While the real estate in 2016 saw lower interest rates, the current year is going to be a good year as far as real estate is concerned. There is a shift in the pattern of home prices. The prices of the low to mid range housing seem to be on the rise while the prices of the higher priced housing are going stabilizing. 2017 is going to be dominated by sellers. Buying a house still largely remains a long term “savings plan” for most people.
So here are a few tips to make the most of the current market situation:-
· If you are planning to buy your first home in Beverly Hills or in another posh locality in Los Angeles, now is the right time to do so. Get moving immediately because according to some surveys more and more millenials are on the path to buying their homes which means that we can expect bidding wars as well as prices soaring like never before. You can start your quest for the perfect home by getting in touch with the best Real Estate Brokers in Beverly Hills.
· If you are planning to sell your property, the best thing to do first will be to find the agent that knows what you need and how to get it done. If you do not find a suitable agent, you could lose not only time but thousands of dollars as well. Look at the agent’s online listings. Try to assess the seller’s profile by cross- checking with reviews on the web. Once you have done your research, the next thing that you can do is shortlist three to four agents and interview them personally. Ask them everything that’s on your mind.
· There is good news for the people who are planning to buy property. This year affordable financing will be available again. This means that even if your FICO score is as low as 690, you can find loan to buy property.
· For those who are currently renters, it may be time to rethink your financial strategy. In the current scenario, it may be better to buy than to rent as the prices of rents are going up pretty fast. To calculate, whether you should buy or rent you can use calculators like Bankrate’s calculator which can help you compare various variables. You might need to ask for professional help from the best Real Estate Brokers in Beverly Hills in case you are planning to purchase a property in that locality.