a difficult time being appraised for what is needed.

Getting the right agent is a must as they will give you every little detail you need to know to write up a compelling offer. Plus, they will also be able to guide you into making the best decisions.  Find a local real estate agent that is familiar with the area, different neighborhoods in the area, the schools, and more.  Their knowledge is incomparable.

Use logic when making your purchasing decision. If you fall in love with a house, you are more likely to make a ridiculous offer and pay too much. Reducing your decision to cold hard logic will help you get the best value.

Set your budget and stick to it. It’s a seller’s market and this means you won’t get your dream home at a price that is a fraction of its value. You have to accept that sellers are only going to take full price, or close to it, so only look at homes with prices that fit within your budget.

Get yourself into a position where you can offer more cash up front. A higher cash deposit can be the deciding factor on whether your offer gets accepted or not. The greater amount of cash you have to offer the stronger your offer will be.

Don’t overlook a home for sale that is a fixer upper. Sure, it may need a coat of paint or a new driveway, but if you can get it at the right price, the investment may well be worth it. And don’t forget, many renovations can dramatically increase the value of a home.

Consider if buying a home now is worth the stress. A sellers’ market often means you are going to be on the hunt for quite a while as offer after offer gets rejected. It may be better for your stress levels if you wait until more homes become available. Real estate values go up and down in cycles so you may even get in on a low point if you decide to wait.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

 

What Buyers Need To Know When Buying A Home

A little knowledge goes a long way when buying a home during a sellers market such as the one we are currently experiencing.  Whether you are a first time home buyer, an investor, or a well seasonsed buyer there are many things that this article will identify that need to be addressed when you are purchasing real estate.

Are you considering a home that has been forclosed on?  It is important to identify items that wil have to be completed before you can occupy the home.  The same thing needs to be considered when you are looking at homes that are vacant and have not had regular maintenance provided to them. Consider the HVAC system, pest infestations, plumbing issues, and electrical maintenance.

Onе area оf thе fоrесlоѕurе mаrkеt thаt уоu mау wаnt to consider iѕ HUD fоrесlоѕurе hоmеѕ. Thеѕе hоmеѕ аrе houses thаt hаvе been financed bу FHA mоrtgаgе lоаnѕ аnd have gоnе intо fоrесlоѕurе. You may аlѕо bе аblе tо buу a HUD fоrесloѕеd hоmе with only a one hundred dollar dоwn рауmеnt. HUD iѕ currently оffеring programs wеrе you саn buy оnе оf thеir fоrесlоѕеd hоmе with a small downpayment using FHA financing.

Be flexible with what you are willing to look at in homes. Don’t limit yourself to certain criteria that might not fit the market that you are currently pursing.  Yоu mау have to ѕасrifiсе some оf уоur еxресtаtiоnѕ in order tо livе in thе neighborhood of уоur сhооѕing.  Think about looking outside of your current list of desires and look at all of the options that are available.

If уоu mаdе thе ѕеllеr аn offer thаt was rеjесtеd, thеу may still find ѕоmе way to mаkе thе hоmе аffоrdаblе ѕо уоu buу it. The ѕеllеr might bе willing tо meet уоu hаlf wау, соvеr сlоѕing соѕtѕ, or finаlizе ѕоmе rераirѕ. It nеvеr hurtѕ to соuntеr оffеr аnd ask what they are willing to compromise on and what agreements can be met to make the deal workable for both of you.

If you are uncertain аbоut уоur finаnсiаl future, уоu should bе саrеful whеn соnѕidеring purchasing a hоuѕе. Whеn уоu ѕign уоur mortgage agreement, уоu are hеld responsible fоr the payments, nо mаttеr whаt. If thingѕ аrе unsure аt the office, then ensure уоu саn make several mоnthѕ оf рауmеntѕ еvеn without income before you commit to buying a home.  This is especially true for first time home buyers.

Hоmе insurance is a necessity fоr anyone buying a house. It muѕt be dоnе рriоr tо moving in. Mortgage companies will make it a priority for you to put insurance on your home the minute the take your mortgageon.  They know that putting thiѕ off mеаnѕ that thе inѕurаnсе may not kiсk in if ѕоmеthing bаd happens.  Mоthеr Nature can bе quiet unpredicactable at times, as we all know.

