The year is just about half-way over, and several trends have made themselves known for real estate. In a market dominated by lots of demand and little supply, it can be tricky to navigate how to sell a home for what it is worth or how to budget to buy a home. Based on this article from House Method, here is a breakdown of the biggest takeaways for buyers and sellers so far in 2018:
Buyers:
- In a seller’s market, buyers should prep financial documents ahead of time and get preapproved to avoid missing out on opportunities
- Buyers should find a broker who knows the market and its trends to act as an advisor.
- Don’t prepare for offers below asking getting accepted, even if the property needs work.
- Work with a CPA to make sure you’re clear on what to expect with the new tax bill
Sellers:
- Price your property realistically, even though the market is in your favor. Fantasy pricing will mean your home will spend a long time on the market
- If you are looking to drive up pricing, the competition over houses could initiate a bidding war between interested buyers if you price your home at market.
- Work with a broker or realtor who focuses on presentation and consistently communicates feedback so you know how to put your home’s best foot forward.
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