Tuesday, January 28, 2020

Why Didn't My House Sell?

With the real estate market supposedly so strong, sellers may be surprised when their home doesn't sell in a day for asking price or better. First, the only thing that determines what a home sells for is the market. Agents and homeowners work together to come up with a starting price for the home by using "comparables"--homes of similar size, location, and condition and what the sold price was, not what the current price of a home that hasn't sold yet. How many days the home has been on the market is a good indicator as to how the home has been received by the market. The starting price is generally the main reason a home sells in a reasonable amount of time and the highest price. Other reasons homes don't sell include: not showing to it's potential or not convenient to show; lack of communication between the seller and the agent; contract length was too short; wrong marketing. Let us show you how we can make selling and buying property a smooth process!

231.590.8230
goliveupnorth@gmail.com
NorthPrimeRealEstate.com 

Tuesday, January 21, 2020

What to Expect with 2020 Real Estate Market



All indicators point to a similar real estate market that we saw in 2019. Multiple sources predict that with low unemployment and historically low mortgage rates, there remains a scarcity in housing, especially in the lower priced category. Homeowners are staying put longer and new housing isn't being built because of high cost of materials and shortage of skilled building trades labor. But with prices up so much over the past few years and lack of homes, 2020 is lining up to be another great time to list your home for sale. Realtor.com reports that it is expected that nationally, home prices will flatten out.

What does this mean to your personal situation?  While moving up means paying a higher price--potentially--for a comparable home replacement, mortgage rates remain remarkably low and your home SHOULD garner a good sales price and maybe good equity to put on the new home!  The problem as indicated earlier in this blog is that there aren't many homes for sale to look at to buy.

Contact me if you want to discuss your personal situation.  I can do a free market analysis on your home to see if you have the equity to make a move!

Brett Binkley
Associate Broker
O'Brien & Associates
128 Water St. Boyne City, MI
231.590.8230
goliveupnorth@gmail.com
NorthPrimeRealEstate.com