Real Estate Market Outlook for 2018

Real Estate Market Outlook for 2018

The market remained HOT through December!  Inventory was lower in 2017 than it was in 2016. So what will 2018 bring?  Experts are projecting historically low interest rates to rise to around 4.5% combined with slow and steady gains in house values.  
Everyone is asking what trends are we seeing locally?  Well of course there is a shortage of houses for sale.  But what about those houses in your neighborhood that have been for sale for months?   Homes that remain on the market for months typically are overpriced and/or in poor condition.  Homes that are well maintained and priced at market value are selling! 
There are 3 things that determine the value of a house in buyers eyes.  You heard location, location, location.  Location is one of them but not everything.  You can’t control location.  Then you have price and condition.  These are going to be two factors you have control over that buyers look at.  If a home is $10,000 overpriced and needs some updating, buyers will walk away.  A home needs to be positioned correctly to sell.  The buyers out there are pouncing on homes instantly that come on the market that are well maintained and priced appropriately.  So condition as well as price helps sell houses. It is finding the happy medium between the two to help get your home sold faster.  
The Swain Team would rather our clients be in a position to list it at the right price to generate demand and offers to come in on the home and even create a bidding war and turn people away vs. starting too high and not get any offers at all.  
Our goal is to put the most money back in our clients pockets as possible because what matters most to us is building a relationship with you so that you feel comfortable and confident referring The Swain Team when you come across other people that are thinking about buying or selling.  We know it is in our best interest to do what is in your best interest. 
Happy New Year!

Real Estate Market Outlook for 2018