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Those in the real estate business can tell you the current trends in the market have a huge influence on buying and selling. If you have flexibility in your timeline and choices, you can wait until the market is in your favor to buy or sell, which can save or earn you tens of thousands of dollars. The industry experts at EXIT Realty Upper Midwest, with locations in Iowa, Minnesota, South Dakota, North Dakota, and Wisconsin, share the current trends of the year and what they mean for you.

Current Real Estate Business Trends

1. It’s Time to Upsize

real estate businessLarger homes have seen the smallest value growth in recent years, so if you’d like to upsize, now is the perfect time. Equity from your smaller home will go much further in a new house, allowing you to purchase in a nicer area or pick a place with a bigger yard. Larger homes are sitting on the market for longer, so you will have plenty of options and can negotiate a price that suits your budget.

2. Flexibility Is Required in Buying Small

If you’d like to downsize or buy your first home, be flexible in your options. The market is hot for smaller homes, so they are being snatched up quickly with multiple offers. By expanding your options, such as a smaller yard or a home further away from the city center, you’re more likely to find what you’re looking for at the right price. If you are inflexible, you may prefer to rent a few years and wait to see what the market does.

3. Jump on Those Record Low Rates

Interest rates are currently the lowest they’ve been in years, but they are expected to rise quickly. For that reason, now is the time to invest in real estate. Even if you are buying a smaller home, you may be able to pay more by locking in a lower interest rate.

For more information on the 2017 market trends, turn to EXIT Realty Upper Midwest. The real estate business will guide you through the process and help you successfully buy or sell your home. Contact them at (612) 414-4022 or via their website to learn more.

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