It's that time of the year again. So that I can continue to pay the freight for my 19 year old's stay at Ball State, plans must be made. Plans that will require vision and could affect all of you who may be considering moving this year as well. In 2013 we had a late Spring that saw multiple offers, homes selling in one day on the market, prices and values escalating and in general much better times. So where will 2014 take us? Some simple predictions; a) At least through mid year mortgage rages will remain below 5% which will accelerate the market. b) Home builders will have a better year due to pent up demand and their ability to get more product to market. c) New home construction will bring more resale product into the market which will help dim the supply problem. d) Homes that are really ready for the market will still sell and sell quickly. Dated homes that are not ready will sit. e) The high end will be sporadic and will remain as the most challenged part of our market.
So what's the lesson as we sit here in mid January? Be ready. If you're selling get your home TRULY ready and be proactive from day 1 on the market. As you are a buyer, get educated quickly because you will be required to move fast once you find 'the one.' As we get past mid June the market will change and you must be ready to change with it. We'll be past peak demand and you'll have to be a more aggressive seller.
It will be a good year to buy or sell a home and given the 2008-2011/12 time frame it feels awfully good to say that. To be successful you'll need a great advocate, you'll need to listen carefully and act quickly. Anything less will mean a LOT of stress and a bad outcome. Don't just stick your toe in the water. Get in all the way and get that shock of the cold water behind you to the point you enjoy it.
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