And are we in one or headed for one? Good question. According to the S&P CoreLogic Case-Shiller Home Price Indices the housing market in general is still trending upward. Whether or not that is a good thing depends on if you are a buyer or a seller. The home prices are still slowly trending upward, but the economy isn't following the same line. The prices are rising due to lack of inventory, multiple offers, bidding wars. Yes, it's good to be a seller right now. If you are in the process of looking for a home then no doubt you have already felt the disappointment of having one sold before you could even scrape together an offer. House prices rising due to an increase in demand with a limited supply is what can start a housing bubble, if the supply doesn't replenish itself. So what do we do?
Sell! Sell! Sell! When is the last time you dreamed about a new home? If we can get the inventory up it would even out the market and reduce those artificially inflated prices. We would love to sell your home! We can offer you a comparative market analysis to be sure you get the best price for your home and guide you through all the paperwork and steps to make it a smooth transaction for you.
If you are a buyer, get pre-approved before you even start the process. This gives you a huge advantage. You don't waste time looking at homes you can't afford. You are ready to present an offer the moment you find a home you love, and you can tell the seller you can pay for it immediately, which makes your offer stand out from the rest. You can get pre-approved by mortgage lenders or bankers. If you don't have a trusted lender give us a call at Kuhlmann Real Estate, Inc at (320) 269-6481 and we will be glad to offer some suggestions and get you headed in the right direction.
Happy home buying and selling! It can still be fun out there!