Americans See Housing Market ‘Cooling’ but Becoming More Balanced
Seventy-five percent of Americans believe their local housing market is “cooling off” following five consecutive quarters where most viewed it as “overheated,” according to the results of ValueInsured’s Q4 2018 Modern Homebuyer Survey.
Around the Other States
In those states where homes are selling at a rapid-fire pace, 22 percent of residents in California, 19 percent in Colorado, 36 percent in Texas and 22 percent in Washington say their local market is not cooling; so keep in mind, the market may not be cooling in your particular area. As the saying goes, all real estate really is local.
The fluctuations in market activity are most likely the reason why the ValueInsured Housing Confidence Index ticked down slightly, registering at 63 on a 100-point scale for all Americans in Q4, down 4.7 points in one year. Homeowners, historically the most confident segment on the Index, produced a score of 71.6 in Q4, the second-lowest level recorded in 30 months.
These indexes, however, are still bullish overall when it comes to homeownership.
As the market levels off and shifts a bit more to the buyer’s advantage, keep these tips in mind if you’re putting your home on the market:
- Work with an experienced real estate agent who is skilled in local market knowledge, negotiating and marketing.
- Make sure your home is exposed to the widest audience of prospective buyers online.
- Ask your agent which listing sites they’re affiliated with and how your listing will be distributed.
- Get creative with the presentation of your home, using videos, virtual tours, drone footage, social media, and more.
- Bring in a professional home stager to make sure your home is shown in its best possible light. What you think looks good might not be the case with the general public.
- Most importantly, follow your agent’s advice on how to price your home. In a buyer’s market, choosing a price that’s neither too high nor too low is essential to moving your home as quickly as possible at maximum profit.
Reprinted with permission from RISMedia. ©2018. All rights reserved.
*Up or Down market is not relevant when you are buying and staying for the long run. Real Estate is not a fast in and type of investment. Some may be able to speculate successfully. Some others like me may not. I keep what i buy for as long as i’m able to. For more information buying or selling a home or condo in Fort Lauderdale call Marina Sarabia at 954-914-8056.