These are some of the hidden advantages in the market for sellers.
If you still need to sell your home, don’t despair. As odd as this market is right now, there are still some amazing opportunities for homeowners. Let’s talk about that today.
Even though we’re not in the crazy real estate market we were in a couple of years ago, there still are not enough houses on the market, so we’re nowhere near a buyer’s market yet. If you’re thinking of selling, there are three things right now in the market that are to your advantage.
1. Assumable loans. These loans allow a new buyer to take over your loan if they qualify for it, keeping your terms, and then pay you your equity in cash. The advantage is that they may choose your home over another one to take advantage of your low interest rate.
2. Multiple offers. Although not on every property as in previous years, we’re still seeing some multiple offers when homes are in great condition.
3.Days on market have increased. Homes are staying longer in the market, but not significantly. For example, in my area, our days on market are up 57%, but it’s gone from 14 days to 22 days, so it’s not as alarming as the national media makes it sound.
The bottom line is that you should take advantage of every opportunity you can get. Don’t rely on mainstream media for your real estate news; talk to a local expert who understands your specific submarket. If you have any questions about the market or need help with your real estate needs, call or email me. I’m always happy to help.