Real Estate Market

Featured Listing

Featured Listing

For Sale: $749,000

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Market Trends

How to Buy a Home in Any Market

Every day it seems that something happens to affect the real estate market. Mortgage interest rates are currently low, but they are on the rise. Home prices are going up in many areas. Inventories of homes for sale are low, so available properties are scarce.

Consumers may not know how to buy a home under today’s conditions. Fortunately, best practices don’t change. Whether it’s a buyer’s market, seller’s market, or something in between, these tips will help you buy a home in any market.

  • Don’t to get too emotional about the process of buying a home. It’s easy to lose your cool if the property you love is sold before you get a chance to look at it, or if someone outbids you for your dream house. Remember that there are always more properties out there, and that you will find one that is right for you.
  • Don’t try to time the market. Purchasing a home is a long-term investment. You are going to live in this house for several years. Don’t rush to buy because you think prices are going up, or put off buying because you think prices are falling.
  • Do make your best offer. A lowball offer on a property simply wastes the seller’s time, and your own. If you are serious about buying the house, put your best foot forward and make an offer that reflects the value of the home and the neighborhood.
  • Do work with a good Realtor®. A knowledgeable real estate professional can help you get a good house at a fair price, instead of overpaying for a home you don’t like, or not finding a property at all. Your Realtor® knows the market and can help you find the best options in your price range. They’ll also help you structure your offer to make it attractive to the seller.

In this real estate market, home buyers could use a helping hand. Contact me today for an appointment to discuss the property you’re looking for. I can guide you through the buying process and help you end up with your dream home.

Photo courtesy Michelle Meiklejohn, FreeDigitalPhotos.net.

How to Price Your Home to Sell

One of the biggest worries about selling your home is wondering if you priced it right. How do you know what to ask for your home so you can get a fair price and sell it quickly? Here are some tips on pricing your home to sell.

Look at the comps, which are the similar homes in your neighborhood that have sold recently. This will give you an idea where to start pricing. You can also visit any houses that are currently for sale, to see how they compare to yours.

Don’t rely strictly on square footage when you look at comps. You need to know details about how the home is laid out, what features are inside, and any upgrades to get an accurate idea of price.

In most cases, whoever who buys your home is going to have a mortgage. That means that your home’s appraised value must be at least the sales price. Keep this in mind when you are setting your price, so you don’t price your home too high. If the appraisal comes in lower than the sales price, the buyer won’t be able to get a loan for that amount.

Your emotions need to stay out of the pricing process. The price of your home shouldn’t include how much you paid for the house, how much you enjoyed living there, or the fact that your kids grew up there. You’ll need to base your price strictly on what your house is worth today in your neighborhood.

Don’t overprice your home. Unless you are in a really hot market with very low inventory, you will just end up lowering the price on your house, which will send a signal to buyers that it was overpriced. Likewise, pricing your home under market value to encourage multiple bids can backfire, if there is a lot of inventory or homes are not selling fast in your area.

The most important step in pricing your home is to talk to your Realtor®. A qualified real estate professional knows what’s going on in your neighborhood and can advise you on the best pricing strategy for your home.

Are you ready to sell your home? If so, contact me today. I’ll give you a market analysis to determine the value your home, so you can be sure to price it right for the local market.

Photo courtesy ponsulak, FreeDigitalPhotos.net.


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Contact Information

Photo of Lezlie Roark Real Estate
Lezlie Roark
Truman & Company Real Estate
1205 Truman Ave
Key West FL 33040
(305)394-4130

lezlie@lezlieroark.com