Taking Advantage of the Spring Market?

We know that the springtime is the best time to sell and buy a home. But are you taking advantage of the spring market?

There are different factors that come into play with living in Minnesota. The weather is a big factor, along with the economy and life events. If you want to time the market correctly, here are four tips to consider when selling or purchasing a home.

Different Seasons

·      The spring market is the busiest time to sell and buy. The season is changing to spring with greener grass, blooming flowers, and warmer weather. People want to move into their house before summer and school start.

·      Although it’s good to take advantage of our spring market, it’s more important to have your home show in its best light and priced correctly.

Each Market and Neighborhood Vary

·      Price points sell differently. Upper bracket homes tend to stay on the market a little longer, while lower bracket homes sell faster and with multiple offers.

·      If you live in the cities versus the outskirts, there may be some differences when a property sells.

Interest Rates Have Lowered

·      When interest rates fluctuate, it can affect the consumers’ opinion of when to buy a home.

·      Interest rates have lowered in the last couple of years, making it a great time to purchase a home.

Location is everything

·      When selling or buying a home, people think about more than just the home itself. An important factor to take note on is to sell the neighborhood. Is your home close to parks, lakes, or restaurants? Do you have some privacy with trees and a fenced yard? When buying, look at other key factors that are important to you. Is your commute to work ten minutes or an hour?

·      Potential buyers will look at the overall picture when purchasing a home. Whether they want to live in the country, city, or suburbs, they will look at all of the aspects of the home buying process.

If you’re considering selling or buying this year, the spring market is a hot time in real estate. These four tips can help you decide on whether you’re ready to make that next step in your life.