Housing in Montcalm County stabilizing
Everywhere I go, people inquire about what is happening in the world of real estate. That is because most of us invest in real estate at some point in our lives.
There has been a lot written lately about the improvements in the market and about prices stabilizing. We find that to be true in the Montcalm County area, too.
The number of days a property spends on the market has reduced significantly. We are now seeing a shortage of inventory, which indicates an increase in prices.
The market has improved so much that we are getting multiple offers on properties that are priced right.
The price is not the only important factor in marketing property, though. Location and condition are very important, too. In order to facilitate a quick sale, the property needs to be priced competitively and should be neat and clean.
It is important to eliminate any clutter and paint any areas that show wear. Closets should be neat and not over full. If the closets are too full, it tells a potential buyer that there is not enough storage in the home.
First impressions are very important. The exterior needs to be clean and inviting. If the bushes and shrubs are overgrown, it may be worth replacing them. You never get a second chance to make a good first impression.
Mortgage rates continue to be incredibly low, which allows buyers to purchase a more expensive home. The rates for a primary residence are 2.75 percent for a 15-year mortgage and 3.4 percent for a 30-year mortgage. There are mortgage programs that will meet any buyers’ needs as long as they have a good credit score.
We are in our spring market, which has always been considered to be very active. Combine that along with the low interest rates and it may be a very good time to sell.