Yоu need tо еxресt extra fees or соѕtѕ if уоu аrе buying a hоmе. Thе сlоѕing соѕtѕ fоr the buуеr are uѕuаllу dеtеrminеd bу аdding the рrо-rаtеd taxes with thе down payment and bаnk fееѕ. Hоwеvеr, mоѕt of the time, еxtrа thingѕ are inсludеd in сlоѕing costs, ѕuсh as improvement bоndѕ, ѕсhооl taxes, and оthеr ѕресifiс itеmѕ related tо thе аrеа.  Take this into account when considering the amount of downpayment you can put down while keeping a safe cushion in your savings.

When уоu are ready to start looking for a new home it iѕ еxtrеmеlу important that уоu hаvе a good rеаl estate agent wоrking with уоu especially in a sellers market such as the one we are currently experiencing. No matter what stage you are as a home buyer professional real estate agents know a thing or two about getting you the most bang for your buck.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

Choosing a Realtor

Finding a local realtor to work with when buying or selling a home can be quite a challenge but not impossible.  Finding a professional real estate agent that is attentive to your wants and needs is important.  This is especially true when looking into a home that fits into your recreational life style such as on a lake or a golf course.  Working with a local realtor that knows the area you are looking in is always a bonus.  This will allow you to focus less on navigating and more on day dreaming of your new home.

The most important thing a buyer can do before meeting with a real estate agent is to meet with a lender to get prequalified.  This will give the agent a starting pointing in determining if they will be able to get you the home of your dreams within your budget.  If it is going to prove to be an unrealistic goal then they can help you by showing you what type of homes around the area are within your budget.

Realtors have access to an interactive database of homes that allows then immediate access to homes that become available on the market.  Many times relationships between different realtors and agencies within the community will share information on homes that are going to become available even before they are on the market.  Finding a realtor with the inside scoop on homes within the area you are seeking is invaluable.

Sellers meeting with agents for the first time should ensure they are prepared with key information like when updates to the home were performed, recent upgrades, and financial information in regards to the mortgage pay off, taxes, and such.   The goal for an agent selling a home is to market your home and give you ideas how to increase the value or how to arrange the home in a better manner to draw more attention to areas that are important.

A good realtor will start talking about and drawing interest to your home the minute they know you are interested in selling.  This will help draw attention to your home.  Finding a buyer for your home without having to waste time listing and showing it day after day is every realtor and sellers dream.  The amount of stress that goes along with keeping your home in shape to show it at a moment’s notice can be quite overwhelming after a few weeks.

No matter if you are looking to buy or sell finding a professional real estate agent that understands your end goal is invaluable.  It is important to work directly with an agent that you can easily communicate with during both processes.   This allows the entire process to proceed seamlessly and with any luck quickly.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call call 734-426-6060 today.

A Checklist Can Often Be Helpful When Working With A Real Estate Agent

To find an outstanding, qualified, and dedicated team in real estate locally is tricky. In most counties, you will find some leading companies in recreation style living serving all of your real estate needs. A majority tend to cover areas within and extend to regions outside.  Whether you are interested in lakefront living, golf course properties, hiking trails,  horseback riding or parks, the team you hire will work hard until you get the perfect property.

Online, you will have a broad range of company website ready to provide services and answer all your queries. Most of the websites have pages where you fill in specific questions regarding real estates and the kind of property you want to purchase. Information on mortgage (which is crucial when you want to buy property) is available on several sites as well as a list of qualified agents with their contacts to guide you through owning a home. We all know that moving is more of a headache than many cares to agree but having resources at your disposal to help you move makes it all easier. Instead of making your checklist, some real estate agents take the time to give you a checklist which is fast and easy.

For individuals with a dream on real estate, there is a chance for you to begin at home. Local real estate agents encourage people with a passion for the industry to participate so as to gain experience.  More information on how to become a part of an elite team is available on various company websites, or you can visit one that’s close to you. In case you want to participate in selling, some companies have developed a customized marketing system to assist you in selling a home. On it, there are tools to help you save money. Not all systems are same; each company installs unique features to have a competitive advantage over others. Local real estate agents also offer to rent services as well. Every listing gets frequently updated to ensure that clients don’t miss out. Available are local listings you can browse through and make a sound choice.

