The springtime real estate market in Columbus, OH points to a confident, but still relatively moderate marketplace. Moderate appreciation is sprouting all over Columbus and helping sellers by providing equity, but not so much equity that buyers that are getting priced out of the market. Financing terms, thanks to the new Consumer Finance Protection Bureau rules are easier to understand, feel fair and will deliver financial opportunities for most home buyers who believe they are ready to buy. The new rules are here to stay which is a good thing. Quality homes are in every price range beginning with homes for people who are entering the home ownership stage to those who currently own their dream home and are ready to downsize.
First Time Home Buyers
People who looked for their first home but did not buy in 2013 feel the doors of home ownership opening. Sellers, realtors and lenders are appreciative of the energy first time home buyers bring to the market. Anyone who thinks home ownership is within his or her capabilities should do research and meet with a lender. Down payment requirements for government backed loans are surprisingly low and this spring in Columbus is positive for entry level home buyers.
First Time Sellers
Also this spring, first-time sellers should have a good market to enter into. There is still a generally low inventory so when homes go on the market they typically are not lasting long. Buyers are ready to take advantage of available listings and are respecting homes priced wisely. There will be plenty of buyers this spring to make this happen thanks to affordable interest rates and a positive loan atmosphere.
Home prices have risen over the past few years, but they are evening out this spring. The prices are still relatively low compared to several years ago, but at the same time first-time buyers are very active. Sot what does this mean? You have the unique ability to sell your current home and purchase your dream home.
At last, the boomerang kids are landing jobs and craving independence more so security these days. The boomers can be liberated from too many bedrooms and yards that are too large to take care of on a regular basis. Give the extra set of dishes, old couch and lawnmower to your children who are moving out. These buyers are out there waiting for their longed-for homes to hit the market. Freedom belongs to boomers this spring and if you are considering moving out and into a more manageable property it is an excellent time to do so.
Every aspect of the home market can be perceived as positive for any buyer or seller due to the neutrality of the market right now. We are in an in-between period of a buyer’s or seller’s market and the time is now to make your move before the market begins to change. For more information or specific information on your area whether you are buying or selling, please do not hesitate to contact us.