by Suzanne Huntzinger
Rising interest rates are creating challenges in the active housing market, making homeowners rethink their decision to sell their home and buy a new one. Experts predict the market to remain active, so homeowners don’t have to give up on their dreams. Buyers and sellers just have to plan more strategically. The Sears and Syrus Realty Team at Compass Realty can help you navigate that plan.
Your Sears and Syrus realtor starts by educating you on how interest rate changes could impact your new purchase. Just a year ago, rates were under three percent. Right now, rates are in the five and one quarter range, and they’re predicted to reach six percent in 2023. That could mean nearly a one thousand dollar increase overall in your monthly house payment for a $500,000 home by next year.
You can get ahead of interest rate increases by maximizing your home’s value. An expert can help you determine the value of your current home, and together, you can decide whether updates are needed to achieve its maximum value. “We’ll assist you with proper preparation, effective marketing, and expert knowledge of local market conditions,” says Lisa Sears, Broker Associate/ Team Lead, Sears Realty Group.
Sometimes preparing your home simply requires staging. Sears and Syrus Realty offers complimentary staging services. “When your house is staged properly, the buyer forms a deeper emotional connection with the home and you’ll get a better offer,” Lisa says.
If your home needs improvements, Sears and Syrus realty offers Compass Concierge. This program is a loan to cover up front costs like painting or remodeling. It’s a win-win – it increases your equity position and increases your asking price.
When you’re ready to buy, sell, or invest in real estate, contact Sears and Syrus Realty at (317) 518-6671 or visit searsandsyrusrealty.com.