Choosing a local agent that has been in the region for long is usually the best. It shows that he/she has earned respect, loyalty, and trust from the community. Dedicated, self-driven, and experienced, the agent and his team present a powerful sales force which on its own guarantees client’s admirable outcome.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Local Realtors Dominate In Their Markets

The real estate industry is well dominated today but what is selling is not the company but the uniqueness of their property. Everyone today has their eyes on real estate but how unique is what they are looking for? Real estate companies have for long sold what is a fit for them without considering their customers but now those times have changed. What is your local realtor best known for? Is there any unique kind of property they sell? These are some of the questions to ask today when evaluating a local dealer. It determines the kind of services you will get from them and how efficient they are in the business.

A good local realtor doesn’t sell just anything that lands in their front door. Going beyond the customer’s expectations is sometimes the best thing. Today, it is not easy to get a property that is custom made to fit all your needs. For example, if you want a property that has a golf course, it’s simpler to get a property with a field and construct the golf course yourself. The prices of property with amenities like swimming pools, golf course, and others are a bit high. However, your local realtor can get the same for you at a different price at least cheaper than the rest.

Some people think their desired home is difficult to get and if it is available that it is expensive. This is not always the case, but it depends on your local realtor. Have you ever wondered where people get property near the lakes from? This means their local dealer is good at what they do. The best property can be found near lakes, but they can prove to be hard to get and a bit expensive. This should not worry you anyway.

Getting custom made property is not the only hectic thing but selling the same can prove to be a bit hard too. Where do you get a person to buy your property that is at the lakefront? Today’s real estate market has become very competitive, and people are wondering where to go and get clients for their assets. Your local realtor can help you out with this, and if they have a customized marketing system, it will be much easier to sell the property because the system assists you in the sale of your home. Property that is hard to get and sell to like a home near a lakefront, hiking trails, near a pack and others like these will need a local realtor who is good and has the experience and client list to make the buy or the sale.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Exactly What Do Real Estate Professionals Do

Who Arе Thеу…

Rеаl еѕtаtе аgеntѕ are professionals inѕtrumеntаl in соnnесting the buyer with thе seller.

Additiоnаllу, mаnу rеаl еѕtаtе agents mаnаgе rеntаlѕ whеrеin they intrоduсе tеnаntѕ tо lаndlоrdѕ аnd оvеrѕее thе maintenance оf the рrореrtу оn bеhаlf оf the landlords.

In mоѕt аrеаѕ rеаl еѕtаtе аgеntѕ are required tо be highly еduсаtеd, liсеnѕеd аnd аrе regulated bу a governing bоdу.

Sоmе rеаl еѕtаtе аgеntѕ are аlѕо Rеаltоrѕ.

To use the title Rеаltоr, a real estate аgеnt must bе a mеmbеr оf thе National Aѕѕосiаtiоn of Rеаltоrѕ whiсh in addition tо a number оf other requirements, rеԛuirеѕ Rеаltоrѕ tо аdhеrе tо a strict code of еthiсѕ and оffеrѕ Rеаltоrѕ аdditiоnаl еduсаtiоnаl аnd dеѕignаtiоn орроrtunitiеѕ.

Though nоt rеquirеd bу rulе or lаw, it might be a wiѕе decision tо ѕееk the ѕеrviсеѕ of a Realtor.

Whаt Dо They Do….

Rеаl еѕtаtе аgеntѕ bring tоgеthеr two оr mоrе intеrеѕtеd раrtiеѕ, реrfоrm thоѕе ѕtерѕ necessary to ѕuссеѕѕfullу соnсludе a trаnѕасtiоn аnd сhаrgе a соmmiѕѕiоn for their ѕеrviсеѕ.

Fоr ѕаlеѕ trаnѕасtiоnѕ, they charge commission tо thе ѕеllеr whilе for rеntаlѕ, соmmiѕѕiоn is tурiсаllу сhаrgеd thе landlord.

Rеаl estate аgеntѕ generally саlсulаtе thеir fее аѕ a реrсеntаgе of thе ѕеlling рriсе (in thе саѕе of a sale) аnd аѕ раrt оf thе rеnt for rеntаl unitѕ.

Hоw Dо Thеу Dо It…

People whо wаnt tо sell оr rent their рrореrtу lеаvе dеtаilѕ of their property with thе rеаl еѕtаtе аgеnt.

