As we step into spring, the housing market presents unique opportunities for both buyers and sellers. Despite challenges like low inventory and higher mortgage rates, there's a silver lining waiting to be seized.


Pricing Is Key For Sellers

For sellers, setting the right listing price is paramount. Research shows that homes attract the most attention when initially listed, so pricing competitively from the start can lead to multiple offers and optimal outcomes.

Selling Before Buying

Consider selling before buying to minimize risks and costs. Moving into a short-term rental after selling allows you to assess your budget accurately before purchasing your next home, avoiding potential pitfalls like high bridge loan interests.

Buyers Need To Come Prepared

Buyers should be prepared to act swiftly in the current market. Getting pre-approved and locking in a mortgage rate early shields against future rate hikes, ensuring you're ready to seize opportunities when they arise.

Consider Overlooked Homes

Don't overlook homes that have re-entered the market. A previous cancellation doesn't necessarily indicate issues with the property. With fewer flippers in the market due to high mortgage rates, buyers can explore fixer-uppers and add their personal touch to their new homes.

Don’t Delay

While mortgage rates are currently high, waiting for them to drop might not be the best strategy. Instead, capitalize on the present opportunities, as rates may fluctuate unpredictably.

 

Overall, the spring 2024 housing market offers promise for those who approach it strategically. With the guidance of knowledgeable agents and a proactive mindset, buyers and sellers alike can navigate the market with confidence and achieve their real estate goals.


Bottom Line

Whether you’re planning to buy your first home, or you’re ready to move into a different one to meet your changing needs, think about the emotional benefits that can turn a house into a happy home. When you are ready to make a move, connect with Stuecher Manning Group.

----------

Source: forbes.com