No matter what your involvement is in the real estate world, you need to know what is going on in your local market. Keep reading to learn more about what is happening now and what the experts are predicting to happen in the months ahead!
See our weekly blog post “Markets in a Minute” published every Friday. This is a short 1.5 minute video outlining the latest in the lender markets, financial markets, job markets, and real estate markets. It is provided by John Haydin of First Centennial Mortgage.
What Is Happening Today
With an uncertain economy, both buyers and sellers have apprehension about the current state of affairs. While this may seem challenging, as this is written, it is still a sellers market in Milwaukee. With fewer homes on the market, there is more interest in yours if you are selling. If you are selling, I suggest for you to sell sooner rather than later. If the economy does go in the wrong direction for home buyers, the supply of home buyers will dry up and the participation of lenders willing to lend will also dry up. When the virus shutdown began in mid-March, those were the fears. Fortunately, and so far, those fears have not materialized.
Interest rates are hitting all-time lows, however, lenders are tightening up on who is eligible for a loan. Current economic conditions pose a threat to lenders if their borrowers aren’t able to repay their loans. While the interest rates may motivate more people to want to buy, it doesn’t mean they will be able to get the financing to do so.
Predictions for The Future
Nobody can say exactly what will happen with the real estate market in Milwaukee, but many experts are predicting a recession. This can actually have benefits if you position yourself correctly, educating yourself about the real estate market in Milwaukee. For example, you may be able to buy low and sell higher at a later date. And if you want to sell your house right now in Milwaukee, now may be the time to get the ball rolling before the downcycle really begins. At Best Choice House Buyers, we will buy your property outright in only a matter of days, saving you from the impending market fluctuations that will likely affect the value of your home. There are never any costs, fees, or surprises. Just a simple and straightforward transaction that can help homeowners sell their houses fast in Milwaukee
What You Can Do As A Home Seller
If you are ready to sell your home in Milwaukee, you’ll want to look at all of the selling options available to you. To determine what will work best, ask yourself some questions such as…
- How long are houses staying on the market in your neighborhood?
- Are home sellers in Milwaukee getting their asking price or are they having to lower their prices in order to get a sale?
- What will it cost to successfully list your home on the Milwaukee MLS after you have made repairs and fixed up the property?
- Will you recoup the money and time that you put into your property to make it competitive with other homes for sale?
- Are you sure the repairs and upgrading will be done correctly?
- If the house is vacant, you MUST stage the house to get the most money for it.
- Have you factored in the agent commissions and closing costs sellers face when selling in the traditional manner?
- Do you have the time and money to wait or would you be better off selling your house right away?
If you are trying to sell your house in Milwaukee sooner rather than later, hiring an agent and selling in the traditional manner may not be the right choice for you. For people who want to sell without any costs or waiting, working with a direct professional buyer will likely prove to be the best selling option. Run the numbers for your property and ask yourself the questions listed above.