Florida Real Estate Will Begin to Show Value in 2014
A new year is coming and this means a whole new real estate market. Price gains next year are to be expected only half as strong as this year. This upcoming market will be a sellers’ market especially with inventory improving. Real estate investors are expected to be less of a factor and the buyers can take advantage of this.
So why is the outlook so bright for the 2014 housing market? There are fewer unkempt and distressed homes. With the home quality improving, buyers will have plenty to choose from when looking for their dream home. Another great thing is that qualifying for a loan is simpler when purchasing a home. Closings are getting faster and faster where the norm was 45 days, express closings can happen in 20 days or less.
Multiple bidding is becoming popular and with these bidding wars comes great prices. Owners have flexibility when it comes to selling their home. They are not in a rush and rising home equity makes is easier to borrow against your property. How does this help? Home owners are able to spend for overdue maintenance or renovations for your home which will eventually add value when it comes time to put on the market. Instead of selling, people are looking to remodeling because in the end, these are the homes that attract the buyers. Another is that equity rates are low on homes.
The market is all about timing and housing market trends. Keep a close eye on what is going on with the market and look at monthly reports listings compared to closings. Take what is reasonable with your listing price. If a buyer’s appraisal comes in lower than what was said, you will have to lower the price (simple as that). Make sure to show the appraiser all the upgrades in the home and when they were completed. Remember to stay positive and firm on your beliefs when selling your home. Your real estate agent will know what path is the right on to take.
This blog was written based on article in Money Magazine.
