Search all Northwest Indiana Real Estate listings

SELLERS-Buyer’s are looking for houses!

ATTENTION SELLERS! BUYER’s NEED HOMES FOR SALE!

 I’m sure you are hearing people talking about how the Real Estate market is doing well and how homes are selling in days.  I’m here to tell you they’re right! The market is doing exceptionally well right now “IF”! YES, I SAID “IF” the House is move-in ready and ready to show! If they’re not trust me, your going to know about it by the feedback that you receive. See the big thing is there are a lot of buyers out there but there aren’t to many Houses for sale that are move-in ready. 

Why do most BUYER’S want a move in Ready home?

There are actually a lot of reasons as to why, but the main thing I see is they usually don’t have the funds to make the repairs or updates. See the millennial generation is getting into the market place where a few years ago it was a very small percentage of them that were. Mainly because of student loan debt and lack of Jobs. The other reason is a lot of buyers would rather spend a little more and not do anything compared to pay top dollar and put money into a house. I’m going to make a video about this so please stay tuned. 

Do you want to sell or sell now? 

 That’s a really good question. See with the market doing so well right now it doesn’t make to much sense to wait. Especially if you have a more expensive house. Why do I say that? Say you have a house you’d like to sell that’s worth 500K and we’ll assume the buyer is putting the traditional 20% down. They’re going to finance 400K and let’s say it’s at a 4% interest rate. They’re looking at paying $1909.66 just principal and interest. Now say the rate goes up to 5% that payment would now be $2,147.29 which is a 12.4% increase in the monthly payment or $237.92 more. In the financing world that would equate to a $49,835.02 difference in financing so if you wait to sell with the higher interest rate you’d definitely eliminate a good amount of buyers. So your 500K buyer today would need to be more like a 450K buyer at a higher interest rate.  With that being said you would have a much narrower target of buyers. 

Now is this the case for everyone?

This doesn’t affect everyone. See the higher the rate the less buyers can afford which drives up the demand for homes in the mid and lower range. So everything is really depending on what you have to sell or what you are looking to buy! Either way here are a few links to try and help you out!

9 Things to do before you SELL YOUR HOME!

SEARCH HOMES FOR SALE BELOW!

Brent W. Wright is a local Real Estate agent in Northwest Indiana. He’s been working to help buyers and sellers make the right decisions and guide them through one of, if not the biggest transactions of their lives. 

Leave a Reply

About Brent Wright

Picture of Brent Wright

Brent Wright

Realtor

brentwright@mccolly.com

219-706-2998219-706-2998 main

Brent W. Wright McColly Real Estate

Serving Northwest Indiana! Beverly Shores IN, Burns Harbor IN, Cedar Lake IN, Chesterton IN, Crown Point IN, DeMotte IN, Dune Acres IN, Dyer IN, East Chicago IN, Gary IN, Griffith IN, Hammond IN, Hebron IN, Highland IN, Hobart IN, Kouts IN, Lake Station IN, Long Beach IN, Lowell IN, Merrillville IN, Munster IN, Ogden Dunes IN, Portage IN, Porter IN, Schererville IN, Saint John IN, Valparaiso IN, Wanatah IN, Westville IN, Whiting IN, Winfield IN

Reviews

5user8784985

Brent has stuck by my side through the whole process. If I want to see a house, immediately he sets up a time and we are looking at the house. You can always get ahold of him. He is very knowledgeable too!

5TeresaTaytumm

Brent is an amazing person, He helps in any way he can to his fullest! He isn't just doing his job, he goes above and beyond. With any question given, he has an answer every time and even if he did not know the answer, he would do whatever research needed so... (more)

5chris reed28

Brent is very hardworking. Best realestate agent to have. He showed me tons of homes in my price range and offered his expert opinion and background of the neighborhoods we were in.

Review Brent Wright on Zillow.com

Lender

Chuck Dayton

5

( 9 reviews )

(219) 763 3376 x4207

Lender Website