In the community of Mllis, MA in the past month there have been 9 homes sold.  The average sale price of these homes was $446,711 and the homes were on the market an average of 53 days.  There have been 10 homes listed for sale during the past month in Millis, MA.
 
We are here to serve all your real estate needs in the surrounding communities.  We welcome your business, and we promise to take exceptional care of you or any of your referrals.

A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet.

The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown.

1. Interest Rates

One of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money. In our recent post we posed the question, “Are Low Interest Rates Here To Stay?” The latest information from Freddie Mac makes it appear they are. We are currently at a 21-month low in interest rates.

2. Building Materials

Talk of tariffs could also affect the housing market. According to a recent article, the National Association of Home Builders reports that as much as $10 billion in goods imported from China are used in homebuilding. Depending on the outcome of the tariff and trade discussions between several countries, there could be as much as a 25% boost in the cost of building materials.

3. Economic Slowdown

In a prior blog post on this topic, we began the year with many economic leaders thinking we could expect a recession in late 2019 or early 2020. As spring approached, we reported that economists had started to push that projection past 2020.  Now, three leading surveys indicate that it may begin in the next eighteen months.

Bottom Line

We are in a strong housing market. Wages are increasing, home prices are appreciating, and mortgage rates are the lowest they have been in 21 months.  Whether you are thinking of buying or selling, it’s a great time to be in the market.

For home sellers, renting a storage unit may prove to be a great idea, and perhaps it is easy to understand why.

A storage unit will make it simple to keep personal belongings like artwork and photographs out of sight while you sell your house. Plus, a storage unit offers a secure space for your personal belongings, one that you can quickly and effortlessly access at any time.

Although there are many wonderful reasons to rent a storage unit, choosing the right-size unit can be difficult, particularly for a first-time home seller. Lucky for you, we're here to help take the guesswork out of selecting a storage unit that suits you perfectly.

Now, let's take a look at three tips to help a home seller choose the right-size storage unit.

1. Take a Look at the Items That You Need to Store

A home seller must do everything possible to remove clutter before listing a house. And with a storage unit at your disposal, you should have no trouble keeping excess items outside your residence.

Ultimately, it is important to make a list of the items that you want to place in storage before you rent a storage unit. This will help you determine exactly how much space you'll need based on the items on your list.

For example, if you need to store a bicycle, treadmill or other large items, you may want to choose a 10' x 15' storage unit. Or, if you need to store boxes of kitchen utensils, bathroom supplies and various small items, a 5' x 5' storage unit may prove to be the ideal choice.

2. Consider How Long You'll Need a Storage Unit

With the right-size storage unit, you can protect various personal belongings until a homebuyer purchases your residence.

As you explore your storage unit options, it often helps to create a budget. That way, you can ensure that you'll have sufficient finances available to cover the costs of a storage unit for an extended period of time.

If you are unsure about your long-term finances, you may want to rent a small storage unit, thereby resulting in affordable monthly storage unit rental costs. On the other hand, if you feel comfortable with your financial situation, you may be better equipped than others to select a large storage unit.

3. Consult with a Real Estate Agent

Determining how much space you'll need in a storage unit can challenge even the most diligent home seller. Thankfully, a real estate agent can help you prepare your residence for the housing market as well as make it easy to decide how much storage space you'll need.

A real estate agent can put you in touch with storage unit providers in your city or town. In addition, he or she can offer home decluttering tips and help you get excess items into the right-size storage unit in no time at all.

Ready to rent a storage unit? With the aforementioned tips, you can select the right-size storage unit to safeguard myriad personal belongings while you sell your house.

In the community of Medway, MA in the past month there have been 10 homes sold.  The average sale price of these homes was $504,500 and the homes were on the market an average of 25 days.  There have been 10 homes listed for sale during the past month in Medway, MA.
 
We are here to serve all your real estate needs in the surrounding communities.  We welcome your business, and we promise to take exceptional care of you or any of your referrals.