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. 

Selling your Birmingham home? Get a free home value report

Buying a Birmingham home? Search all homes for sale

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!