Change is the one certainty we all live with. I don't know about you, but I remember my grandparents drilling that into my head. Real Estate values are no different, we have price up ticks, and if we all remember 2008, we have market down turns. The market is definitely shifting, which does not mean panic is necessary. It is actually good news. The market needed to stabilize. We are moving more towards equilibrium.
What does this mean for you as a home owner? If you are thinking about selling I definitely recommend getting a valuation from a professional realtor who knows your market. The information will help you make a decisions about estate planning, is it the right time to sell and should I make repairs.
It is crucial that you speak to a Realtor before spending money on repairs ahead of a sale. Most repairs I have seen home owners make were unnecessary. Which translate to money you will not recover especially when values are leveling and declining.
The good news is the conversation is free and most Realtors love to talk!
By: Debi Hauer, Broker, Realtor, investment and residential specialist