Indeed, 2020 has been one challenging year; we all would remember in the times to come. There is so much happening around, and most of us looking for property for sale or purchase might be wondering if the turmoil would adversely impact the real estate sector. Contrary to the claims you might come across, the median home rates are going up and higher. What raises the curiosity is the fact whether the rest of 2020 would bring similar results or not. Read along to know more about the housing shakeup in the present-day economic situation. It’s always a good idea to keep updated with the trends in the real estate sector, whether you are buying a home or have put properties for sale in 2020.
DON’T WORRY, HOME PRICES STILL SEE AN UPWARD TREND
Here’s a fact about home pricing trends this year. Around April, the prices saw a very tiny growth of merely 0.6% as compared to last year. This slower growth rate was mainly due to the prevalence of uncertainty in times of the Coronavirus pandemic. The confusion, however, dissolved a bit as we proceeded towards May. Week 3 saw a noticeable improvement of 3%, quite similar to what was in the pre-COVID era. This was a significantly positive change that proves things might be on the right track and, in fact, gaining momentum over time.
PROPERTY FOR SALE? GOOD TIMES ARE COMING BACK
As they say, every cloud has a silver lining; a nice profit may be on the way soon for the sellers. But keep in mind, when putting up a property for sale, it’s vital to assess the competitive scene as well. With most buyers being priced out of the market nowadays, this might lead to lesser offers for your home. Best you can do is make the most of this situation by taking a firm grip on the knowhows and standing tall amidst the competition. Get your home ready for buyers and try to associate with a renowned real estate agent like Eddie, who can help you put up your properties for sale at the right price. And, of course, patience is a virtue. Wait for the right offer to settle in, do not rush. Slow and steady always wins the race, opt for offers that give you the maximum profit. Always follow this: Less desperate you are, the upper hand you get while doing negotiations.
BUYERS, TAKE IT SLOW!
We know you may be eager to invest in your dream home, and you may be actively researching advertisements on the property for sale. However, it is absolutely mandatory to ascertain your real budget, carefully assess how much you can really afford. Crunch the numbers wisely, always consult a reputed real estate agent, use mortgage calculators, and plan monthly payments as per the budget you can afford. And of course, always stay within your budgetary limits at all times. Be proactive, take a wise decision with the help of a renowned real estate agent like Eddie.
Here’s something you could try: Save more: Stay motivated, you could easily save a five-figure amount for the payments on your dream investment. Isolate your wants from your needs: As the wise would often go with, give up some “nice-to-haves” for your “must-haves.” This will help make your new home more affordable for you. You can do this by maybe purchasing the least expensive property for sale in the best neighborhood around. As your savings increase over time, you can always upgrade in the times to come.
Working with a popular real estate agent like Eddie can do wonders since the agent really knows the best way to find you a home that matches your requirements. Buying a home is a very stressful experience, let Eddie streamline things for you and help you make your dream home officially yours. Get in touch today! You can always take advantage of getting along with a professional real estate agent as you search for properties for sale. Get in touch with experts now and plan your financial goals.