by Matt Keating
Phil Hotle with RE/MAX At The Crossing has some strong advice for home buyers in the current climate. “There are extremely low interest rates, and now is a great time to buy or refinance,” Hotle said. “The spring market is going to be delayed, but when things get back to normal, it is going to be a very, very good market. People are going to have a severe case of cabin fever, and this time at home is just reaffirming what they have been thinking about.”
For empty nesters, Hotle says the increased time at home is just reconfirming that they have too much home to take care of. “They need to right-size to a home that now better fits their needs,”he said. “I call it right sizing, not downsizing. They may be asking themselves if now is a good time to stay or move to a ranch style home or retirement community. They may also want a quality house that can still accommodate family gathering.”
“For families, the recent time at home may be showing them that they have outgrown their present home and need a new one that better fits their family’s needs. All of this recent time at home may have convinced them now is the time to search for a bigger home,” Hotle said.
For first-time home buyers, Hotle says that now is an excellent time to take the plunge and buy their first home. “The rates are low right now,” Hotle says. “They should enjoy the fruits of home ownership and build a new home or buy an existing home.”
Hotle noted that new home sales are going to explode. “There is a lot of new construction going on now,” Hotle says. “Another hot segment of the housing market is the remodeling and updating of homes. A lot of people are replacing their flooring and making other updates to their home.”
If you would like some more guidance with your next real estate transaction, please reach out to Phil Hotle at 317-919-8504.