How The Latest Remodeling Market Index Increases Impact The Real Estate Market

Posted by Steph Kaye on Tuesday, October 29th, 2013 at 12:49pm.

 

Equity in Your Home

If you are a homeowner or thinking about buying/selling a property the latest remodeling market index reports are a welcome sight. For the last two quarters there has been steady growth in the number of homes that have remodeling work done. This is a positive indicator that the property market is making a recovery. Homeowners are now financially able to take out equity in their home to renovate. There are two primary reasons why the property owners are renovating, to boost the value of their home and to enhance the value. This sentiment shows homeowners are committed to their purchase and look to maintain it over the long term. These are truly positive factors but it would be unwise to draw any conclusions based solely on that, instead what you need to do is look at the overall market conditions.

As property values begin to climb it may motivate some homeowners to sell their property and downsize due to a recent change in lifestyle i.e. kids moving away for college.  While the number of homes that are available for sale may increase so to will the prices. If you are in the market for a new home now may be the time to act before prices rise even further. While the real estate market as a whole is making a gradual recovery there appears to be no signs of slowing down. Interest rates are at all time lows so the cost of borrowing will never be more advantageous than what it is right now.

Individuals who are looking at either buying or selling a property need expert guidance, the way you do this is by reaching out to a Realtor that can provide you with advice on how to capitalize on these new trends.  The decision to buy or sell a home is a very personal one so never make it in haste but instead speak with a reputable Birmingham Realtor that has a well established track record and reputation, the sooner you get the facts the sooner you can make an informed choice.

If you would like information on your local real estate market, or are first time home buyer not working with a Realtor and would like to schedule a consultation with a qualified Oakland County and Macomb County Realtor, please complete the Lang Premier Properties contact form to have a real estate agent contact you.

Lang Premier Properties are  Birmingham Realtors specializing in Oakland County Real Estate. Stephanie is an agent with Max Broock in Birmingham, Michigan. See what past clients have to say about Stephanie Lang.  Lang Premier Properties looks out for your best interests when you purchase a new custom luxury home. We always recommend working with an experienced luxury real estate agent when buying a new luxury estate.

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