As the summer market ends and the beginning of the autumn property season begins, it looks like the historically fast-paced spring and summer seasons will take over to the colder seasons. So, does that mean fall is the new spring real estate season? It sure seems to look like that. With record-low mortgage rates, rapid action, higher demand for houses with less inventory, and a change of buyer needs, get ready for a strong fall housing market.
Mortgage rates have remained at record lows. The Federal Reserve has kept interest rates low during the pandemic in an attempt to keep the economy moving. Their effort has been successful as 2020’s housing market has outperformed 2019 using a forecast from the National Association of Realtors Chief Economist Lawrence Yung that this year’s home sales will surge past the 5.34 million homes sold in 2019.
The autumn property season should radically surpass previous seasons especially because of greater action. Together with low mortgage rates comes less stock. Realtors across the nation are seeing a surplus in clients along with a drop in available homes. In other words, there aren’t enough houses to keep up with the current demand. Due to the incredibly large demand, current projections forecast the aggressive competition among prospective buyers noticed this summer to last into the autumn season. Average houses available are expected to continue the trend of multiple offers, causing the average home cost to leap considerably. Along with the present trends, we are also visiting first-time homebuyers fearlessly make the jump to homeowner status.
While our current norm of everyday living has evolved so have the requirements of our property. The need for multifunctional, spacious houses has improved. Before the pandemic, a three-bedroom, two-bath, kitchen with upgraded appliances, and a comfortable living room were enough for homebuyers to register their name on the dotted line. However, as the global pandemic carries life as we once knew homeowners’ needs have altered. With millions of Americans working from home and the powerful indication that this will continue after the eradication of the COVID-19 pandemic, homebuyers are searching for a home, office, and school all in one. Together with the increase of Americans working in the home, location gets less of a deal-breaker because it was allowing prospective buyers to expand their search parameters.
“Zoom rooms” is a increasingly common phrase being thrown around when searching for a new home. Zoom rooms have been considered aesthetically pleasing rooms that are best for virtual meetings, not just rooms with 70-inch displays, camera, and noise-canceling microphone arrays, which are what a Zoom room technically is defined as. With pupils at home whilst practically learning, having space for children’s various needs such as a safe space outside has fireplaces changing their needs.
Together with the quick pace at which houses are being marketed, mortgage rates likely to stay at record lows, along with a pandemic which have altered how Americans live it is safe to suppose that autumn might be the new spring for property in 2020.
If you’re in the market for a new home, Preferred Properties of Texas would love to help you buy and sell anywhere in Stephenville, Erath County & surroundng area. Just give us a call, we are here for you!
If you’re looking to enhance the value of your home, one of the easiest and most affordable upgrades you can make is to install new windows. Older windows could make your home appear out-of-date and raise questions about their ability to insulate the home’s interior.
New windows are available in many styles that can let more light into your home, filter or adjust the light that enters and even offer built-in shades that can be managed digitally. Here are four ways that new windows can increase your property value:
Update the Home’s Decor
Replacing your older windows can make any room more attractive and functional. Many homeowners have all their windows replaced at the same time for consistent style and effectiveness, but even one room with upgraded windows can add that ‘wow’ factor to your home. You can choose from options like a bay window, a skylight, a stained glass effect, various pane designs and windows with an internal shading feature. With incoming light adjusted through the new windows, you can arrange for each room to have its own ambiance.
Eliminate Air and Moisture Flow
The frame seal on older windows can begin to deteriorate over time. Moisture from rain, snow and ice can creep into the property to create a damp or chilly effect. Strong breezes may cause older windows to rattle, revealing your home’s age and reduced ability to control airflow to the interior of the home. Having new windows installed will seal up any leaks to prevent further problems from outdoor air and damp weather.
Newer windows are built to last with sturdy materials and expert construction. You won’t have to worry about replacing your new windows anytime in the next few years. They’ll continue to look good as well; keeping your home up-to-date and aesthetically appealing. With a firm seal and quality products, your windows will hold their value without breaking down due to inclement weather conditions.
Reduce Utility Bills
Replacing your home’s windows will keep the cold air out so you don’t end up paying to heat your home against cold air squeezing into aging window frames. The glass of newer windows is also tempered to withstand strong heat, which may also help to reduce heating costs. Windy days won’t cause your new windows to rattle and you don’t have to worry about moisture seeping into the home to increase humidity or glass condensation.
Consider updating the windows in your home for a new look and more efficient heating and cooling. Windows can improve the appearance and overall comfort of your property!
Stephenville will be celebrating Labor Day on Friday Sept. 4th at the City Park, tailgate style with a Firework Show!
Show will start after the Stephenville ISD Football Game.
Come out and enjoy a great show!
Preferred Properties is here for all your recreational needs! Land, Acreage, Water Fronts & More.
Call today if you are thinking of buying or selling property or if you know of anyone thinking of buying or selling property. We love REFERRALS!
Check out our website: https://www.preferredpropertiestx.com/
#labordaygiveaway #txhomesforsalestephenville #horsepropertiesforsale #realestateinstephenville #homesforsalearoundstephenville #listyourhome #preferredpropertiestx
Beautiful 2015 Thor Motor Coach Tuscany 45AT motor home with 27,843 miles. Great Price!! Well kept and ready for you to load up and hit the road!
Serious Buyers Only. Must show proof of funds before we can show RV. Call Case Horton 254-977-3762 for more info.
Click on Facebook link below for pictures and detail.