Housing Inventory is Down! Now is the time to Sell. If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We’re still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.
“The biggest challenge to buyers this spring will be simply finding a home to buy and getting it successfully under contract. That’s because the supply of homes for sale is at an all-time low, and yet demand is strong and getting stronger.”
Smoke goes on to say:
“We started the year with the lowest inventory of homes available for sale that we’ve ever seen on realtor.com. While we did see inventory grow 2% in February, total inventory was down 11% over last year.”
In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies.
As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.
According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months.
The results of countless studies have shown that potential home buyers. Even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market.
One of the main reasons why For Sale By Owners (FSBOs) don’t use a real estate agent is because they believe they will save the commission an agent charges for getting their house on the market and selling it.
When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.
Buyer demand is increasing as the inventory of homes available for sale remains low. If you are thinking about listing your home for sale this year, let’s meet up so I can help you take advantage of current market conditions!
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups
The majority of states in the Midwest and South offer a lower cost of living compared to Northeast and Western states.
Millennials are not the ‘renter’ generation. Millennials purchased a larger percentage (34%) of homes in the U.S.
Spring is traditionally the busiest season for real estate. Buyers, experiencing cabin fever all winter, emerge like flowers through the snow in search of their dream home.
The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year.
Selling your home is a matter of competition in today’s real estate. You’re competing with other like minded sellers all fighting for the right offer at the right from an eager buyer.
Do Your Future Plans Include a Move? What’s Stopping You from Selling Now? Are you an empty-nester? Do you want to retire where you are, or does a vacation
California Prop 60 and Prop 90 Property Tax Transfer Rates
Home Buyer Demand Continues To Outpace Homes For Sale. The price of any item is determined by the supply of that item, as well as the market demand.
Inventory Drops Again, Sales Slow. Inventory of existing homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines.
Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.
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