TIPS FOR BUYING A HOME IN 2017……..
Tips: If you’re a seller now is the time!
When inventory’s low, it’s usually a great time to put your house on the market. Your new listing could cause buyers to pounce when there’s little competition, especially if your home is in a prime location. Research conducted by Trulia revealed that 2016 was the year of low inventory.
More jobs means more relocation buyers to our area!
There are plenty of reasons people need to get in a home fast. Many companies transfer employees at the start of a year, for one. Whatever the reason, buyers looking to purchase a home in the winter, probably need to buy sooner rather than later. And unless you’re in a hot climate, January and February are not the months most people want to be out hitting the streets to browse. Winter buyers often have a sense of urgency — when they find what they’re looking for, they’ll make an offer.
There’s constant movement with 1st time home buyers…….
If you’re a first time home-buyer and are currently saving in preparation to buy, you might have earmarked that tax refund coming to you for the purpose. When these potential buyers get a refund on their taxes, they’ll sometimes use that as a down payment to roll into a purchase. The sooner you turn in your tax return, the sooner you’ll get your refund, usually in fewer than 21 days.
Will a new administration change the market…….
Speculation and uncertainty abound whenever a new administration takes the helm. If you think the Trump administration will make it tougher for people to buy a home, you might want to sell early in the year. Some people worry that some of the reforms laid out in the Republican platform could potentially force buyers to fork over larger down payments. This could be a problem for many home sellers as the pool of eligible homebuyers could begin to shrink. Of course, speculation is just that. But if you believe this to be true, It makes sense to sell a home now.
Some think we will continue to see an increase in interest rates……..
Most people are concerned about rising interest rates this year. If homebuyers think rates will rise, they might buy sooner rather than later. The interest rates have been very low for a very long time. As they begin to tick up, you will start to see consumers’ buying power drop because of the cost to cover mortgage payments.
Contact Rick or Tracy Ellis at 636-299-3702 or 636-699-2197 if you’re thinking of buying or selling a home!
Tune in to The Rick and Tracy Ellis Show on 97.1 FM News Talk Saturdays at 4:00 PM & Sundays at 10:00 AM