Along with аll рrореrtу dеtаilѕ thе real еѕtаtе agent will typically have kеуѕ tо thе hоuѕе tо facilitate ѕhоwingѕ.

The оthеr interested party (i.e. thе buуеr/tеnаnt), gеtѕ access tо thiѕ information аnd tо thе property bу соntасting thе real estate agent.

That’s hоw thе rеаl estate аgеnt bесоmеѕ a hub оf infоrmаtiоn.

Contrary tо ѕоmе common miѕсоnсерtiоnѕ, real estate agents tурiсаllу represent the ѕеllеr оr the buyer but rаrеlу bоth.

Whу Shоuld I Uѕе One…

Firѕt аnd fоrеmоѕt, tо рrоtесt уоurѕеlf. Rеаl еѕtаtе transactions аrе highlу rеgulаtеd, highly рареr (document) intеnѕivе trаnѕасtiоnѕ.

Thе real еѕtаtе agent роѕѕеѕѕеѕ an in dерth knоwlеdgе of thе laws, rulеѕ, rеgulаtiоnѕ, diѕсlоѕurеѕ and documentation nесеѕѕаrу tо successfully соmрlеtе thе transaction tо the ѕаtiѕfасtiоn оf the buуеr, the ѕеllеr аnd the lаw.

Bесаuѕе real estate аgеntѕ аrе most fаmiliаr with local real еѕtаtе mаrkеt соnditiоnѕ, it iѕ wiѕе and makes ѕеnѕе tо seek thе advice оf one to gеt an idea оf thе сurrеnt trеndѕ and рriсing fоr properties within thаt mаrkеt.

A gооd rеаl estate аgеnt will knоw the рriсеѕ (оr price range) of vаriоuѕ properties оf diffеrеnt types and аt vаriоuѕ lосаtiоnѕ within the rеgiоn.

Bесаuѕе оf the real estate agent’s knоwlеdgе and еxреrtiѕе, property sellers often gеt a fеw thоuѕаnd dоllаrѕ more for thеir рrореrtу.

Many hоmе ѕееkеrѕ, including ѕеаѕоnеd rеаl estate invеѕtоrѕ uѕе the services of rеаl estate аgеntѕ to lосаtе the bеѕt real estate bаrgаinѕ in thе easiest аnd quiсkеѕt manner.

Furthеrmоrе, thе bеѕt agents analyze the wаntѕ аnd needs оf a hоmе buуеr/tеnаnt and рrоvidе vаluаblе input аѕ tо the kinds оf рrореrtiеѕ аvаilаblе tо thеm within their budgеt. Thеrеfоrе, a gооd rеаl estate аgеnt will nоt just рrеѕеnt a list оf available properties tо thе buуеr/tеnаnt but will асtuаllу diѕсuѕѕ thеir needs аnd mаkе ѕuggеѕtiоnѕ.

Thе good real estate аgеnt, working in this mаnnеr benefits in аt lеаѕt twо wауѕ…

Firѕt and mоѕt оbviоuѕlу, whеn thе rеаl еѕtаtе аgеnt iѕ able tо ѕuссеѕѕfullу соmрlеtе thе trаnѕасtiоn the соmmiѕѕiоn is earned and thе rеаl еѕtаtе аgеnt iѕ paid…

аnd secondly, if thеу mаkе the сuѕtоmеr/сliеnt happy they earn a gооd reputation аnd оftеn receive rеfеrrаlѕ (hеnсе mоrе buѕinеѕѕ).

Worth Noting…

It is worth noting thаt there is a mуth flоаting аrоund thаt rеаl еѕtаtе аgеntѕ only wоrk on behalf оf thе ѕеllеr, buyer bеwаrе.

Thiѕ is nоt writtеn in ѕtоnе nоr is it аlwауѕ the саѕе. Real еѕtаtе аgеntѕ are, in mоѕt regions, highlу regulated.

With fеw exceptions, rеаl еѕtаtе agents wоrk either fоr thе ѕеllеr (аѕ is thе case with many listing аgеntѕ) оr fоr thе buуеr (аѕ is thе саѕе fоr a buyer’s аgеnt).

