Mortgage rates stopped their downward spiral two weeks ago, and it seems homebuyers are taking notice. For most Americans, however, that’s far from ideal. In fact, according to a new Bankrate study, Americans think 28 is the ideal age to purchase a first home. There are certainly benefits to buying a home at a younger age. Housing inventory is remaining low, partially with rising interest rates, buyers who are ready to make a purchase will still shop for homes. The Midwest has the highest rates of homeownership in the nation at 68.2%, followed by the South at 66.2% according to the U.S. Census Bureau.
The typical home seller in 2017 was 55 years of age, had a median household income of $98,800, and lived in their home for 9 years. 91% of sellers were assisted by a real estate agent when selling their home. Even with interest rates are on the rise people are still getting loans or refinancing their homes. 5.34 million existing homes were sold in 2018 but it seems that even more will be sold by the end of 2019. As of April 2019, there have been roughly 673,000 houses sold in the US this year, which is 12.4 percent more than last year at that time. Staging a house can make you money stats show when going to sell. On average for every $100 invested in staging, the potential return is $400. Painting the walls a plain color is an example of this.
Prior To Selling
Minimum improvements you might want to consider making before selling your home include patching holes and cracks in the walls and ceilings and fixing broken appliances and HVAC systems. Repair leaky faucets. Replace broken window glass and repair the roof if necessary. Change any dated light fixtures or ceiling fans.
You get a short-term loan to cover the down payment on your new home before selling your old one. You use the money to put a down payment on your new house, and then repay the loan when you sell your first home.
What makes certain homes sell faster than others?
- Find the Right Real Estate Agent.
- Curb Appeal — Make a Good First Impression.
- Make Sure Your Home is Move-In Condition.
- Stage Your Home Correctly.
- Effective Advertising.
- Offer Incentives.
- Price Your Home Right.
- Final Thoughts on Getting Your Home Sold Quickly.
This year, 2019 is a great time to sell your house and buy a new one. Even with mortgage rates being high the value of the houses are also appreciating so owning one will increase your net value. If you are selling your house, please let us know how we can be of assistance. We know the market well and are up to date with our statistics. Call us today @ 806.322.5300 to see just how we can help you!