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The past two years have been crazy due to the pandemic and its effect on the economy. Prices of goods and services have increased, and some supplies are in short supply. As crazy as everything around us has been, real estate sales have been crazy as well. Residential markets are at all-time highs, and new home construction continues despite the higher costs of building materials. Now it’s time to consider to Sell Your Property.
Interest rates have been historically low for the past 12-18 months but have begun to rise recently. These rates affect cost-conscientious shoppers, and for a good reason. They can make a significant impact on a mortgage’s monthly payment. Therefore, now is a good time to sell your property before the pool of buyers shrinks due to even higher interest rates.
Lower interest rates and higher building material costs have led to reduced inventory in the nation’s hottest real estate markets. The lack of inventory has led to bidding wars on many homes listed for sale, which greatly benefits to sellers. In January of this year, over 40% of homes sold above the asking price.
Another reason now is a good time to sell your property is existing properties are only spending about 18 days on the market, according to The National Association of Realtors. Keep in mind that this is the national average. In some markets, homes are selling in less than two weeks.
If you are located in a hot real estate market, now is a good time to sell your property.
Homeowners’ needs change as their lives change. In the past, these needs included everyday life events such as a growing family, which requires larger spaces, or downsizing due to becoming empty-nesters. However, more people have begun working from home the past two years. This has created a need for larger spaces to serve as home offices.
If you own a property with more space than you need, now is a good time to consider selling.
As you have learned, the real estate market is currently a seller’s market in some regions. This forces buyers to make offers above asking prices instead of negotiating for a lower price. There is no way of knowing just how long this trend will continue. If you are considering selling your property, now is a good time to decide to sell.
The Condo Buyers is ready to purchase your property. We have been in the real estate industry for many years and understand the current trends. We know that real estate markets, interest rates, and personal circumstances change.
When you sell to us, we both win. You don’t have to worry about the condition of your property, delays, or expenses. We’ll buy your condo, townhouse, apartment, loft, or flat just like it is and pay you with cash in just a few days.
All you have to do is pick the closing date, and we will take care of the rest. The selling process only takes a few days when you sell to us.