Now that we’re fully into 2018, people are starting to get serious about their new year, new me goals. For a lot of people, that means moving – selling their home to upgrade (or downsize) or buying a new house (anyone get engaged over Christmas?).
If you’ve been obsessively checking Zillow, Trulia or Realtor and want to know what’s really going on in the local housing market (from the experts), Elizabeth Ferguson, REALTOR® at The Moore Company, answered everything we want to know for buying + selling in 2018. ⤵
🏡 What neighborhoods are looking like good investments for 2018 (and beyond)?
The areas that saw the highest property value gains from 2016-17 (and look like they’ll continue) include are Rosewood (20.7%), Lake Katherine (12.8%) and Heathwood (10.33%). Smart investments also include neighborhoods where you can still get in at a good price, like Forest Acres and Elmwood/NoMa, which both saw sales increase by 6.4%.
🏡 What’s the best time to start looking?
It’s never too early to get started. This time of year people are starting to get their game plan together, but it’s still a seller’s market, so there’s not much inventory in the intown neighborhoods (yet). But things really start to get busy at the end of February + beginning of March (when it starts getting warmer). Busy season lasts until August (so people can close and move before school starts).
🏡 Tips for sellers?
If you’ve ever thought about selling, now’s a good time because there’s low inventory, but people are still trying to buy, and interest rates are still historically low (under 4.5). Plus, millennials are starting to #adult and make purchases (🙋).
Your buy + sell checklists ✔
✔ Before you list, get a pre-inspection to see what’s going on with the systems in your home and make repairs if needed.
✔ This is also the time you can declutter;
✔ do small upgrades to increase your ROI like painting, replacing cabinet faces + spruce up your landscaping;
✔ and empty out your furniture to have a stager come in to take photos (making everything look fresher + bigger).
🏡 Tips for buyers?
✔ First thing: talk to a lender. Figure out what you can afford – because you don’t want to start shopping and fall in love with something you can’t afford. (We love this rent vs. buy quiz from South State Bank.)
✔ After you figure out your budget, reach out to a realtor to find someone you click with. Realtors are free to you (paid by the listing side of things), so you’re not losing anything.
✔ Start seeing houses to find what you like – you could come into it looking for one thing, and find out you like something else.
✔ It’s a very competitive market, so a having a realtor means having someone that can get you in to see something that just popped up on the market – or something that hasn’t even been listed yet, that they know about + can show you (giving you a leg up on the hunt).
#1 piece of advice?
Always have a professional by your side. You go to a doctor because they’re an MD; an expert in their field. Get a realtor when you’re house hunting or selling because they’re an expert in their field. They’ll look out for you throughout the whole process (showings, home inspections, negotiations + more) so you get the best deal.
Want to get started? Contact Elizabeth at The Moore Company via email: Elizabeth@TheMooreCompany.com or phone: 803-413-0001.
