Welcome to the height of the real estate market…the time when most real estate transactions take place. This is when lenders are busy and real estate agents work late evenings showing houses, and more houses, and more houses. Except for one small hiccup…there is still not enough inventory. The question is why not?
At first it was “the banks are holding the inventory.” Then it was “short sales are taking forever to close.” Well I can tell you in our market the majority of the sellers are now people with equity or investors doing flips. So, no more blaming the banks, now we have to look at our market and help bring it back to life.
I showed a house a couple days ago in Edgewater. It was priced right and showed okay. Within 5 hours of being on the market it had 2 offers and the agent was expecting at least 1 more. This continues to be more of the norm versus the exception. For buyers this can be a frustrating experience, but for sellers it’s a great time to sell.
At this point I was going to list a bunch of statistics about the market, but I got bored just thinking about it. What I will tell you is if you are even considering selling a property, you need to contact us, so we can determine if it is the right time. One thing to remember is our market is getting better and there are home owners have gained value, but maybe not enough equity to sell and make a profit. The best way to determine this is to contact me and let me do the work.
We’ve helped several clients, some who are reading this article now, make the decision to hold off from selling a couple years ago who have made a nice profit by selling this year. We work for you and our goal is to provide you the best advice, so you can make a sound decision.