As experts in “All Things Real Estate,” our agents have a wealth of knowledge, and this month’s blog is dedicated to answering your real estate questions. Whether you’re on the hunt for your dream home or considering an investment property to diversify your portfolio, our team is here to ensure you make informed decisions with your real estate investment and help you every step of the way.
How is the current state of the market?
According to Megan Bengtson, REALTOR®, “the market is still favoring sellers, and that trend is expected to continue in the near future. With low housing inventory and anticipated dropping interest rates from the end of 2023 through 2024, more buyers are likely to enter the market, creating increased competition.”
Is now a good time to buy a home?
“The right time to buy a home is ultimately when you feel ready, willing, and able.” Amanda Zahm, REALTOR®, emphasizes that interest rates or competition shouldn’t deter you from pursuing your real estate goals. Working with a reliable REALTOR® who will guide you through the process and negotiate on your behalf is key.
Susan Clark, REALTOR®, echoes the sentiment that the best time to buy is when you are personally prepared, regardless of market conditions. A knowledgeable agent will help you be ready to make a successful purchase.
How do I know what I can afford?
To determine how much house you can afford, consider your income, expenses, credit score, and down payment. Using a mortgage calculator can give you a helpful estimate.
How do I get started with the home-buying process?
The home-buying process involves several key steps, such as getting pre-approved for a mortgage, hiring a real estate agent, searching for homes, making an offer, and completing the closing process.
What advice do you have for a first-time home buyer? What are some common mistakes?
Amanda Zahm, REALTOR®, advises first-time buyers to view their first home as an investment into their future real estate goals, knowing that they might not stay in it forever. The average homeowner stays in their home for 7 years, and average property values tend to increase year over year.
Susan Clark, REALTOR®, adds, “one of the most common mistakes, especially in this market, is settling. When I start working with a buyer, I explain the current market for the price point and area they are looking to buy in and set them up for success and proper expectations. I won’t let them settle.”
How can I increase my chances of winning a bidding war?
In a competitive market, Megan Bengtson, REALTOR®, suggests talking to your agent to ensure you’re fully prepared and have the tools to be competitive. Organizing your finances, considering the sale of any existing property, and knowing your budget will position you for a strong bid.
What are the best renovations to make to increase the value of my property?
For those looking to increase the value of their property, Megan Bengtson, REALTOR®, recommends focusing on kitchen and bathroom renovations, as these areas often have a significant impact. Balancing the improvements with the neighborhood’s standards is essential to avoid over-improvement.
What support can PJ Morgan Real Estate provide for businesses?
For entrepreneurs and businesses seeking expansion, the right commercial space can significantly impact success and growth. Our commercial agents specialize in guiding you through the complexities of commercial real estate with the following insights:
- Understanding Your Needs: Clearly outline your business’s requirements, including the necessary space, amenities, and desired location to find the ideal commercial property that aligns with your goals.
- Evaluating Growth Potential: Anticipate future growth to ensure the chosen property can accommodate your business’s expansion plans without major disruptions.
- Negotiating with Confidence: Our experienced negotiators will work tirelessly on your behalf to secure favorable lease or purchase terms, empowering your business to thrive.
- Legal and Zoning Considerations: Navigating through legal and zoning requirements is crucial in commercial real estate. Rest assured; our team will handle these complexities diligently.
- Analyzing Return on Investment: Whether you’re buying or leasing, we’ll help you analyze the potential return on investment, ensuring your business has the right tools to flourish in its new space.
- Property Management Services: The PJMRE Property Management team is also available to manage your properties and investments. We have a team of talented property managers, who can assist you every step of the way!
Celebrating Community Successes!
Beyond our dedication to assisting clients in their real estate endeavors, we are always excited to celebrate them! Here are some recent successes of clients who are seeing expansion within our community:
Coneflower Creamery – Now has two locations
The Grove – Second location coming soon
Heirloom – Opening a shop in Millwork Common’s
Bryan Health Physicians Network – Opening a care center in a new development in Ashland, NE.
We hope you found this information insightful and valuable. If you have more questions, chat with one of our agents today! If you want to learn more about the current market, check out our Q2 Neighborhood and Commercial reports online!
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