Buying Tips

As many Americans look ahead to 2023, buying a new home may be one of their goals. According to experts, the residential real estate market is expected to be less competitive next year than it was in 2022, due to the soaring prices of homes and mortgages that will keep many potential buyers on the sidelines.

If you're planning to buy a home in 2023, here are some steps you can take now:

•  Improve your credit score: Boosting your credit score can help you get the best possible interest rate on your home loan. The average credit score for a first-time homebuyer is 746, while the average score for all homebuyers is 754. A "good" credit scoring range is around 670-739. Improving your credit score to "excellent" (800 and up) can put you in a better position to be approved for mortgages with better interest rates, potentially saving you tens of thousands of dollars over time.

 

• Use online tools: Take advantage of online tools to make your home search easier. You can take 3D virtual tours of properties and use online mortgage calculators to estimate the price of a home you can afford. Signing up for email alerts from websites like Redfin or Zillow can help you know immediately when new homes within your price range hit the market.

 

• Search for the right agent and lender: Start contacting potential real estate agents and mortgage lenders early in the year. The goal is to have a loan pre-approval letter and an agent in place by spring. January is a good time to find an agent to discuss what type of home you want.

 

• Act quickly: If you find a property you like, don't hesitate to place an offer on it immediately. The housing market may be cooling down, but it's still competitive. Waiting for the price of a home to drop or mortgage rates to fall can increase the probability that another buyer will find the same house and put in an offer.

By taking these steps, you can position yourself for success in the 2023 real estate market.

Selling Tips

 

Selling a property can require effort, but it doesn't need to be more difficult than necessary. By being wise with your time and effort, you can pave the way for a sale that meets your objectives. Below are some tips for house sellers:

 

1. Prepare Your House for Sale To receive the best price, make sure your house is in its best form for potential buyers. Clear out your area and depersonalize it, keep paint colors and wall design neutral, make sure your house smells good, light it up, and get a staging service. Moreover, have a house inspection done and fix visible issues, but avoid going for a kitchen or bathroom renovation if you are selling your house.
2. Find the Right Real Estate Agent A skilled real estate agent is knowledgeable about the particular qualities of different communities, frequently networks with other real estate agents to find appropriate buyers, understands the complexities of purchase agreements, and knows how to keep track of all the moving components that go into selling your house.
3. Set the Right Price for Your House Set a reasonable price for your house because it informs buyers more than you may think. Overpricing your house may cause buyers not to look at it, while pricing it too low may make buyers think there's something wrong with it.
4. Use all the Available Mediums Real estate agents with a strong grasp of their marketing use social media to supplement their Real Estate marketing efforts, which may see an uptick in viewing activity.
5. Consider Professional Cleaning Hiring a professional cleaning service is the easiest way to ensure your property is clean and looks its best. Make sure your bathroom and kitchen are immaculate, and consider getting your carpets and rugs cleaned professionally if necessary.
6. Tidy Up Your Kitchen Since many house buyers are particularly interested in kitchens, make sure your kitchen is relatively clean and appealing.
7. Conceal Your Pets Some individuals do not like pets, which may put them off your property. Take your pets to a secure and comfortable location, and avoid leaving traces of your pet, especially their scents.

By following these tips, you may sell your property faster, at a better price, and meet your objectives.

   

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