Spring Market Tips for Homebuyers and Sellers
LOUISIANA REALTORS • March 23, 2018
Spring has arrived. And, after a colder, snowier, and icier than normal winter across Louisiana, the temperature isn’t the only thing that’s heating up. The real estate market is ramping up for home buyers and sellers alike. Here are a few things to help navigate the spring market whether you are buying or selling your home.
Use a REALTOR®
No matter if you are housing hunting or putting your home on the market, the experience and expertise of a REALTOR® is invaluable. From helping you find your next home to getting yours sold quickly and for the best price, their skills and resources will be put to work for you.
Pay attention to mortgage rates
Whether you are planning to buy or sell, a mortgage
may be in your future. After years’ of historically low rates, they are on the rise. Rates have increased in 9 of the 10 weeks so far through 2018. Currently, a 30-year fixed rate mortgage is 4.58% (according to Bankrate.com).
Inventory is expected to be up
The number of homes for sale in Louisiana is expected to increase throughout the year. As supply catches up to demand, it’s important to take the necessary steps that will set your house apart from the rest. Landscaping, repairs, paint, etc. all make a huge difference when it comes to curb appeal, especially as buyers have more options.
Know the market conditions
Currently, in Louisiana, the median listing price is $200,000. Of course there a lot of factors that go into these values beyond just the home. Schools, infrastructure, location, amenities, convenience, etc. Your REALTOR®
will be able to help your determine both a fair asking price if you’re selling, and a fair offer if you’re buying, based on all of these conditions.
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NAR is pleased to share the latest consumer guide focused on state and local tax (SALT) deductions . This guide explains federal tax law changes that temporarily quadruple the amount of state and local taxes (SALT) that taxpayers can deduct and will make homeownership more accessible and affordable, especially for people in higher-tax states. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: Assistance Programs Real Estate Auctions Working with a Real Estate Attorney Making Your Home More Energy Efficient Buying a Historic Property Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on August 6, which will cover packing tips and tricks.
The Louisiana REALTORS® Board of Directors will elect six (6) LR At-Large Directors at its October 8th meeting. Qualifications and an application for the position can be found below.
From flood zones to hurricane season, Louisiana clients have big questions. Learn how REALTORS® can confidently respond with local insights that build trust and close deals.
