The real estate market has been steadily improving over the last few months, which leads many to believe that demand is finally about to catch up with supply.¬† Another positive sign that the market is improving is that there are fewer distressed properties on the market.¬† Experts in the real estate market are predicting a 5% rise in median home values through 2013.
This positive news has led many potential buyers and sellers to begin looking seriously at buying or selling a home in 2013.¬† If you have been waiting for the market to improve and become steadier, that time has arrived.¬† There are some major changes that have taken place since the real estate crisis hit.¬† Buyers are expected to put down larger down payments and it may be more difficult for them to be approved for a loan.
As a seller entering 2013 optimistic that the time has finally arrived to sell their home; there are some steps you should take to protect your interests when selling your home.¬† When selling your home you should ensure that prospective buyers have been preapproved.¬† This means that they have already been thoroughly checked out by prospective lenders and found to be an acceptable risk.¬† To further weed out any potential buyers who may not be as qualified to purchase your home as others, you may want to have your real estate agent contact their loan officer to ensure that they have the money to back up their offer.
If you are going to be listing your home this year, you should keep in mind that images are important.¬† Many prospective home buyers will most likely begin their home search by browsing home online.¬† In order for you home to be properly viewed and in the best light possible, it is important that you take the time to have your home properly photographed.¬† To show off your home in the best way possible, you may want to consider hiring a professional photographer.¬† They will know how to and when to take photos of your home.¬† You would be surprised how different your home can look at different times throughout the day.
Buyers looking to purchase a home this year should carefully evaluate their current financial situation.¬† This will help ensure that in addition to being emotionally ready to purchase a home, they are also financially secure enough to handle the burden of a monthly mortgage payment.¬† Buyers should begin by obtaining a free copy of their credit report.¬† This will alert them to any outstanding debts they may have forgotten about and they will have the opportunity to resolve any mistakes that may have been reported.
2013 is looking like it is going to be a great year for both buyers and sellers.¬† If you take note of the tips that we have provided above, the process should go much smoother for you no matter what side you are on.