Some weeks there seem to be several buyers for every house listed for
sale, and then there are times when houses seem to remain on the market
for months with no real activity. You also hear stories about sellers who got
sale prices that exceeded their asking price. You may ask "what is going on
here"?
Many variables can affect the real estate market; it can go from a seller's to
a buyer's market, and back again in a very short time. In a normal market,
price and interest rate are the two most important factors. When interest
rates are low, prices may edge up as buyers' purchasing power increases.
As the interest rates go up, monthly mortgage payments are increased, and
this may temporarily eliminate some buyers from the marketplace. In the
shift toward a buyers' market, homes will sell if they are in a good location
and priced well. It is also important to have the home looking it's best to
out class the competition.
sale, and then there are times when houses seem to remain on the market
for months with no real activity. You also hear stories about sellers who got
sale prices that exceeded their asking price. You may ask "what is going on
here"?
Many variables can affect the real estate market; it can go from a seller's to
a buyer's market, and back again in a very short time. In a normal market,
price and interest rate are the two most important factors. When interest
rates are low, prices may edge up as buyers' purchasing power increases.
As the interest rates go up, monthly mortgage payments are increased, and
this may temporarily eliminate some buyers from the marketplace. In the
shift toward a buyers' market, homes will sell if they are in a good location
and priced well. It is also important to have the home looking it's best to
out class the competition.
Parrot Realty Inc.
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INFO FOR BUYERS / SELLERS
The little things both positive and negative can make a big difference to
prospective buyers who are interested in your home. Before you list your
home, go through with a careful eye.
- Fix any lose doorknobs, popped screens and lose grout around the
tub and shower. - A fresh coat of paint works wonders in dressing up a house.
- Wash the windows and clean out the closets.
- Put extra furniture into storage and arrange the rooms to make them
look larger.
asking price.
