Property values have been increasing in the region, and if you are considering selling, now may be the best time to do so.
Below are a few things to consider, and tools to guide your decision-making.
SUPPLY & DEMAND
A seller’s ability to sell their property in today’s real estate market will be determined by both the supply and the demand for that property. In real estate, supply is represented by the current month’s supply for sale (the number of properties for sale) divided by the number of properties sold in the previous month.
Currently supply is low and we are experiencing a stronger demand in the region than we have seen in some time.
LOCAL ECONOMIC CLIMATE
You can gain a better understanding of the local economic climate by researching business development in the area. Below are a few links to assist you in doing so:
NEW CONSTRUCTION COMPETITION
Over the last several years, most homeowners selling their property did not have to compete with a new construction project. That is starting to change as more and more builders are jumping back in.
The National Association of Realtors expect new home sales to continue to soar, making it even more challenging to sell older homes in the future.
Understanding what your home is worth, and establishing the right asking price is critical to the home selling process.
Online tools do exist that help with home valuations; however they generally are not current and they can be wildly inaccurate in markets as small and as unique as ours.
To find out how much your property may be worth, email Lynette@mtonere.com today.
We are committed to providing accurate and professional representation to our clients in the disposition of their Montana REO properties. With over 18 years of professional experience in REO, we offer the comprehensive services you need to better manage your properties. Working with us will allow you to reduce the losses on your books, and make a difference in the local economy by providing homes to more buyers. Mountain View Real Estate would like to share their success with you.