After flatlining during the economic downturn that began around 2008, housing markets in many regions of the United States and Canada have shown signs of recovery. Those in the market to buy and sell may find this year presents an ideal opportunity to do just that.
Buyers will need to be prepared to purchase inventory right away, while sellers will need to price their homes right for the best chance of sale. The following are some guidelines.
Having a plan is essential when buying a home, as such a purchase is not something buyers should take lightly. Establishing a budget is the first step. This means taking inventory of savings, expenses and borrowing power. It is adviseable to sit down with a lender and do a run-through of what you can afford.
It also is important to hire a buyer’s agent. Such professionals send buyers listings that fit their home-search parameters, which saves buyers a lot of time and effort.
Sellers competing for business in a thriving housing market also have to do their share of work. Today’s buyers are much more conservative, and homes will have to be presented in the best light and listed at reasonable prices.
Sellers also can benefit from working with real estate agents, as it can be quite difficult and stressful for homeowners to sell their homes on their own. Agents have access to multiple listing databases and industry contacts, information that is quite valuable when selling a home. Agent will do their own assessments of a home to help sellers price the home accordingly based on market conditions.