As we get closer to entering a new decade, both buyers and sellers are anxiously waiting to see how the market changes. Luckily, I have some good news—2020 is poised to be a pretty big year for the real estate world. If you’ve been on the fence about listing or finding a new home, here are a few reasons why you shouldn’t wait any longer.
Explore Record Low Interest Rates
If you’ve been keeping an eye on interest rates, you’ve probably noticed that they’ve reached a new low. This is great news for buyers, and it’s also an indication that the market is doing well. In fact, rates even dipped below 4% in 2019, which is a trend we’ve rarely seen before.
Want to take advantage of these numbers and save a little money? Rates are expected to hover around 3.7% for 30-year mortgages and 3.2% for 15-year mortgages during 2020. In layman’s terms, this means now is the time to make your move.
Avoid the Recession
Nobody likes to hear that we’re on the verge of a recession. Because our economy goes through cycles, it’s easy to track trends and see what’s in store for the future. Unfortunately, economists have been predicting a dip in the market for a while now, which means we’re due for a home pricing adjustment.
Don’t let these changes scare you off—2020 is actually a prime time to take advantage of all the equity in your home. Although we don’t know when the next recession will hit, it’s crucial to sell while the market is high. Current trends show that homes are still increasing in value, which is good news for potential sellers. If you need some help figuring out the right time to list, it’s best to reach out to a real estate professional.
Take Advantage of New Tech
If it’s been a while since you last bought your home, you might want to take a look at all the coolest advancements in the world of real estate! Home buying has turned into a largely digital process—you can even tour homes from the comfort of your couch.
Want to take advantage of the latest innovations? 2020 buyers can stay on the cutting edge with artificial intelligence (AI) search assistants, virtual reality (VR) home tours, and smartphone apps. Searching for your newest home has never been easier, especially with the power of technology on your side.
Reach A Larger Pool of Buyers
Want to gain access to an even larger pool of buyers? You might want to consider putting your home on the market next year. Millennials have now surpassed boomers as the largest adult generation, and many of them will be searching for homes in 2020.
Wondering what all of this means? A lack of inventory gives sellers a clear advantage, and buyers are willing to make a few more sacrifices than usual. In fact, some may even be willing to pay above list price for the right property, which puts more money in your pocket.
Ready to Buy or Sell in 2020?
Want to take the plunge into the world of real estate? 2020 is poised to be a year of opportunity, especially if you live in Port Liberte. I’m Paul Gulya, and I’d love to help you navigate the entire process from start to finish. Just reach out to me with any questions—I’m excited to team up!