Big Opportunities in the 2017 Birmingham Market

The year is almost over, so we're seeing expert predictions for the 2017 real estate market start to pour in. Most of the experts share the same opinion for what the market will look like next year.  

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The year is winding down and I'm excited to share our 2017 real estate market forecast with you today. 

The market looks like it could be really hot—scorching, you might say!

There's a lot of information going into this prediction from experts who are a lot smarter than I am, like the National Association of Realtors, the Mortgage Bankers Association, Fannie Mae, and Freddie Mac, to name a few. They're all predicting a hot year for home sales in 2017.

The NAR is predicting that home sales will reach 6 million next year after predicting 5.8 million homes sales this year. Other organizations predict well over 6 million home sales in 2017—that would be a stronger market than we've seen in a long time.

All signs point to a strong, hot market in 2017.

So what's driving this trend?

First, the economy is solid and growing right now. Another big factor is Generation Y (millennials) finally entering the market after putting off homeownership in many cases. They typically buy later in life, but they're getting to the point of being a major driving force in the real estate market. When they drive up home sales, it will be great for the economy. 

This will also drive up your home's value. If you're even just thinking about selling your house, be sure to give us a call or send me an email soon. I'd love to talk you through all the opportunities the market will provide in 2017. 

How Do You Find the Right Inspector?

You shouldn’t overlook the importance of a home inspector when buying a house. How do you find the right one for you?

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When you hire a home inspector, there are few distinct things you need to know.

First and foremost, the answer to the question “Should we hire a home inspector?” is absolutely yes. You also get to choose the home inspector. We will recommend a list of home inspectors to you if you want, because you need to hire a professional, not your uncle or cousin.

A professional inspector will give you pictures that we can use to negotiate repairs on the house. If we don’t have that official formalized report, it’s much harder to do these negotiations on your behalf.

Not all inspectors are created equal.

So how do you choose an inspector and what questions should you ask? The one you hire will be based on conversations you have and how comfortable you are with them in helping you protect the future of your investment. You want to ask things like whether they actually get up on the roof or if they just take photos. Do they actually go up and find out what’s going on in the attic? Also, ask them how they test things like electrical systems and heating and AC. 

Finally, realize that not all home inspectors are created equal. As you talk with them, compare costs to the value they present to you. An inspector may charge less, but they might not get in the attic or up on the roof, for example.

If you need a recommendation for a good inspector or you’re thinking of buying or selling a home in the Birmingham market, give us a call or send us an email. We’d be happy to help you!

Why You Should Never Buy or Sell Without an Agent

Many people who think they don’t need an agent underestimate how complicated a real estate transaction can be. Not only should you hire an agent, you should hire an expert agent. 

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You should never buy or sell a home without a real estate agent. I think there are a lot of people out there who get taken advantage of because they are unaware of what can happen during a transaction or because they work with an agent who is not an expert. Some agents are simply inexperienced or only working for the sale. These agents will not look out for your best interests. 

There are four things you should look for when hiring a real estate agent: 

1. Expertise: Look for someone who knows a lot about the market and will take the time to find out what you’re looking for. A real estate agent should act as your consultant and advisor, not a salesperson. A good agent invests their time in finding the best transaction for you. They are not just trying to sell you a house so they can move on to the next deal. 

2. Search power: Real estate agents who treat this as our profession are networking constantly. We talk with sellers and other agents to find out exactly what’s going on in the market. A lot of the time, we even have the ability to match up a buyer and a seller before the seller even puts their house on the market. Not all agents can do that. 

Your Realtor should act as your advisor and consultant.

3. Negotiating skills: A lot of Realtors may not be trained in negotiation. On my team, we take negotiating very seriously. In fact, we are all getting certified as negotiation experts so that we can provide extra value to you during your transaction. 

4. Connections: We are networking every day to find you the best lenders, home inspectors, pest inspectors, and contractors. No matter what you need for your home, we want to be able to connect you with someone who can take care of you and your property. 

Real estate transactions can be complicated, so it’s incredibly important that you find the right agent to work with. Don’t just go in alone. If you have any questions about buying or selling a home, give us a call or send us an email. My team and I would be happy to help you!

Can You Sell a Home During Fall or Winter?

Thinking about selling your home? Contrary to popular belief, fall and winter are actually great times to get top dollar for your home.

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I feel pretty strongly that the fall and winter seasons are actually great times to sell your home. 

A lot of people worry that fewer homes sell in the fall and winter than in the spring and summer. While this may be true, the difference is due to the fact that not as many sellers have their homes on the market. If you look at Birmingham historically, it is a minuscule difference.

I was talking with some folks looking to get into the real estate business and I explained to them that homes in Birmingham sell at almost as high a rate in the slowest month as they do during the fastest month. It's only a difference of 50 to 60 houses, which may seem like a lot, but in terms of the 10,000 to 12,000 houses that sell in the Birmingham market each year, it's not that much of a difference.

You'll have less competition and higher demand.

If you sell in the fall or winter, you will have less competition and higher demand from buyers who are looking at homes. There are also a lot of people who are relocating–companies relocate around the first of the year to get people in for the next year.

