I took the photo above this evening on my front porch. Under the overhang the thermometer read 99 degrees. It is so hot my cats don't even want to sit on the windowsill looking out!
Real estate is pretty hot right now too. Interest rates are creeping up a bit but there is still time to get in while the rates are low. Inventory is lagging; there are currently more buyers than houses for sale making it a seller's market for a change.
We're starting to see a return to a more normalized market. More and more we are seeing owner-occupied homes with soul and character on the market instead of just smelly and empty bank owned houses. It is a change most of the people I know in the business are looking forward to.
It is a learning curve though for the people who bought homes in the past couple of years. When the banks flooded the market with all the REO or foreclosed homes they changed the dynamic of how the real estate market was done. Houses were marketed dirty, in need of updating and with deferred maintenance.The banks sold them "as is". They would not even pay for the city required inspections. It all fell on the buyer to order inspections and assume repairs.
Now that we're back to "regular real estate" sellers are minimally expected to order those city inspections. Most purchase agreements again read "seller to supply C of O at closing" meaning the seller has completed any municipality required repairs to obtain the necessary paperwork. If you are considering selling your home it is a good idea to start by ordering the inspection (if your city has one) to find out what may be required. This will help you plan your market strategy.
The low interest rates, slim pickins' inventory and buyers who want to settle in before the new school year make this a GREAT time to put your home on the market. If you were even thinking about selling I would welcome an opportunity to walk through your home with my "Real Estate is Great!" hat on. Together we can outline the steps you can take to make sure your home sells quickly and for the highest dollar amount possible. And if you want me to bring some of my homemade lemonade (which was just perfect for an evening like this) I can do that too! Reach me direct at 734-486-0050 or celia@celiachesno.com.
Until next time, Celia
Speaking of temperature control the great people from Expert Heating & Cooling went out of their way for me today. I called them on a rush for of all things a FURNACE TEST for a Trenton property (which is required by Trenton for the C of O). The technician, Gene met me at the home, was quick & efficient and the price was reasonable. If you need someone to check your furnace (or perhaps more likely today, your air conditioner) consider giving Expert a call.
