What Homeowners Need to Know About the Current Real Estate Market
When you’re considering selling your home, you’ll want to know what’s happening in the current real estate market. While it’s impossible to know what the future will bring, there are some statements that can be made with confidence about the short-term condition of the real estate market.
The Seller’s Market
Generally speaking, it is currently a seller’s market. That means there are more people trying to buy houses than sell them, and that leads to a shortage in supply. It means you’re in a great opportunity to make money selling your home right now, and negotiations are going to favor you.
There is a caveat to this, though. If you’re looking to sell your house in order to buy a new place, you’ll face a seller’s market when it’s your turn to buy. It’s important to keep that in mind before you make hard commitments. Know your plan and then look to sell. On the plus side, interest rates are extremely low, making this a great opportunity for buyers because the majority of the money put into the house will go into the house itself rather than interest rates. It also means buyers can lock in a fixed low-interest rate for the entire duration of their mortgage.
Volatility and Unpredictability
Things are hot right now, but you cannot expect that to last forever. The housing market is never entirely stable. Really, no sector in the economy is ever completely stable. The pandemic has affected different areas in different ways. But the instability means that trends can flip on a dime.
What does that mean for you? If you wait, will the market be better or worse?
Your individual situation will help make your decision. Are you selling your home and buying another? Run the numbers. You can use an online calculator to see what you’d be risking if the interest rates go up or if home sale prices go down. Let that guide your decision. You may decide that selling now is a better option.
The bottom line is that markets change. If the calculations you’re seeing fit your budget the way you’d like, then get busy. Conditions could end up better down the road, but they also might be worse.
Adding Certainty to the Equation
Even though housing markets are volatile, there are some things you can trust. One of those is that there are buyers who want to make an offer on your home. No matter the condition or reason you are selling, you can get an offer.
That’s the story with Frank Buys Houses. It’s an investing group that buys properties of all kinds. If you want a sure sale that simplifies the process and aims to put money in your hand, fill out our contact form. We do all of the work, so all you have to do is think about what you want next. There are no repairs to the home needed, no waiting for showings, or for buyers to get a loan. Frank Buys Houses pays you in cash for your home as-is, and they can buy your home in a matter of days. If you’re ready to pull the trigger, let us make an offer for your home today. Contact Frank Buys Houses online or by phone at 209-650-3110.