Dave’s Market Update February 2020
It’s been a busy February. Activity has picked up considerably from last month. Everyone has Spring on the mind. Whether it’s getting a house ready to put on the market as soon as the weather gets nice, or wanting to move before Summer begins, the busy season has begun. Subject to the impact of the coronavirus, which I pray is as minimal as possible, for the benefit of people’s safety above all, this spring looks to be a normal, fast paced season.
Projections
A trip back in time - 2020 will be much like 2017 and 2018, competition among buyers will be high and prices will hold up at, near and in some cases above asking. As long as interest rates stay in this range, we will see buyers willing to pay these prices. If rates increase, which appears to be highly unlikely for at least the first half of 2020, then we will see some push back from buyers.
Just a reminder if you curious about these new Institutional Cash Buyers. We now offer you the opportunity to see actual cash offers from iBuyers before you list your home. We can submit to several iBuyer programs on your behalf and see if there is a fit for you, before we list your home the traditional way. We can even negotiate on your behalf to get them to compete against each other. We keep your information confidential, so if it doesn’t work, no problem. We can always list your home the traditional way.
We also have great news for buyers looking to lease until they are ready to buy. We now have a lease to purchase program! If you aren’t in a position to buy for reasons such as lack of down payment or credit, but want to live in a home that you would love to eventually buy, we have a program through Home Partners of America where they will purchase the home and lease it to you and you can buy it as soon as you are ready. Imagine, living in the house you know you want to buy and not having to move when you close on it. They also allow pets so you can live in the home as if it is already your home, until you officially buy it. It’s a great program. Just go to our website and under the Buyer menu, click on the Lease to Purchase tab.
Feel free to call me about either of these programs or for any real estate need you have. Thanks as always for the repeat and referral business and I hope to see you soon. Oh and don’t forget, this weekend is the last weekend for the Home Show and your free tickets should already be in your hand. Have fun!