Catching the wave: selling your house in today’s ‘sellers market’!
Crisp fall weather is here in Greater Boston. Beautiful fall colors and pumpkins of various shapes and hues abound. But what if you are more focused on your changing Real Estate needs than on autumn leaves?
Are you contemplating selling your house … be it to upsize or downsize? Are you still sitting on the fence? If so, this article is to urge you to jump off the fence and get started – because this is a VERY good time to sell real estate:
Low inventory: All over the country, but definitely in the thriving towns and cities of Greater Boston, inventory is very low. This means that housing stock is in short supply, demand is strong and prices are being pushed up. Inventory is so low – that it is just short of a crisis situation. This is definitely a good time to list your house.
Serious buyers: In the right towns and for the right properties, multiple offers have been commonplace – and sellers are doing well across the board. These past few years have been particularly hard for first-time homebuyers. Now, having gone through a summer of being outbid on homes, with hardly any contingencies, buyers are well informed and realistic about what they can afford and how much they need to pay for it.
Low interest rates and good availability/access to credit – Having interest rates at an all time low, makes it more likely that buyers are sound financially and can afford what they bid on. This enables mortgage contingencies to be met and sales to go through without too many complications.
Yes, it is definitely a ‘sellers market’ out there! IF you are still thinking of selling your home you need to get cracking and get it on the market as soon as possible. Even though the big spring rush of buyers trying to get a property before schools open is done, there are plenty of buyers still looking. Yes, you too could be at the receiving end of multiple offers with hardly any or no contingencies! It is not too late to get started.
There are some caveats to the above. Pricing your property right – goes without saying in any market conditions! Unusual homes, with unique features, may also need some special considerations. Also, if you are looking to both sell and buy – there are strategies to consider.
Most of these issues will get taken care of when you hire a great Real Estate agent. So what are you waiting for? Give me a call if you would like to talk further about your real estate needs or would like me to do a free comparative market analysis and valuation on your home. J
Have a wonderful start to the festive season …