If there is one benefit to the nasty, historically cold winter we’ve been having here in Michigan, it is that it has given those looking to buy a home as well as those looking to sell a home in Canton or Plymouth Michigan time to hop online and really do their homework!
Mortgage rates have been declining steadily since the beginning of the year and are trending down toward 4% after starting the year at 4.53%! Needless to say, this is good news for buyers, but at the same time it’s their signal to get rolling before housing prices or interest rates increase as we move toward the spring and summer.
Those looking to sell a home in Michigan should be chomping at the bit as well. Realtor.org reported earlier this year that home prices in 2013 saw the largest percent increase, upwards of 11% as of December, since 2005. Michigan of course felt the pain of the real estate collapse and saw the third-highest home appreciation rate during the final months of 2013 – 14%. Experts predict this rate to slow, not only in Michigan but all over the country, so if you are selling a home in Plymouth or Canton Michigan you should get moving!
As the weather starts to warm, more and more buyers will be willing to venture out from their warm, comfy homes and head on out to open houses. Plus for sellers, it’s easier to make those outdoor repairs to your windows, siding, or roof when the snow and cold isn’t holding you back. Since both home buyers and sellers will be moving into new homes once their respective transactions are complete, getting ready to sell or buy home now allows you to do your moving when the weather is actually nice.
When you do begin the process of selling your home, contact the Plymouth or Canton real estate agents at Jason Matt for expert real estate advice, as well as new property listings that are popping up all over Michigan each week!