The real estate market in 2021 is hot. According to the National Association of Realtors, more than 5.8 million units sold in August of 2021. Should you be one of those people?
Sometimes, deciding whether to sell your home is challenging because of your family, job, and lifestyle. However, thanks to the real estate market, it’s a pretty easy decision.
Here are several reasons why now is the best time to sell your home.
The Time to Sell Is Now Thanks to Multiple Offers
Talk with any real estate agent, and they will tell you sellers are getting a premium for their home price. When you sell your house, you will get multiple offers. It’s a simple case of supply and demand.
When multiple buyers compete for your house, the price will rise. If you put your home on the market for $300,000 and you receive multiple offers, you’ll get above the asking price for the house.
The Simien Team can help you get the highest price when you decide to sell your house. If you are looking to sell now, you’ll need a qualified and successful real estate team.
Low housing inventory is one of the biggest reasons the real estate market in 2021 is hot, and homes are selling at a premium price.
The pandemic, combined with supply chain issues, means builders are building fewer new homes. Materials and equipment are tough to come by, and buyers are looking at rehabbing or remodeling existing homes after their purchase. In essence, it’s cheaper to buy an existing home than it is to purchase new construction.
People are also staying in their homes longer. With fewer people selling and moving, it means there are fewer homes in the real estate market.
Throughout the country, buyers know they can get a low-interest rate on a mortgage. Interest rates are at all-time lows. Buyers can afford ‘more house’ when interest rates are lower.
Many buyers also fear that interest rates can change at a moment’s notice, and they could be locked out of buying a new home. As the nation eases out of the coronavirus pandemic, there is speculation interest rates could rise.
Aside from banks, many online lenders are offering great interest rates. When there is more competition, the rates will decrease. Many buyers looking at the real estate market know they will benefit.
A slight change in interest rates can mean thousands of dollars over the life of the mortgage. If you want to sell your house, you can take advantage of buyers looking to seize on the homeownership opportunity.
Now Is the Time to Sell
With a red hot real estate market, now is the time to sell. Sellers will find they will get multiple offers thanks in part to a low housing inventory. On the other hand, buyers know they can get more house for their money thanks to low-interest rates.
Take advantage of these real estate market conditions and sell now!
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