Take the Plunge: The 4 Best Reasons to Buy a Home This Year

    The housing landscape of the past several years hasn’t exactly been friendly to buyers: the bidding wars, the eye-popping prices, the houses that sold before a “For Sale” sign even went up. It’s enough to make any of us put our search on hold until we have a fighting chance at landing a home—without draining our bank accounts.

    If you’ve been sitting on the sidelines, we’ve got good news and we’ve got bad news: Things are finally slowing down. But they might not slow down fast enough for your liking.

    Don’t despair, though—this year still stands to look better than last for aspiring home buyers.

    “If your resolution is to buy a home in 2019, you’ll have some challenges to contend with, but also some opportunities,” says Danielle Halerealtor.com‘s chief economist.

    The devil’s in the details, though, and there are quite a few factors that could dictate whether this is your year to buy. Here are the four biggest reasons to take the plunge now

    1. There will be more available homes—or at least, not fewer

    Tight home inventory has sidelined would-be buyers for several years now. Even if you could afford a home, too few of them were hitting the market to keep up with demand. Or, when they did, there was a good chance they were snapped up before you could even call your real estate agent.

    House hunting felt especially bleak last winter, when nationwide inventory hit its lowest level in recorded history. By the end of 2018, though, things finally started looking up, and in 2019, experts predict more opportunities—and less frustration—for buyers.

    But there’s a catch: Not everyone will be able to afford those opportunities. That’s because the markets seeing the most increases in available homes tend to be more expensive, Hale says.

    “For buyers, there is going to be more inventory. So that’s a bright spot,” she says. “The downside of that bright spot is it might not be in their price range.”

    If you don’t have big bucks, though, all is not lost. The news is still good—just tempered. The supply of affordable homes for sale (under $300,000, which is about the median home price right now) might not be growing dramatically just yet, but it’s certainly not decreasing anymore.

    2. Skyrocketing prices will slow their roll

    While inventory went down, down, down over the past few years, home prices did the opposite. Will we still see staggering dollar amounts throughout 2019?

    It’s another mixed bag here: Expect home prices to continue to rise (blah), but at a slower pace than they have been (yay). Hale predicts a 2.2% increase in home prices this year—compared with a nearly 5% increase last year.

    That’s not nothin’. And if you can get in the market before those moderate increases, all the better.

    “We do still anticipate rising home prices, particularly for below-median-priced homes, so buyers in that price range may have some incentive to buy sooner rather than later,” Hale says.

    And there’s a silver lining to those climbing home prices, too—again, for some of you.

    “As rising costs raise the bar to homeownership, some would-be buyers will be knocked out of the market, so that remaining buyers may have less competition to contend with than they saw in 2018,” Hale says.

    https://www.realtor.com/advice/buy/2019-reasons-to-buy-a-home/?identityID=5af5e595e4cab0e66d67ad1f&MID=2019_0208_WeeklyNL&RID=5352521062&cid=eml_promo_Marketing_NonPRSL_WeeklyNL_cons.10797762_2019_0208_WeeklyNL-blog_4_2019reasonstobuy-blogs_buy

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    Derick Faust

    Derick Faust is a Realtor and team member of the Love Where You Live OH Real Estate Team. He is a native of Central Ohio and attended Franklin University, Ohio University, and the Muskingum Area Technical College. Derick's knowledge and business acumen uniquely prepares him to go above and beyond in order to meet the needs of Buyers and Sellers. He is a member of the Columbus Board of Realtors, Ohio Association of Realtors, and the National Association of Realtors. The Love Where You Live Real Estate Team established itself as a team of trusted real estate advisors in the communities of Westerville, Worthington, Grandview and Grove City and serve ALL of the greater Columbus area. Purposefully partnering with the elite, ERA brand and by locating our office at the south entrance into Historic Uptown Westerville, we bring the power of an International brand with a Boutique "feel" and level of service to all our clients. The Love Where You Live OH Real Estate Team is continuously building a reputation within the industry, and among our peers as dedicated, competent, consummate professionals. The Team Leader, Rob Pemberton has "hand-picked" every team member because of their character, their personal code of ethics and their dedication to serving our clients according to our motto that "doing the right thing is always the right thing". It is possible, in this industry, to combine Competence & Caring and this goal is at the heart of The Love Where You live Real Estate Team. ERA Real Solutions Realty has offices in Cincinnati, Grove City and Westerville, Ohio. ERA Real Solutions Realty is the fastest growing ERA brokerage in the Nation.

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