Top 5 real estate tips for 2017

The season is upon us. No, we’re not talking about blooming flowers or buzzing bees and all those other great things that come with spring. For those of us in the real estate business, the warm air and green lawns mean one thing: It’s time to buy and sell homes!  

From the looks of it, 2017 will be another great year. For sellers, the demand is high; for buyers, interest rates are still low. Whether you’re planning to move into your first home or are looking to get into the game of real estate investing, these are the five tips you need to know if you plan to jump into the market.

 

 

  1. Start with a starter. Most people don’t move into their dream home right away. It’s rare for a couple to be at that point in their career or have the financial means necessary to purchase the home of their dreams right off the bat. Rather, look for a home with promise, something you can put some work into and build the equity that leads to that dream house.
  2. Work with an agent. Even if it’s a seller’s market, don’t take it for granted. While it may be tempting to try to make more money by selling the home on your own via a real estate website, not working with an agent who can connect you with a pool of buyers could cost you thousands of dollars.
  3. Rent no more! All over the country, rental rates are rising, sometimes even more than home values. If you’ve been on the fence, now is the time to get up and make a purchase! If you plan to stay put for more than five years, few things can make as much financial sense as buying.
  4. You don’t need perfect credit to buy. There’s lots of loan money out there, and people with credit scores in the 600s may be able to qualify for loans in the $400,000+ range. So talk to a real estate agent or loan officer about how much you might qualify for.
  5. Don’t hesitate. Because it is a seller’s market, buyers need to be decisive and act quickly. Never assume the house is yours. Work with your agent to come up with a plan to counter offers, woo sellers and get that home!

To learn more about the Cedar Rapids real estate market, talk to a Coldwell Banker Hedges Realtor® today. They know the area and can show you some great neighborhoods you’ll be happy to call home.

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