Also, remember that interest rates are at an all-time low right now. There is no guarantee that they will stay low going into spring, so that buyer that may qualify for your house today may not qualify in a couple months. The demand for your home in the fall and winter will be a lot higher, which will allow you to collect more money for the sale of your house.

If you've been thinking about selling your home, I hope you found this information helpful. If you have any questions for us, don't hesitate to give us a call or send an email. We look forward to talking with you soon.

How to Live in Your Home While You Sell

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I’m excited to give you four great tips today about how to sell your home for top dollar while still living in it. It’s a dilemma many home sellers face, and these four tips will make things a little easier:

1. Start packing. Go ahead and get started. The move is coming eventually, and you might as well be prepared in advance.

2. Get the home squeaky clean. We all love living in our homes, but it can get hard sometimes to keep things squeaky clean. While you’re showing your home, it needs to be squeaky clean to show well and make a good first impression on buyers.

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These four tips will make things a little easier.

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3. Maintain your privacy and safety. It amazes me that people will leave cash, jewelry, and other valuables out when they know that people are going to be walking through the home. Make sure anything that’s valuable or dangerous is put away, locked up, and unavailable for people to see.

4. Clear your schedule. If you are trying to sell your home, you’ve got to make it available for people to see. You also need to be willing to be flexible, on a moment’s notice, to let people check it out.

If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

4 Tips for Adding Value to Your Birmingham Home

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Before you list your home, there are four simple things you can do to add value to your property. First, improve your curb appeal. This is what buyers see when they first look at your home. Pay attention to landscaping. Are there any fresh flowers? Do you need to add rocks to flower beds? Does your front door need to be painted or replaced? Whatever you have to do, make sure the outside of your house looks great in order to capture the buyer’s attention. Next, declutter your home. As homeowners, we collect a ton of stuff over the years. You should get rid of all that extra stuff. Get it out of the house. Throw it away or put it in storage. Once your house is decluttered, it will feel larger.

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Neutral colors appeal to more buyers than bright, bold colors.

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You should also paint the interior of your home. Use light, neutral colors for the walls. Don’t go crazy with bold colors; some people may like them but a lot of people don’t. Going neutral with paint is your best chance at reaching the vast majority of people. Finally, update your faucets and fixtures. They do have a life cycle. One day, silver faucets and fixtures are popular, and before you know it, people are switching those out for bronze fixtures. Updating the fixtures can make you feel like you updated the whole bathroom. If you have any questions about adding value to your property or real estate in general, give me a call or send me an email. I would be happy to help you!

Why You Need a Buyer’s Agent in Birmingham

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I started out my real estate career working with buyers. Even today, I still see buyers making the same mistake. They approach the buying process without proper representation. Why is it so important to hire a buyer’s agent in Birmingham?

1. A buyer’s agent represents you. They don’t have any other interests other than your own. You have to compete with the listing agent, who serves as representation for the sellers.
2. A buyer’s agent knows what homes are available. They’re familiar with the MLS, especially which homes are newly listed. They interact with a real estate network you wouldn't otherwise have without their help.




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You need someone to help you stay focused!

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3. A buyer’s agent has connections in the industry. Beyond other agents, they know home inspectors, loan officers, and other professionals involved with the real estate process.
4. A buyer’s agent helps you stay on track with your goals. There is so much involved with the buying process and it’s easy to lose track of your progress. You need someone to help you stay focused!

These are only four of many reasons why buyer’s agents are crucial in our marketplace. Don’t make the mistake and not hire one!

If you’re thinking about buying or selling a home in the surrounding Birmingham area, give me a call or send me an email. I’d be happy to help you!

What Do Rising Interest Rates Mean for Birmingham Home Sellers?

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Late last year the Fed met and raised interest rates for the first time in years. It was a small increase, but what many people don't understand is that even small interest rate increases have a huge impact on affordability.

We're predicting interest rates to rise slowly over the course of 2016 as the market continues to stabilize. Inventory is down and home values will continue to rise. Additionally, on-the-fence buyers are going to enter the market in order to make a purchase before rates increase significantly.

It all comes down to supply and demand when it comes to the pricing of homes. We already have a low inventory, and we're expecting an influx of buyers trying to avoid high interest rates. This is a perfect storm for sellers in our area; your home's value will likely be at a premium in 2016! 

If you have any thoughts of selling your home this year, now is the time to start looking into the process. Give us a call or shoot us an email at any time so we can start talking about how much we can get for your home! We look forward to helping you take advantage of these fabulous conditions soon!

Our 2016 Forecast for Real Estate in Birmingham

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We’re thrilled to discuss the real estate forecast for 2016 today. Although interest rates are increasing, things are looking up. It means the economy is in great shape, especially in the Birmingham area.

That’s also a great indicator for housing prices. Prices will continue to rise this year. Homes that are priced well have a high likelihood of selling quickly. We’re experiencing multiple offer situations more often, which means demand is going up. Now is a great time to buy or sell, as we’re now in a balanced market.

If you’re thinking about buying or selling a home this year, give us a call today! We look forward to answering any of your real estate questions.