How to Take Advantage of the Housing Market While it’s Hot
In the current housing market, it’s common to hear phrases like “the market is hot” and “now is the time to act,” but what exactly does that mean? Is this a good market for buyers or sellers? How do you make the most of the current housing market and cash in on different opportunities?
If these questions have been on your mind recently, great! We have the answers. Whether you are a buyer, seller or both, here are our top tips and tricks to help you take advantage of the housing market while it’s hot.
If You’re a Seller:
Make the Most of Low Inventory in the Housing Market
If you are thinking about selling your home, now is the time. With the shortage of inventory, we are steadily in a strong seller’s market. The lack of homes available means more buyers are having to compete against each other for the same home. Take advantage of this opportunity, as competition often means multiple offers, bidding wars and the ability to sell your home quickly.
With the increase in competition among buyers offer comes over-asking price offers, leading to more money in your pocket. If you need to sell before you buy, making a profit on your current home will put you in a great position to buy in this competitive market.
Warmer Weather Means More Buyers
Climate plays a big role in the housing market. The best time to sell is traditionally during the summer, while the weather is warm and no one is limited by winter conditions. Additionally, most buyers are more focused on spending time with their families around the holidays. If you’re thinking about selling, take advantage of the last few months of warm weather while people want to be out touring homes before the hustle and bustle of the holidays begins.
If You’re a Buyer:
Mortgage Rates are Still Low
Analysts continue to see more and more potential homebuyers submit mortgage applications, however there is only a slight increase in mortgage rates, and rates are still very low. This is important for potential homebuyers. If you are considering buying a home, now may be the best time to act in order to take advantage of the costs you can save in interest. A market shift can occur quickly and interest rates can spike.
Buyer Demand is Decreasing
As we move into fall, we are seeing less competition and inventory slowly increasing. Buyers will start to see a slight cooling in the seller’s market and increased opportunity as more homes become available. If you’re considering buying, now is a great time to start looking, as you will begin to see more homes become available over the next few months.
Mark Spain Real Estate strives to be the most knowledgeable in the housing markets! We take pride in being named the most trusted real estate firm in the industry. We take time in strengthening our knowledge of technology, real estate, and self improvement to feed our drive of continuously learning and growing!
Our team prepares many training activities, podcasts, and books to aid us in our ever-growing need to learn and grow. One of our core values is to continuously learn and grow, which is one way we have set ourselves apart. We strive to lead with a servant’s heart and exemplify this is all that we do while delivering an unparalleled experience to the housing markets we serve!
Ready to take the leap and make that big move? We’d love to help. Visit our website to get in contact with our team today.