Real Estate Special Section SUMMER 2021
Many homeowners continue to face uncertainty with the job market or even the thought of buying a new home after selling their own , which is why they are choosing to stay put . The historically low interest rates drove many homeowners to take advantage of refinancing at a lower rate , providing them with a decreased monthly payment . More time spent at home for both work and weekend activities increased the need and desire to make upgrades to current living spaces . A mix of lower mortgage payments and a refreshed home encouraged many homeowners to settle back into their residence . So , although affordable , Pittsburgh ’ s real estate market continues to see a very low inventory of homes , selling at and above — if not well above — asking price . Buyers wanting to break into the market are being met with increased home prices and bidding wars at every corner .
Buyers who are eager to put down roots can at least look forward to mortgage rates staying relatively low throughout 2021 .
As cities start reopening and economic spending increases , mortgage rates will likely start to rise from January ’ s historic low of 2.65 % for a 30-year fixed mortgage but are predicted to remain under 4 % for at least the next year , according to Bankrate . If buyers are eager and ready , now is the time to take advantage of rates that will likely only increase from here .
Whether you ’ re buying or selling , 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 real estate market . Enlist the help of a professional real estate agent to help guide you on the journey .
WANT TO SELL IN 2021 ?
Putting your home on the market requires a lot of work and can be emotional . Sellers often assume buyers will like their taste in décor and design and may overlook simple things that could keep their home from appealing to a wide variety of different 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 up space as if you were already showing your house before pictures are taken . Then , check out your home ’ s curb appeal . This is the first thing buyers will see when they pull up for a walkthrough . Do dead bushes need to be removed ? Old holiday decorations need to be put away ? Try to view your house as if you were seeing it for the first time . Maybe an exterior powerwash or fresh coat of paint on your front door would make buyers want to come inside .
2 . Make your interior warm and neutral . Bold or bright colors may have been an accent to you but could turn off a buyer . Some buyers want
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