Home Buyers' Expectations
Source, OC Register, January 7, 2017:
Without even shuffling the Taro Cards, shaking the Magic 8 Ball, or reading the tea leaves, home staging, home upgrades and mortgage interest rates will be the most talked about aspects of the residential real estate market in 2017.
Here’s why.
Upgrades: With the proliferation of home improvement shows, there is a heightened sense of expectation buyers are bringing to the table. In 2017, sellers will have to choose to make upgrades – in the current fashion and style – or price their homes accordingly, even if you’ve upgraded in the past.
Home Staging:
Degrees of staging range from using your own furniture and accessories after de-cluttering and de-personalizing the entire house to removing every single one of your possessions so the staging company can work its magic, transforming your house to make it look like a model home.
Houses that are not staged attract fewer interested buyers.
Mortgage Interest Rates: Interest rates will go up this year. How quickly and by how much will be the topic of constant conversation.
Savvy buyers will be tuning up their spreadsheets to calculate the increase in monthly payments with every change in interest rates.
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