It is no secret that there is a growing concern on the supply of homes in residential real estate markets. Although the financial landscape is returning to steady employment and rising rents – with exceptionally low interest rates – home sales are running into a problem. The price of available homes are still rising due to low supply in the markets.
During each spring local and national real estate markets generally see an upswing in home sales. Unfortunately, as of January 2016, the current available home listings are down more than 2% as compared to the same time last year.
What does this mean for you as a buyer?
Currently lower valued homes are driving market sales. Those looking to find a bargain or enter the market as a first time home buyer, the time is now to consider making a purchase. If you have a diligent and resourceful agent – the perfect opportunity may only be a phone call away. Moreover, with low interest rates, supply and demand playing cat and mouse, and steady increases in the employment numbers, an agent could be the best opportunity to lower your rent and assist you in becoming a homeowner.
What does this mean for you as a potential seller?
The first order of business is understanding your potential equity and the value of your property or properties. Knowing these key details about your properties will help determine whether you want to list your home turn your home equity into cash, or not sell at this time due to a surplus of similar valued homes presently saturating your local market, or simply you want to wait for prices to rise.
Selecting an agent and broker that can assistance you in evaluating market trends as well as your property’s potential equity and value is key. Market professionals can share details with you about your potential sale in the local market – ensuring you properly manage your equity through both market swings and dead-zones.
At Schwartz Realty, we can help you understand the best course of action and guide you through the process with ease. Let the some of the top realtors and agents in Las Vegas help you make the right decisions. For more information or to set up a consultation, give us a call today at (702) 485-1400.