Where to Invest Your Time
The past couple of years created unprecedented events throughout the world. No one could have predicted how broad a reach the pandemic would have or how the Russia-Ukraine war is adding additional pressure to food and energy prices. We now have the highest inflation in four decades. To combat this, the Federal Reserve raised fund rates for the fourth time this year with a 75% interest rate increase this past July 27th. What does this means for the housing market?
It means that the housing market is shifting! Homes are still selling, but for not as much and not as quickly. If you are planning on selling your home and want to know where to invest your time to help your home sell at the best price, here are a couple of areas to focus on.
1. Curb Appeal – Yes, first impressions are important. Spruce up your yard with debris cleared out, lawn cut, and shrubs tailored. If everything is still covered in snow, then make sure all walking paths are cleared.
2. Clean, Clean, and Clean – A fresh, decluttered, and odor free home shows the home is well-maintained and an easy way to rack up interior appeal as well as pride of ownership. This also means eliminating any signs of pets.
3. Turn-Key – This is the time to address any repairs the home may have and get them fixed. Whether it’s a burnt-out light bulb or non-functioning light switch, take this opportunity to get it fixed. Even a fresh coat of paint can make a big impact.
If you’re looking to buy, according to Freddie Mac, the US weekly average mortgage rates as of 8/18/2022 were:
Yes, mortgage rates have gone up but not all lenders are created equal. It is worth checking with your local mortgage contact to see what their current rates are. Feel free to ask me for recommendations for the Tahoe Donner area. More good news as a buyer, inventory is increasing. Take a look at our current homes for sale below.