Most experts agree that the housing market will continue to be strong in 2020. Columbus is considered one of the hottest markets in the country.
January started with a bang …
Last week I listed a condo for $130,000 in the Dublin school district. My open house was overrun by more than 50 potential buyers. We received 12 offers and settled on a cash purchase for $5,000 over list price without contingencies.
Some of you may be hesitant to list your home, because you are afraid you can’t find a new one. If you plan on buying a luxury home that won’t be the case.
I believe this will be the best year ever to move up. Here are 3 reasons why …
The Perfect Storm for Move up Buyers
Sell Your Starter Home for Top Dollar
If you own a house worth less than $350,000 you have an opportunity to cash out now.
There’s a huge demand for starter homes in the lower price ranges.
And now is the time to sell.
Traditionally, the home buying season started in March or April. Not this year. Buyers are already out in force in January.
Buy Luxury at a Reasonable Price
While lower priced homes fly off the shelves, properties over $450,000 have been difficult to sell. Only 10% of all buyers can afford to buy in that price range.
There’s a lot of choice for buyers. Baby boomers are downsizing from the suburbs. New construction homes are an attractive alternative.
When homes are harder to sell, owners become more motivated and accept lower offers.
Take Advantage of Low Interest Rates
Mortgage interest rates are still below 4%. Your affordability has never been higher.
Take the equity from your old home and use it as down payment for your move-up property.
There’s a good chance your new monthly payment will not be much higher than on your current home.
Don’t miss this opportunity to move-up in 2020! Call or text me TODAY at (614) 975-9650!
Susanne Novak has been a Realtor since 2007. She is the broker and owner of RE/MAX 24/7 in the Dublin Historic District. Susanne typically helps 50-60 families each year with their real estate needs. She's your trusted advisor when you search for your dream home, and a skilled negotiator when she lists your property to get top dollar when you sell.