What Sellers Need to Know About This Market
Here’s what sellers need to know about their advantages in today’s market.
I’ve been getting this question from multiple people lately: Is now a good time to sell? Here are the two main reasons why the answer is yes:
1. Record-low inventory. Never in history have we seen inventory this low, which means it’s the optimal time to sell because you have very little competition. Buyers currently don’t have the option to choose between two or three similar homes in your neighborhood. You’ll have the attention of hundreds of buyers. For instance, we listed a house last week and had 72 showings within 24 hours and collected 56 offers.
"Buyers are purchasing houses that need a bunch of updates."
2. Low interest rates. These low rates are the reason that many buyers are in the market right now; they can afford a home that’s a bit larger, so they’re moving up.
You may be thinking that you have a slew of things to do to your house to prepare it for sale such as deferred maintenance or updates, but these days those things aren’t as important to buyers. They’re willing to forgo quite a bit just to win the home. We’re seeing inspections and appraisals get waived, and buyers are purchasing houses that need a bunch of updates. The extremely low inventory means buyers have very few options. This gives you a massive advantage.
The next question becomes: If I sell my home, where will I go next? We’re formulating deals for our clients, finding them houses, and getting them to the next stage of their lives, whatever it may be. We’re doing it every single day.
If you need a great agent to represent you, get you the most money, and help you into the next phase of your life, we would love to be your real estate resource. Give us a call or send an email; we’d be glad to help you.