20 Jan When does spring real estate market start and what will it bring?
When does spring real estate market start and what will it bring?
Many buyers wonder when sellers will put putting more homes on the market and the spring season starts. This year like all others our spring season starts the week after Super Bowl Sunday…so the first week in February.
What will this spring be like?
This spring will be like last year with a smaller than needed inventory of homes for sale, interest rates on the decrease and more buyers than sellers. These factors will lead to multiple offers and short on the market times for homes that show well and are priced appropriately.
How can I prepare for this market?
You can start to prepare for this crazy spring market by getting pre-approved from a lender who offers great interest rates for mortgages and superior customer service. If you need suggestions, I can provide you with the names of people who I have had good experiences with. Next, become familiar with the process of purchasing so you are ready to jump on a home that speaks to you. I suggest listening to your real estate agent to get an offer strategy to you have a greater chance of being the buyer who gets the home. Preparation is critical to have the outcome you want.
Lastly, try not to just settle on a home. But on the other side of the home if the home has the location and bones, you need then with improvements it could be your dream home. Remodeling the kitchen and baths normally gives you a new home value of double your investment, so do not be afraid to make changes yourself. It is important to look past décor, color of walls and how clean a home is…those are things you can easily change.
What will the year bring for values?
My crystal ball tells me we will have a jump in prices this spring of 3-5 percent and 5-10 percent for the year. It is a great time to own a home!
Look for more articles in the future on the state of Minnesota Real Estate. Let Jeff’s over 30 years of real estate make a difference for you!
Jeff Anderson
The Anderson Team
RE/MAX RESULTS
612-386-8600
www.mnrealestate.com
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