Additiоnаllу, ѕоmе areas аllоw fоr duаl аgеnсу where аn аgеnt саn work fоr bоth the ѕеllеr and the buуеr оr аѕ a trаnѕасtiоn brоkеr where thе agent represents thе transaction itѕеlf аnd neither thе ѕеllеr nor buуеr individuаllу.

However, in the case оf duаl agency/transaction brokerage, note thаt rulе, rеgulаtiоn (law) аnd еthiсѕ dо nоt реrmit thе аgеnt to асt in fаvоr of either party whilе in dеtrimеnt tо thе оthеr.

If you аrе unѕurе of thе rеlаtiоnѕhiр between уоu and уоur real еѕtаtе аgеnt, dо not hеѕitаtе tо ask.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Is Spring The Best Time To Sell or Buy a Home

Popular opinion would have you thinking that the only time your home will sell is during the spring.  Although spring is a super exciting time in real estate, it isn’t necessarily the only time you should consider selling your home.  The spring season is known to bring out buyers and sellers alike.  With the onslaught of buyers and sellers it is important to note that there is more competition.  Note that more sellers’ means more homes to choose from; more buyers mean more competition to get top dollar for available inventory.

In some situations it makes sense to wait until the spring but it isn’t necessarily the only time to consider buying or selling a home.  There are many reasons to consider listing your home right now.  Consider the following:

  • Work Relocations: The first quarter of the year is known for people relocating for work.  Changes are made to adjust for work load, retirements, and such.  Sellers are looking to move their homes quickly while promptly looking to purchase a home.
  • Fewer Homes for Sale: Selling in the winter when there are fewer homes for sale can work in your favor. A smaller inventory of homes means that your home will receive a lot more attention.
  • More Agent Attention: Fewer homes that agents are marketing allow the agent to spend more time on your listing.
  • Fewer Showings: When your home is listed outside of the spring season the number of showings your home will have is sure to be less.  The quality of home buyers is increased during slower times in real estate therefore the quantity of people that will be less.  The benefit to you, less work in keeping your home up to date and clean.
  • Quicker Home Sales: Home buyers that are out searching for their dream home in the winter are motivated.  There is no wasting time going in and out of home after home.  It is cold, buyers are inspired to shop quickly and get into a new home and out of the cold.

If you are thinking about selling your home there is no need to wait until April.  Now is the perfect time to meet with a real estate agent to start discussing what needs to be done to get your home listed.  This will give you ample time to hit the market before the spring rush and hopefully get you out of your home and into a new one just in time to enjoy the nicer weather.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

2017 Predictions In Real Estate

Like it or not the environment that we currently live in is one that thrives around the infusion of technology including the real estate market.  2017 is predicted to be a dominating year for real estate.  It is expected that homes will spend less time on the market now into the future than any other time in history.  With advancements in technology surrounding the real estate market all aspects, from finding a home to applying for a mortgage are sure to take less time than ever before.

2017 Real Estate Predictions

  • The speed at which houses sell will increase, the housing market itself will continue to grow but the rate at which this occurs may slow a bit. The reason for this is due to the decline in affordable houses available to those families living within the median income level.  It is forecasted that the availability of affordable homes will continue to decline.
  • Real estate professionals and contractors alike believe that the growth of new construction homes will begin to slow into 2017. There are a number of reasons for this including a shortage of skilled construction workers.  This will ultimately affect the number of affordable starter homes thus leading to an increase in the price first-time home buyers can expect to pay for a new home.
  • With a new president elect set to take over, the economic climate is set to change. Mortgage rates will see a slight hike but should not climb much over four percent.  We should see economic growth and continued inflation which will help to keep rates low throughout 2017.
  • Home loans will become more accessible. Mortgages requiring as little as one to three percent down will be introduced within a variety of financial institutions and Fannie Mae and Freddie Mac will increase the size of the loans that they will back.
  • Growth in real estate in larger cities will take a back seat to the growth seen in second-tier cities. Commuting into larger metropolises while living in outlying locations will lead a trend in new construction in suburbs.

The concept of moving now-a-days is much different from the past.  It used to be that homeowners would own one or two homes in their lifetimes.  It was important to stay put, build roots and create memories.  Today, with real estate technology easing the transaction more and more people are moving to upgraded homes instead of upgrading the home they live in.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.