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Should you renovate a home before you sell?
Manage episode 438157267 series 3491926
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Welcome to the Real Estate Education podcast. #realestate #rentalproperty #landlord #realestateinvesting #podcast #homebuyingtips
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🟢 Mortgage Rates and Housing Inventory Trends: Mortgage rates are slowly decreasing, which could attract more buyers back into the market. However, the current low inventory has pushed prices higher, creating potential competition among buyers as rates continue to adjust.
🟢 Market Timing for Homebuyers: With fewer buyers currently in the market due to still-high rates, there may be a short window for prospective buyers to purchase with slightly lower interest rates and limited competition, particularly in suburban areas where demand is often family-driven.
🟢 Renovating vs. Selling 'As-Is': Full home renovations may not offer a substantial return on investment, especially for mid-market homes. Sellers might benefit more from minor improvements like curb appeal and staging, rather than extensive, style-specific renovations that may not appeal broadly to buyers.
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