What’s in store for 2020?

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While a hot real estate market can be exciting, it’s typically not sustainable. We’re going into 2020 with a quieter market but still a lively one. Buyers continue to want homes and homeowners continue to sell. A home that’s in great condition and priced right is still selling. 

Looking ahead, this is what we’re seeing for 2020:

  • Interest rates are incredibly low. The fixed rate on a 30-year mortgage is hovering at 3.75%. Great news for buyers.

  • FHA, Fannie Mae, and Freddie Mac are offering larger mortgages this year than in 2019. Also good news for buyers.

  • The number of homes on the market—what we call inventory—is low, creating competition for buyers.

  • Today’s buyers are well informed and educated. They’re attracted to clean, uncluttered homes in mint condition. Staging is becoming more important than ever because staging helps buyers imagine their lifestyle in your home.

  • Nationwide, January is one of the hotter months for real estate sales. If you’re planning to list your home this spring, aim to go on the market in February. The prime selling season is starting earlier in the year. 

  • To sell quickly in today’s market, homes need to be priced well.  

  • There’s buyer demand and with low inventory, the competition for buyers is tight.

  • Low interest rates and the strong rental market in metro Denver make this a great time to purchase an investment property. We can steer you in the right direction.

  • Start looking now if you want to move at the end of the school year.

  • Internet buyers like Zillow and Trulia are entering the market. Look for helpful information about hidden fees and other scenarios with iBuyers in next month’s newsletter.

Bottom line:

In 2020, a home that’s in great condition and priced right will sell. Smart pricing is critical in today’s market. If you’re thinking about selling, give us a call. We’ll talk with you about the factors that determine price. If you’re ready to buy, we’d love to hear from you.