Each state has a different new home buyer homeownership rate, ranging from a low of 47.8% in Louisiana to a high of 69.3% in the District of Columbia. This also means housing markets and real estate values can be vastly different throughout the country.
In this blog we will divide some insights into residential buying and selling trends to help you know about the property market condition in the US.
We all know that one of the realities of buying and selling a home in a changing market is that you have to try to anticipate when it’s a good time to sell or buy your home and what the best price to list your home could be.
Current Market Analysis
The states in which you might not be able to find robust demand, inventory, prices, or growth potential are New Mexico, Kansas, West Virginia, Iowa, Montana, Arkansas, Louisiana and Maine.
Others that might be seeing more varied demand, inventory, and/or have higher values are Illinois, Minnesota, Wisconsin, Michigan, Delaware, Connecticut, and Florida.
Texas, California, Washington, and Virginia are getting on track and can offer competitive advantages in terms of businesses and quality of life.
Here’s some advice for you if you’re buying a house in the U.S:
Although you might not know it, there’s a lot going on with the property market and, now that you know where to find the opportunities, you’ll have a leg up over those who are less informed.
You might think you know if now is a good time to sell or buy a home, but if it’s not then don’t sell in a bad market and don’t buy in one, either.
There’s almost always a better time- and it’s tempting to go strictly on gut-feelings but always back it up with some sort of information.
Talk to home sellers that are around you, what’s the market?
Talk to a real estate agent, what are they doing right now and what are they advising sellers to do?
Talk to a lender, find out what they can offer your family.
Talk to an attorney, find out how to make sure your contracts are solid and protect you on the way out.
Talk to an accountant, find out how much this investment is going to cost you over the long-term and talk to them about investing the proceeds in a 529 education fund after selling.
Talk to another buyer, find out how serious they are about making an offer on your home and know your other options.
What do you need to do to make this happen?
Start the process of emptying your home of personal belongings.
Find an web-designer to create a professional website.
Speak to an agent about how they can market for sale your home.
Give the agent your place a thorough looking over and be as detailed as you can.
Be patient, remember you’re unlikely to have instant offers from the first person that looks at your house.
This might seem like a lot, but like anything, it’s easier to strategize about what to do before it needs to happen. After you find your home and have your offer accepted, it might seem like a long time before your home is actually yours- and in that time, affordability is bound to become even more elusive.
Bringing in a professional to experience the process with can be the best or worst decision you can make- it all depends on their service and what they can offer you through it.
Who should you hire? Consider partnering with a company that understands you, your family, and the unique needs you’ll have during this process.
For example, that.
The deadline for first-time home buyers to enjoy a tax benefit as they climb onto the property ladder in the UK
The deadline for first-time home buyers to enjoy a tax benefit as they climb onto the property ladder in the UK is fast approaching. Single-person first-timers who buy before the 4 April deadline will be exempt from Stamp Duty Land Tax (SDLT) on homes worth up to £300,000.
What first-time buyers need to do to make the deadline
While this is an incredible offer to take advantage of, first-time buyers must start researching the best opportunities in their area. Experts warn this deadline is to be used as a marker, not the day first-time buyers actively start looking for their dream property.
For example, buyers that are in a rush to buy a property before the deadline
To speed up the process, first-time buyers can consider partnering with an estate agent who works with self-storage and show homes at short notice.
Otherwise, they would have to wait for a property to come onto the market before