Real Estate terms can be a bit complicated and confusing. Here, we break down some of these terms and what exactly they mean.Appraisal: An estimation of a home's market value by a licensed
Why Now Is The Time To Buy And Sell Real Estate
WHY NOW IS THE TIME TO BUY AND SELL REAL ESTATE
The real estate market is really heating up and statics show that NOW is the time to buy and sell. Whether your family is expanding, you just landed your dream job, or you’re no longer happy with your current neighborhood, consider getting an early jump on the market before competition gets tough. Here’s why:
The Myth About Waiting to Buy or Sell in the Spring
Waiting until Spring means there will be more competition; more people list in the spring. Trends show that April is the prime selling time in Redmond, Oregon. With the average time on the market being 90-115 days, listing your home now will put you ahead of the pack and in front of serious buyers, getting you a better price because the inventory is lower now than it will be if you wait until after April.
Interest Rates Are Going Up
Prices are the Lowest They’re Going to be
Urban sprawl is happening, even right here in Central Oregon. Demand is high for real estate in Redmond, Oregon due to its proximity to the Bend. However, Bend can no longer build out, so they’re building up, thus driving up the price of real estate there. People moving out of the city are looking for more affordable housing options and Redmond has become an in-demand location to live. This demand is driving our real estate prices up so reasonably priced homes are not staying on the market very long. Homes are staying on the market 6.5% fewer days compared to the same time last year.
How drastically are home prices rising? Realtor.com data suggest a 3.2% increase year over year, after finishing 2017 with a 5.5% year-over-year increase. However, Redmond, Oregon is well above this average at 13.6% increase in sale prices compared to this time last year.
FSBO May Not Be Your Best Option
Only 8% of homes sold last year were "For Sale By Owner".
Hiring a real estate agent to do the hard work for you will pay off in the end and keep your stress levels at bay. They will have your home professionally photographed to show off your home to its greatest potential. Real estate agents have built relationships with other local real estate agents who are familiar with the properties listed in the area and have qualified buyers who ready to purchase.
Today’s buyers are tech savvy and well educated on the home they are looking for. As a seller today, your real estate agent has the advantage of a plethora of online marketing tools at their fingertips to get your home in front buyers who are actively looking so that you can get the best possible price for your home.
Whether you’re looking to buy or sell, Trout Realty’s team of experts will be there to guide you through the entire process and help make your experience as smooth as possible.
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As a real estate professional, giving homeowners the tools they need to ensure the care and safekeeping of their property is a top priority. That’s why I’ve put together a checklist to help