REAL ESTATE SPECIAL SECTION SUMMER 2023
If you ’ ve had your eyes on the housing market the past few years , you know things are changing quickly , in every direction . Mortgage rates were at an all-time low during the height of the pandemic and home prices had been on the rise ever since as demand heavily outweighed supply . More recently , however , mortgage rates rose , and home prices are finally starting to level off from their steep increase through 2022 .
Zillow ranks Pittsburgh as one of the hottest markets for 2023 , and while many metro areas are expecting home sales to decline , Realtor . com predicts Pittsburgh ’ s will stay healthy . The region remains a desirable market for first-time homebuyers and remote workers thanks to affordability . The low cost of living also makes it an attractive location to raise a family .
In the heat of home-buying season , families may still face multiple-offer situations , especially in highly sought-after neighborhoods where inventory is low . In all locations , inventory remains a challenge as homes priced at market value are typically selling quickly . Mortgage rates are also predicted to remain under 7 percent throughout the peak buying season , well under the 15 + percent many baby boomers took on in the early 1980s .
If buyers are serious about purchasing a home , it ’ s important to be prepared . Even if you think you just want to start the process by seeing what ’ s out there , know what you can afford ( think down payment , monthly mortgage , funds for house projects , etc .) and have a preapproval letter ready to go . Knowing what you ’ re preapproved to spend will give you and your realtor an idea of where to start looking .
Whether you ’ re buying or selling this summer , the process can be an emotional one , especially in a competitive landscape . Be sure to arm yourself with knowledge and know-how before you hit the market . Enlist the help of a professional real estate agent to help guide you on the journey .
WANT TO SELL IN 2023 ?
Putting your home on the market requires a lot of work and can be emotional . Sellers often assume buyers will like their taste in decor and design , and may overlook simple things that could keep their home from appealing to a wide variety of buyers . These tips will help you make your house marketable :
1 . You only get to make a first impression once . Start with good pictures for your listing . Clean the space as if you were already showing your house before pictures are taken . Then , check out your home ’ s curb appeal . Look for the first thing buyers will see when they pull up for a walkthrough . Do dead bushes need to be removed ? Old holiday decorations need
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