Thursday, January 1, 2015

Home Values Rising

Happy New Year!
I'd imagine that buying or selling a home (or both!) is going to be on many 2015 resolution/ goal lists. Such a big financial transaction and lifestyle change is something that should be planned out far in advance.  The latest report from the Columbus Board of Realtors suggests that we are in a "sustainable market" as home prices are steadily rising and  surpassing pre-recession levels.  

See the full report here:  Central Ohio Housing Report - November 2014

Questions to ask yourself as you consider whether buying or selling is right for you:

What should I do to prepare my home for sale?
Beyond the obvious things like tidying up, decluttering, and making the home presentable, I believe the most important thing is to sit down and make sure that you know where you are going next. I think that many people see the rising values and think that they can get money for their home, but then have no idea what they are going to look for next. Meet with a Realtor and come up with a full plan months in advance. Also, get advice for any upgrades that make the home more desirable at a cost that you'll get a good ROI.

When is the best time for me to list?
I believe that the "best time" is whenever you are ready. Whenever the home is prepared, your future is somewhat clear, and you feel comfortable with the process. Many folks think that the Spring is the best time to list because of the changing weather. I cannot say that this is either true or false, it all depends on your goals. Spring is a great time to list, but it's also a prime time to have a ton of competition in and around your area. Meet with Realtors and lenders a few months in advance so that you can make an educated decision.

With values up, should I wait to buy?
The best time to buy is the time at which you are ready to buy. When you have a stable job, a steady income, and are ready for the ups and downs of home ownership. Attempting to time the market isn't something that is going to be worth your time.  Buy when you are ready, buy smart, and make sure you l
ove the home you are buying, don't just buy to buy.

What should I do first?
If you are thinking of buying this year, it's time to be referred to a lender. If you know of a lender you want to use... great! I'd be happy to refer you to any lender that I've successfully closed transactions with. You can shop around for rates, but the most important factor should be whether or not the lender can get the deal closed. Don't just chase the best rate. Make sure you are comfortable with the people and company that you choose to work with.

There are several more questions that a buyer or seller may want to ask. If you have a question that is on your mind, feel free to email me anytime... I'd be happy to get you the best answer!

I hope that 2015 brings you happiness! If a real estate transaction is a part of the plan, I'd love the opportunity to serve as your Realtor.  Have a great year!

Take care,
Scott Morrison

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