In such an unusual year, many of you are still trying to figure out if now is the right time to make a move. I’d like to share with you a couple of the sentiments that I’ve been hearing amongst my agent network for buyers who are sitting on the sidelines or sellers who are waiting to list.
1. Selling in a seller's market means you may get a whopping return on your home! If you list now, you might get more per square foot for your home like my recent sale for 10109 Devereux which was a record-breaking sale in 78733 with five over-asking (three of them all cash) offers in two days and 900 Garden Villa which sold for a staggering 400K over list price.
2. Active buyers are more serious than ever before. People have spent the last year realizing the inadequacies of their home. The buyers who are looking right now, post-Covid-19, are very motivated to get a transaction done and take advantage of the historically low mortgage rates.
3. Price so that the market chases you up, not down. Pricing correctly can lead to multiple offers and drive your home gains up.
4. We don’t know what the future holds. Don’t take this buyer demand for granted. This unprecedented year is far from over — the ongoing pandemic could affect real estate activity again, making it harder to sell. And if your home may require some home improvement services to shine, it’s time to take advantage of this moment when we know that contractors are still allowed inside the home.
1. It's likely prices will go up because of inflation. After an unprecedented government stimulus, expect inflation sooner or later. Investing in real estate is a great hedge against that.
2. Interest rates are at historic lows — but don’t take that for granted. Requirements and rates will worsen at some point.
3. There’s real value in comfort and security right now. What matters more to you: trying to time the bottom of the market, or finding the right home that’ll make you and your family feel comfortable and safe during this time?
4. Try to avoid the “wait and see” mentality. Nobody buys at the bottom — and knows it. Focus on quality as your priority: the best deal on the best match that meets your needs for years to come.
As always, if you'd like a more tailored look at how the market is playing out in your neighborhood, just let me know.