The end of 2023 is almost here! If one of your New Year’s resolutions is to begin a new chapter in your real estate journey, we have some tips for you. Whether buying or selling in 2024, follow these tips to take on the process in stride!
The past year, 2023, brought a whirlwind of high median home prices coupled with historically high interest rates and low inventory levels. As we usher in 2024, you might be contemplating the idea of searching for a new home. With the anticipation of change in the air, here are some tips to assist you in gearing up for the home buying and selling processes while you await the opportune moment:
For home buyers:
Save 
While home prices may be evening out, interest rates are still high and cash buyers still have been present. It might be some time before we see a significant change, so in the meantime, check your savings account and take as many steps to save as you can. Bank your tax refund, start using those coupons and take advantage of that overtime shift.
Monitor your credit
Credit scores are like in-laws, you may not understand them or even like them but sooner or later you have to face them. Make sure your bills are paid on a schedule and you’re meeting the monthly payments. Dwindle your lines of credit to 3 or below. The best mortgage rates are generally given to those that have at least a 720 or above.
Get Organized
Before you start the search, make sure that you have all of your personal files and information in order. Start a folder, a drive or have a safe place for your documents including bank/ income statements, credit information, tax returns, personal identification cards, etc. Having all of these things before you start your search will allow you to jump on the dream home faster with less hiccups.
Use Your REALTOR(S)®
The process can be long and confusing and sometimes it may feel like you don’t even know where to begin. Your Robert Paul Properties Forever Agent is there to provide you with professional services before, throughout, and after the real estate process. If you need to find one, go to RobertPaul.com/agents to find the agent right for you.
For home sellers:
Research/Have a plan
The housing market is still in an interesting position where there may be a good chance that your home will sell for a higher price than in years before, however, inventory is scattered and unpredictable. Make sure that you are informed and prepared to move. Look at real estate reports in your area to get an idea of the market so you can set fair expectations.
Set a timeframe
If it is your goal to move by a certain month or season, set that early and don’t waiver based on market timing. Calculate the time it will take to sell, settle and personally transition to a new home. Get in touch with a real estate professional and they can help you back out the appropriate timeline.
Make updates and finish projects
From small feats to large renos – make a list of things that need to be done before selling your home. De-clutter your spaces, paint, replace broken items, etc. to get your home to its highest potential before listing. It has been seen that freshly renovated, clean homes sell faster than those who rushed into getting on the market.
Use Your REALTOR(S)®
Your Robert Paul Properties Agent knows the market landscape and the competition in the area. With a host of connections and peers, they can help connect you potential buyers. If you don’t yet have an agent to help you navigate the home selling process, head over to RobertPaul.com/agents to view all of our forever agents.