This article originally appeared on La Jolla Light.
Real estate demand is on the rise this spring, according to a new Bloomberg business report. As of March 2012, improved job prospects and reduced borrowing costs appear to have boosted buyer interest in new homes; and the resultant annual sales figure of 328,000 significantly exceeded industry expectations. Some analysts believe that this bodes well for a final “bottoming-out” of the U.S. housing market – and eventually, a long-awaited rise in real estate prices across the country. This is good news for the economy; but it also makes the next few months a critical time, both for homebuyers looking to cash in on real estate deals and sellers eager to fix up their properties for sale.
While March saw an improvement in new home sales, it also saw a 2.6% decline in sales of existing properties, according to the National Association of Realtors. However, good sales numbers overall create a smaller inventory for buyers, which may help improve sales across the board as buyer competition begins to build. In addition, current mortgage costs are at an all-time low, increasing the likelihood of a market pick-up. All this adds up to make the coming months particularly favorable for prospective buyers; and with financial lenders making credit more available to qualified applicants, it is also a great time for sellers to finance a home remodel before putting existing property on the market.
Increase home values and customize new properties with help from an expert contractor
One of the best ways to improve your chances when putting a property on the market is to distinguish the space with design and appliance upgrades; and especially when competing with new properties for buyer interest, it is critical to incorporate features that make your home stand out. On the other hand, buyers who purchase existing properties may wish to personalize their new homes with custom design elements. Either way, an experienced San Diego contractor with an eye to current trends and the latest materials is your best ally for creating a desirable home.
At Murfey Construction, our diverse background in high-end commercial and residential construction, remodeling, design and consulting makes us the best choice for custom La Jolla contracting. Whether you are looking to add upgrades to our home before putting it up for sale or to personalize your new purchase, our team an provide anything from general consulting to full project management and construction – all based on your unique vision and performed with the utmost in skill and expertise.