The Real Estate Market Changed Again-What You Need to Know!
Just about on a weekly basis the real estate market changes! What do I mean by that? There are so many factors that go in the real estate market and your current home value. Two of the biggest factors are the health of the economy and interest rates, but other factors include seasons, neighbors, and the home itself.
Since we live in Michigan, there is a 4-season climate that impacts value as well. Our sales numbers show most of the records sales between April and September. This is when we have the nicest weather and moving is easier and more enjoyable. Another factor is the value of your neighbors’ homes. For example, if your neighbor lists and sells their home at $450,000, and it is identical to yours two blocks over, you are now worth approximately $450,000. This is some times good or bad depending on if you thought your home was worth less like $400,000, or more like $500,000.
More examples of small things that can effect your value: updates and additions can change your value too. Back to the two identical houses, both of your homes could be worth $450,000 on paper, but you did updates to the kitchen, bathrooms, flooring, furnace, and water heater. Your home with the updates might be worth $500,000, and your identical neighbor may only be worth $450,000 with no updates.
So we’ve determined that if you can time the interest rates, stock market, politics, local weather, your neighbors sale price, your home updates, you can control the market!!!! Awesome! Oh wait, market value is what someone is willing to pay. So not only do you need interest rates, stock market, politics, local weather, your neighbors sale price, your home updates in your favor, but it is up to a stranger to agree with your market value price. So how are you going to figure all that out? How are you going to pick the best timing and best list price? You are going to want to consult with a professional real estate agent/team you can trust who lives, eats, breathes market conditions and will give you sound advice. If you are reading this blog, you are in the right place! Myself and my team have over 25 years of real estate experience, knowledge, and expertise to help you win no matter what is going on in the market. Get a fast, free home value report from us or contact me for a free consultation walkthrough of your home.
