gmhTODAY 07 gmhToday Mar Apr 2016 - Page 80

Tips for Buying or Selling a Home in 2016 R forecasts that 2016 will be a healthy Real Estate market. It is forecasted to be mainly a seller’s market, fi lled with increasing home prices, relatively low inventory and fi erce competition between buyers. Buyers should keep an open mind and be prepared to move quickly when they fi nd a home that meets their needs. Sellers should understand the ins and outs of their market to optimize the price of their home and close quickly. Tips for 2016 home buyers: Be the early bird. With inventory low and many buyers waiting until the spring/ summer to search, buyers who start their search early face less competition even with low inventory and may beat an increase in pricing. Comparison shop for mortgages which are predicted to rise to 4.65 percent and prices are predicted to rise at least 3% in 2016. Getting a lower mortgage can make a big difference in the payment and total cost of the home over the years of ownership. Consider a new home purchase. The number of new homes on the market is expected to grow more rapidly and buyers are likely to have less competition and enjoy a broad selection of homes. Tips of 2016 home sellers: List during the peak season: Unlike buyers demand benefi ts the sellers. In the West, prime housing market is in the late Winter/early Spring to Summer. During this time there can be bidding wars which can increase the price of the home and the days on the market. Price a home to the market: Sellers who work with a local Realtor to optimize the price of their home based on its unique features and surrounding neighborhoods are often able to receive the highest price for their market and sell more quickly. With 2016 prices predicted to rise at least 3% year over year with the potential for the West market to be higher, pricing the home correctly can make a big difference in profi t and time on the market. Offer incentives: Last year 37% of sellers offered incentives to buyers by being open to negotiating beyond price and were more apt to fi nd scenarios that result in wins for each side resulting in a faster sale and more seller profi t. Sell a home in California: California markets are ac 6VW&Fr7BFR6FfPFfW&vW2B6vrWG&VVǒff&&R6FF2f"6VW'2&'W7@"w&wF7&V6r&6W2BƖ֗FVBfVF'fR6VW'2&VGf"&rv0FR7F6FF&W'6fVBg&W6B66R7VfR6F6&&VV67FG06G&VG26vRf֖ǒ&W6FVF&v7FfPW26@F2&W@6RFƗ7B&FdT$U"#PCpC@3"PDT4T$U"#P0ScPT%#`PCc pFW&V6&VF FW&&VW7FFR6W'f6W0CC#RS#%$R3SS