Home Values Reaching New Highs

Most people see their Springfield home as a place to create family memories, but it’s a good time to look at your home as a financial asset. According to a new Zillow real estate market report, the home worth of typical homes in America surpassed the $200,000 mark for the first time. The report showed home values throughout the country are up 7.4 percent compared to last year. At the same time, the inventory of homes is down. Experts point out there is more competition for homes with 11 percent fewer houses for sale compared to last year. Sellers who own homes in Springfield MO will likely see more immediate interest in their home listing.

Having a home show ready when listing

Instead of taking your time to fix up your Springfield home while it’s listed, make sure to have all the cleaning, staging, yard work and repairs completed before listing. Some home sellers receive offers the first day. In a low inventory real estate environment, it pays to stay prepared for showings.

Making a move after a long wait

Some people delayed selling their homes because of the housing decline. If you were underwater on your mortgage, owing the bank more than your home was worth; it’s a good time to check your home worth. A good real estate agent gives you a solid estimate. Home values during the U.S. housing boom reached $196,000 but now home values surpassed the $200,000 mark. If you could not make money by selling in the past several years, it’s a good time to reassess the situation.

While the typical home is worth $200,000, your particular home is worth more or less depending on the age of the home, condition, square footage, number of bedrooms and upgrades.

For people interested in buying a home in Springfield MO, expect home values to continue to rise. By getting your finances in order and working with a real estate agent with bidding war experience, you come out on top.


 

At Realty Executives By Realty Choice, we focus on our clients. For more information on a market analysis of your Springfield MO real estate property, please contact us.

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