These winter days are so cold it seems they will never end, but soon enough things will begin to warm up and turn green.
That brings us into the busiest time of the year for real estate. Whether you are a buyer or seller, now is the time to prepare if you plan on a move this spring or summer. Let’s look at both sides and what we can do now to be prepared.
If you’re a seller, now is the time to take a close look at what you have to sell. Make time to do the repairs that have been put off — fix the leaky sink, repair the cracked window and, in some cases, even major repairs like replacing a roof. If a house sells unrepaired, the
buyers will expect a discount and have a harder time getting financed.
Home de-clutter is a key aspect when selling. Pack up extra items not used and move them to garage or basement. Carpet and paint should be in good shape. If getting new carpet isn’t in the budget and it’s dirty, at least have it cleaned. Give your home the white glove test for a great first impression. It may take a bit of your time, but it’s inexpensive and well worth it.
Consider contacting a real estate agent for a market analysis. This will give you a good idea of what to expect for the sale price. Every market is different, and we aren’t L.A. or New York. Locally the market has improved, and bank-owned properties have slowed along with other various scenarios, so it is important to position your home correctly in the market.
As a buyer, the best thing you can do is get to the bank and get pre-qualified. Things have changed, and if your credit score is less than, 620 it will be tough to get financed. A qualified banker can give you some advice on steps to take to raise your credit score.
The Dodd Frank Bill went into effect in January. This will tighten lending practices even more and more than likely cause interest rates to rise an estimation of more than 5 percent by the end of the year. So get in to speak to your real estate agent today to get the lowest rate possible and let him or her know about your dream home so you don’t miss out.
Before you know it, the bike trails will be full, the parks will be bustling with kids and families, the ball fields will be manicured, and fishing with the kids will be a priority. Hopefully you have done your homework, and this spring you will be moving into that dream house you told us about.
Information provided by Larry Saemisch, Agent, RE/MAX Pros on Main, 1207 Second, Perry, 515-465-5000, firstname.lastname@example.org.