2019 is looking positive for those hoping to buy or sell this year! Overall, our industry is seeing more homes on the market than in the past years. This is great for everyone as we are moving towards a more balanced market. According to Cindy Emerine with Home Mortgage Alliance, Interest rates are still really good overall with 5% for FHA buyers and 4.625% for Conventional up to $561,250 with only 3% down. Jumbo Loans (Anything over $561,250) are 4.25% for a 30 year fixed or 3.75% for 7 year arm.
Detached Single Family Homes: Homes priced between $300-$500K will still be very competitive this year, especially those that have been updated or are in really good condition (expect multiple offers). For buyers above the $500K range, buyers are more savvy than ever and expect to see updates in line with property values, so if you are considering selling make sure you are priced correctly and or offer a lot of amenities and upgrades if you want a premium sales price.
Attached Single Family Homes (Condos/ Town Homes): This market is seeing a strong rise in inventory due to the construction defect law going away. More condominiums are being built and apartment buildings will soon be available as condos. That means this year is the time to sell before prices really start to decline because of additional supply. However, as with all great properties the better a home shows and more features offered will be favorable for buyers compared to others.
No matter if you are buying or selling this year, rest assured Ryan is the right choice to help you every step of the way.
For more information call Ryan today at 303-669-6582