Buyers Questions +
Across the Mid-Atlantic, pending sales and showing activity both increased in January compared to December. Buyers who had been on the sidelines are showing eagerness to return to the market as rates dropped to their lowest levels since September. - BrightMLS
"If you can't find a house that meets your financial expectations for a monthly payment and it is a good time for you to buy, then do that..." - Odeta Kush, Deputy Chief Economist, First American
"The upcoming months should see a return of buyers, as mortgage rates appear to have already peaked and have been coming down since mid-November."
"...A strong job market will bring homebuyers back to the table."
-Lawrence Yun, Chief Economist of the National Association of Realtors
2. Get Pre-Approved for a mortgage. - If you are planning to finance your purchase, you will want to speak to a lender who will look at your finances to determine what financing options are available to you.
3. Keep an eye on the market. - Set up listing alerts within your price range.
Sellers Questions +
"For homeowners deciding whether to make a move this year, remember that listing prices - while lower than a few months ago - remains higher than in prior years, so you're still likely to find opportunities to cash in on record-high levels of equity, particularly if you've owned your home for a longer period of time." - Danielle Hale, Chief Economist, realtor.com
You may have more equity in your home than you realize.
Millennials (28-38 years old) are the largest generation and are in their prime buying years. They are driving buyer demand.
"The upcoming months should see a return of buyers, as mortgage rates appear to have already peaked and have been coming down since mid-November." - Lawrence Yun, Chief Economist for the National Association of Realtors
1. Clean and declutter your home and remove personal items. Neutralize the space.
2. Add fresh paint and shampoo carpeting where needed.
3. Clean out closets and garage.
4. Tidy up landscaping. Focus on curb appeal.
5. Make any major and/or minor repairs that could affect the home's value.
6. Consider getting a pre-listing Home Inspection.
7. Consider hiring a stager.