It’s Go Time: 4 Reasons Why You Should Sell Right Now

Have you been on the fence about selling your home because of the pandemic? It’s certainly understandable to want to wait to list your home. After all, we’re also in the midst of an economic downturn and record levels of unemployment. But here’s the amazing thing — this is the best time to sell in years. Highly motivated buyers are flooding the market, and your home could be just what they’re looking for. If you’re still unconvinced, then here are four reasons why you should sell right now.

Buyers are flooding the market

Millions of Americans have felt cooped up as a result of the lockdown. And when you can’t leave a space that was too small to begin with, it’s strong motivation to find a bigger place to live. Urbanites are decamping from dense city centers to the suburbs. Many who are now learning or working from home need more space. And buyers who decided to put off their home search early this spring are back in the game. We’ve discovered over the last few months just how important our homes are. As a result, buyers are flooding the market to find better places to live.

There’s a serious shortage of homes on the market

It’s not that surprising that many home sellers decided to pull their listings during the pandemic. Who wants potentially contagious strangers walking through their homes at a time like this? This has led to a serious shortage of inventory. Unfortunately, the market was already experiencing a housing shortage before the pandemic began, and the virus just made it worse. In addition, there aren’t as many distressed homes on the market because of the federal stimulus plans like mortgage forbearance or extended unemployment benefits. Those who may have been in danger of losing their homes have been able to get relief. While the shortage of inventory is bad news for buyers, it’s excellent news for sellers. When there are fewer homes for sale, there’s much less competition. This means you’re more likely to sell quickly and for a great price.

Home prices are rising

High demand paired with low inventory is the one-two punch for housing prices. Even though it seems counterintuitive at a time like this, housing prices have remained strong. Some areas have even seen an increase in housing prices. Sellers are discovering that they can sell their homes for top dollar. Some are even experiencing bidding wars, which can drive the offers up over asking price. The National Association of Realtors reports that median home prices have increased by 7.7 percent. If you hesitated to sell because you thought you wouldn’t get a good price, then it’s time to set those fears aside. You have a great opportunity to make an enviable return on your investment.

Interest rates are at record lows

You’ve no doubt heard this in the news. Interest rates for mortgages are at all-time lows. Buyers with excellent credit can score a loan for under three percent right now. These low interest rates help to offset higher asking prices, and can ultimately save homebuyers thousands of dollars over the life of the loan. And lenders have become more strict with their lending practices, meaning that those buyers who have been pre-approved for a mortgage should have a good chance of ultimately qualifying for their loans. That makes it less risky for you as a seller.

Talk to Agent inc.

The bottom line is — now is a great time to sell. If you’re ready to have a conversation about putting your home on the market, then contact the experts at Agent inc. at 949-791-8160 or [email protected]. Are you ready to open your world to new possibilities?

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