Tuesday, July 20, 2021 / by Peter MacIntyre
I’m back here outside the Breslin Center to give you a quick update on our East Lansing real estate market. If you’re thinking of selling a home, now is a fantastic time. According to the National Association of Realtors, housing prices are going up by 9% in the next year, but appreciation will drop to 3% the year after that.
If you’re considering a home purchase, that appreciation will help you out in the future as interest rates remain low for the time being. However, a slight word of caution: We recently saw a buyer who waived a home inspection, offered $50,000 over asking price, and ended up getting burned because they didn’t do their due diligence before making it. Be wary of making offers like that.
If you have any questions for me about the market or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.