Monthly Archives: March 2016

Tips To Buying and Selling in 2016

At the first sign of spring both home buyers and sellers get anxious.  This is the time of the year that many homeowners wait for to list their homes in search of something bigger and better.  The season brings a flux of new home buyers looking for their first homes, buyers looking to upgrade and sellers anxious to sell in order to move on to the next phase of life.  No matter where you are at or who you are in the equation one thing remains the same; spring is the perfect time to buy and sell real estate.

It is important to have the market on your side.  2016 is said to be a year filled with a new competition between buyers that hasn’t been seen in recent years due to the relatively low housing inventory, slow increase in interest rates and home prices.  People are ready to settle into a home at a reasonable price while taking advantage of the current lower interest rates.  Economists have long predicted that the interest market on home loans would start to see hikes as the economy recovers.  This article is filled with tips for both home buyers and home sellers so that they can understand what is important right now in the real estate market.

Top Buying Tips For 2016

  • Don’t Delay: Many home buyers want to time their purchase to coincide with the spring or summer season. This is problematic because this is a theory many buyers use which leads to a high demand for homes within these seasons, which drives up competition and therefore the price sellers can ask.  Start looking for a home immediately.The home buying process is not something that occurs overnight.  Rest assured that beginning your search today doesn’t mean you will be moving right away.  Meet with a local, professional real estate agent right away. They will access your wants and needs and be able to locate homes within a database that may interest you.  Start the process by driving by the locations.  Scope out the neighborhoods, schools and other areas of interest; if you happen to love the home look at it but again the time table is one in which you set.
  • Work With A Mortgage Specialist: A mortgage broker is a specialist who will look at your current financial situation and seek to find a mortgage lender and home loan option that is most advantageous. A mortgage specialist will help to find you the best type of loan and rate for you while examining just how much you can truly afford to take on.  A pre-approval from a mortgage broker is also a huge bonus when it comes to having an offer accepted on a home.  Sellers are looking for buyers that are committed and ready to buy.
  • Consider New Construction: 2016 has been deemed the year of that new construction begins to surge. The prediction is that the new construction market will grow sixteen percent this year alone.  If you choose to buy a new home there is often less competition and a larger selection of homes to choose from.  The con however is that new construction homes often start at a premium price tag.

Top Selling Tips For 2016

  • List Now: The prime season to buy a home is historically April through June. Now is the time to get your home ready to sell and listed on the market.  A larger population of buyers is said to be seeking to buy homes during the spring and summer seasons.  Take advantage of this.  More buyers can often lead to bidding wars resulting in higher prices and quicker closings.
  • Be Reasonable: Don’t try to oversell your home. This is an issue many real estate professionals face when listing a home for a seller whom deeply regards every cent of home improvement that has been put into a home.It will not matter that you put in all new landscaping when you moved in five years ago other than the home looks better and is up kept.  Some renovations will not offer a return on investment.  Listen to the professionals when pricing your home to sell.  Price your home to sell based on the market and comparable homes in the area.  This will ensure it sells quickly and effortlessly.
  • Offer An Incentive: No matter what is being sold people love a deal. Offer an incentive to buyers. Be willing to negotiate in areas other than the homes price.  For instance, if you live on the water and are moving inland consider throwing in the boat.  If a buyer mentions that love your dinette set be willing to counter offer a higher priced offer but include the dinette set.  This is often a win-win situation for buyers and sellers.

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.

Tips To Find Your Dream Home This Spring

Spring is a great time to buy a home.  With the spring home buying season about to fully get underway there are a few strategies to keep in mind to ensure you find the home of your dreams within your budget.

Professionals within the housing market industry are anticipating a busy home buying season for 2016. The inventory is here, the market itself is stable and there are concerns that the interest rates on home loans have seen their lowest days are on the rise.

If you hope to be successful in the present market it is important to have a strategic plan in place to approach finding the home of your dreams.  Be prepared and incorporate the tips below when buying a home this spring.

  • Ditch The Computer

With over ninety percent of homeowner looking online for the home of their dreams it may benefit home buyers to look elsewhere.  Get outside; start canvassing areas in neighborhoods that meet your needs.  Work with a realtor to help narrow the window of area homes that meet all of your wants and needs within your budget.  Having a real estate agent that completely understands what you are looking for at the start of the busy spring season is a must.  They often have ties to homes going on the market, which you can preview before anyone else.  New homes hit the market quickly.  Get in, preview the space and make an offer before the seller is even prepared to list the home to ensure you the pick of the litter when it comes to homes hitting the market this spring.

  • Understand the Current Housing Market

Each housing market is a bit unique.  This is true of different neighborhoods, school districts, towns and more. The area in which you are looking is distinct and the housing market within will be exclusive to that space.  It is important that buyers understand the current housing markets of the areas that interest them and hire a real estate agent that fully embraces the concept.  The entire process can hinder on the uniqueness of the market in which you are looking.  Research and educate yourself before it’s too late.

  • Get Pre-Approved and Lock In Low Mortgage Rates

Mortgage rates have begun to fluctuate.  The economy of 2016 is different than that of years past.  We are seeing economic recovery, new construction and home remodeling increases and with that eventually come higher interest rates.  Mortgage specialists have indicated that they don’t expect these low mortgage rates to last into the summer buying season.

Mortgage brokers have indicated that all signs pointing from the Federal Reserve are that interest rates will begin the spring buying season low and will increase slowly throughout the season and into the summer buying season.  The concerns about heightened home prices and increases in rent will continue to exceed the increase of earned wages; before it is too late lock in a low pre-approved mortgage rate.

  • Construct a Dream Team

The spring home buying season can be competitive and fast paced.  With this in mind it is important that buyers have a team in place that allows them to make an offer on the perfect home at a moment’s notice.  Your dream team should consist of a professional real estate agent, a mortgage specialist with several lenders and loan options in place, a lawyer and home inspector.  With your pre-approval in hand you are ready to complete the mortgage process quickly once a property is found.  Eager sellers will often benefit from a quick sale and can compensate accordingly.

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.