Market predictions for 2017

Screen Shot 2017-01-15 at 8.49.02 PMCharlotte’s thriving real estate market can expect continued positive trends in 2017. Local real estate experts are confident that even though mortgage rates are rising, they will still be at historic lows. And, even though inventory is very low giving sellers the upper hand, buyers are still looking for updated and renovated properties in the right price range, and it is the responsibility of the sellers to make their properties competitive.
Low inventory does mean that buyers are not going to be getting properties at a steal. Homes don’t stay on the market long, and given the strength of Charlotte’s job market, there are even more first time homebuyers here, making the housing market even more competitive.

It is important to keep in mind that just because sellers have the advantage, it does not mean that they can cut corners. Sellers should still make the investments in their homes that will make them more sellable and more memorable to prospective buyers.

Because the market in the coming year will be very competitive, a loan commitment letter from the bank will have more credibility than a prequalification letter.

A competitive market also means there will be a lot more anticipation. Buyers can expect to see more “coming soon” properties–homes that are not yet available but will be hitting the market shortly.

For more details and information on what buyers and sellers can expect from the Queen City’s housing market in the coming year, be sure to read the full article at CharlotteObserver.com.

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