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What Are Your Objectives for the Real Estate Market This Year?

Friday, January 6, 2023   /   by Laura Larson

What Are Your Objectives for the Real Estate Market This Year?

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If buying and/or selling a home is on your bucket list for 2023, it's critical that you understand the current housing market, set up your goals, and collaborate with real estate professionals to crystallize your homeownership vision for the coming year. High inflation during 2022 had a significant impact on the housing market, the economy, and on your wallet. Because of this, it's essential to know exactly what you want from the house-buying or selling process as well as a solid idea of the current market.

Chief Economist Danielle Hale explains: “The key to making a good decision in this challenging housing market is to be laser-focused on what you need now and in the years ahead so that you can stay in your home long enough that buying is a sound financial decision.”

1. What Inspires You?
There are many compelling reasons to purchase a property in today's market, despite what may be occurring in the market. Your needs might have changed in a way that your existing home is unable to accommodate them, or you might be prepared to become a homeowner for the first time and have a place for yourself. Work with a knowledgeable professional, and use your motivation as a compass to help ensure that your decision will provide you with a long-lasting sense of accomplishment.

2. How Will Your Next House Look?
There are now more houses for sale, which may provide you with additional options when making a purchase. Just remember to stay within your means and work with a reputable real estate agent to balance your wants and needs. The easier it may be for you to choose the home that's appropriate for you, the more you will realize what's important and where you can be flexible.

3. Are You Ready To Buy?
Before you get too far with the process, it's important to be clear on your spending and saving goals. The easiest method to make sure you're in a strong position to buy is to work with a local agent and a lender as early as possible. If your relocation entails selling your present home, this could also involve determining how much money to save aside for a down payment, getting pre-approved for a mortgage, and determining your current home equity.

4. A True Expert Will Lead You Through Each Step of the Way
The process of buying or selling a home is complicated and requires knowledge. You are not alone if that seems a bit daunting. A recent Harris Poll poll found that one in five respondents believe that not having enough knowledge or information about the home-buying process prevents them from becoming homeowners. Don't let fear prevent you from achieving your goals this year. Laura Larson can fill up the knowledge gap and provide you with the greatest recommendations and market data.

Bottom Line
Work with Laura Larson and her team of industry professionals to plan how your dreams for 2023 can become a reality.