Thinking About Buying or Selling?

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After 2007 it got a little rough in the real estate market. Inventory was way up because of all the foreclosed and distressed homes on the market, so with supply up, prices inevitably went down. Fast forward to today. It’s a different story because there’s nothing but improvements across the board. Sales are up, inventory is down, and it’s taking less time to sell homes. There are two things you need to know as to why now is a great time to buy and sell. First, buyers are enjoying low interest rates, and banks are finally lending once again. Many first-time home buyers are eager to lock in low rates on 30-year mortgages. On the other hand, sellers are enjoying a market that is ripe for the opportunity. So what does this mean for the buyer and seller?

If you’ve thought of selling your home, the time is now. Since there are fewer homes on the market, there’s more competition for available homes. Low inventory often translates into multiple bids for homes in good condition, high list-to-sale price ratios and being able to negotiate better terms. It’s a great time for sellers. 

So when selling your home, if you want to get top dollar for your property, take advantage of the low inventory. Here’s the thing: supply and demand affect what you’ll get for your home. When everyone who has been thinking about selling their home puts their home on the market is not the time to dive in—if you want to get the most out of your home. At the end of the day, you have a better chance at success if you decide to sell now, instead of waiting until all the Joneses get into the market.

If you’re in the market to buy a home, be aggressive. When a home that you’re interested in hits the market, plan to see it as soon as possible and make the best possible offer that’s at an appropriate price point for the seller. Remember, inventory is low. If you hesitate, the property could be gone because others will be making offers.

Right now, buyers can afford more of a home because of low interest rates. Interest rates are still below 4% with some as low as 3% with a 15- or 20-year fixed-rate mortgage. Keep in mind that mortgage bankers are eager to lend. When interest rates rise, you could get locked into spending a few hundred extra dollars a month on your payment. So why wait?

We can tell you where to be positioned and how to be successful in the market. Get ahead of the rush and give us a call (407) 956-6165.  We’d be happy to assist you.