The Housing Market And The Help Of Realtors
Home ownership was up 64.4% in the third quarter as most Americans brought homes in the summer months recently. According to the Census Bureau, the real estate market increased half a percent as compared to last year.
This is showing a positive increase, as the last few years have been bumpy. Numbers hit an all-time high at 69.1% in 2004 and in 2016 they bottomed at 62.9% as most Americans lost their homes during this time, so it’s good to see that they are finally on the rise again.
Since October the listings jumped to 25,000 listings. It was a tough thing for people to find homes in their price range, but since the prices are coming down people are buying more as the economy continues to grow. In some metropolitan areas, the real estate market shot up over 32%.
Though it is only a small amount of price difference of 2%, the average house sells for $295,000. The fastest selling homes on the market are condominiums and townhomes selling at a 7% higher rate.
Getting Ready to Buy
These are a few things to know before you buy a home as good advice. It is always best to get with a Realtor before buying to see what is out there. As a first time home buyer one should always look at the lenders in the pre-approval process.
There are many things in the underwriting process that can break a deal and hurt the consumer. Most of the time it is just a delay. This is the most asked question when the buyer is speaking with the lender, “How much is the interest?” The interest rate goes by the housing market and can fluctuate.
Some people think it’s best when buying at low-interest rates, which it is, but in most cases it’s best to go with a fixed rate and try to avoid balloon payments and other hidden costs. Balloon payments can really slap you in the face once receiving the final bill. Most people have to go out and take another loan just to pay it.
Getting Ready to Sell
Just like when you’re ready to purchase a home, one should get with a Realtor to sell a home as well. It’s always best to seek the professionals help so that you remain in the realm of legality. There are a lot of legal matters that you can save yourself a headache by hiring a local Realtor.
Let’s face it, these are awesome people that simply know what they’re doing. It is what they were trained for and specialize in. A Realtor will go through the process of setting up their clients who are interested in purchasing a home and advertising it to them right away.
Before, during, and after the closing, you should always keep in close contact with your Realtor. This will always ensure that you have taken the right steps both legally and personally. It will give you peace of mind knowing that, whether you are buying or selling a home, that all you have to do is follow the guidance of your Realtor & closing agent.
The best part about selling or buying is that when you close a deal with the help of an experienced Realtor, you can rest easy knowing your transaction was handled properly and professionally.