It is not the end of winter yet, but some home sellers are getting ready for the coming of spring. This season of growth is also being mirrored in the real estate industry.
As reported by Indianapolis Monthly, "spring kicks off what's expected to be a mostly sunny 2016 real-estate season." This was because spring 2015 had an increase sales by 8% with 5-6% median sale price each month.
According to the forecast of National Association of Realtors, there will be a small increases in existing-home sales. Thus, everyone could expect that the study growth of the real estate market for the last 2 years will still continue in 2016.
It is also noted that local sellers, particularly in Indianapolis, will have better sales this year. Despite the stock being down for 4 months now, "Indy aims for six or seven months of inventory."
So how would you prepare for the spring real estate trend? Credit.com says that as spring approaches, home buyers need to prepare and take advantage of the low interest rate.
Report says that "interest rates remain surprisingly flat and more homes are expected to hit the market as Spring approaches." So why not tackle your credit as early as now? Take time to improve your credit score.
Another thing that one must do before spring comes is to explore your options before finalizing your decision to buy the real estate property that you want. The key here is to educate yourself from major mortgage types. Not knowing anything might lead to you bad loans or even missing out the opportunity to acquire the property that you really want.
A homebuyer also needs to have a pre-approved loan. It is wise for someone to shop for a house that he or she can afford.
The last thing that is crucial to prepare before you take the plunge into the spring real estate trend is to know your market. "Bidding wars are breaking out in communities where housing inventory struggles to keep pace with demand." This means negotiating "with a strong offer can help you compete in hotter real estate market."
