Many sellers discover that selling a home in this volatile real estate market is profitable. Some, however, are still struggling to make the connection.
According to research, buyers appear to be more engaged in a bidding war due to the low inventory of available homes. As a direct consequence, sellers have the upper hand. But is it the right time to sell in this market?
If you’re considering selling your home soon, there’s a lot to consider, especially since you want to make the best decision possible. Unfortunately, there are more buyers than available homes in this market. What exactly does this mean for sellers? Buyers may be anxiously waiting for your home to go on the market. Therefore, you may want to maximize your home value while also making the best financing decision for your next home as a seller.
But, in this sellers market, listing your home can draw much attention, and you may get many inquiries from a flood of prospective buyers even before the house is listed.
Let’s look at two compelling reasons why this season could be your prime chance.
When there is a high demand for homes but a limited supply, home prices can rise dramatically. Therefore, home values will rise if this trend continues.
What does that mean for homes owners thinking about selling? First and foremost, if you decide to sell your home, you may be able to purchase a home of your choice easily. You may also be able to use your growing equity to buy your next home before prices rise even further with these real estate listings.
Likewise, once you make your purchase, the value of your new home may increase as a result of rising home prices.
According to MarketWatch, “As home prices continue their rapid rise, many Americans are sitting on a pile of equity in their homes.” “…, the average homeowner gained approximately $55,300 in equity during the past year,” reported CoreLogic.
Now, do you know how much equity your home has? Could you use that equity to fund your next transition, such as purchasing a new home? It may allow you to make a larger deposit on your new home, lowering your monthly mortgage payment.
As home prices continue to rise, homeowners considering selling may find themselves in a stronger position to sell. Nonetheless, not everyone is aware of how to deal with market dynamics to maximize the economy’s potential.
This environment provides sellers with numerous opportunities and the ideal time to sell in this market if they know how to do so correctly.
So, working with a great real estate professional to assist you in properly pricing your home gives you an excellent opportunity to attract strong qualified buyers, potentially sell your home quickly, and find the new home you desire.
Let’s work together to make your dreams come true.
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