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Why Right Now May Be the Time to Sell Your House

Why Right Now May Be the Time to Sell Your House | Simplifying The Market

The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows.

According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is incredibly strong. That’s not the case, however, on the supply side. Seller traffic is simply not keeping up. Here’s a breakdown by state:Why Right Now May Be the Time to Sell Your House | Simplifying The MarketAs the maps show, buyer traffic is high, but seller traffic is low. With so few homes for sale right now, record-low inventory is creating a mismatch between supply and demand.

NAR also just reported that the actual number of homes currently for sale stands at 1.28 million, down 22% from one year ago (1.64 million). Additionally, inventory is at an all-time low with 2.3 months supply available at the current sales pace. In a normal market, that number would be 6.0 months of inventory – significantly higher than it is today.

What does this mean for buyers and sellers?

Buyers need to remain patient in the search process. At the same time, they must be ready to act immediately once they find the right home since bidding wars are more common when so few houses are available for sale.

Sellers may not want to wait until spring to put their houses on the market, though. With such high buyer demand and such a low supply, now is the perfect time to sell a house on optimal terms.

Bottom Line

The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.


Source: KMC

Posted in: For Buyers, For Sellers, Housing Market Updates, Interest Rates Tagged: Real Estate

© Margo Borkin Real Estate 2010

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Margo Borkin Real Estate
5 hours ago
Margo Borkin Real Estate
Planning to sell soon? Hit a HOME run as as a seller by avoiding these seller strikeouts. ⁣
⁣
• Don’t take low offers personally. ⁣
• Don’t overprice your home "just to see" if anyone will bite".
• Don't underestimate the importance of listing photos.⁣
• Don't hide major issues from your agent.⁣
• Don’t hang around during showings or leave pets roaming around.⁣
• Don’t hide your thoughts from your agent.⁣
⁣
Selling a home is incredibly exciting and sometimes stressful. Hiring an agent to guide you through the entire process is the right choice if you want to actually ENJOY selling your home.⁣
⁣
Was this info helpful? Tag someone who needs to see this!⁣

#oaklandcountymichigan #oaklandcountyrealestate #oaklandcountymi #oaklandcounty
... See MoreSee Less
Planning to sell soon? Hit a HOME run as as a seller by avoiding these seller strikeouts. ⁣
⁣
• Don’t take low offers personally. ⁣
• Don’t overprice your home just to see if anyone will bite.
• Dont underestimate the importance of listing photos.⁣
• Dont hide major issues from your agent.⁣
• Don’t hang around during showings or leave pets roaming around.⁣
• Don’t hide your thoughts from your agent.⁣
⁣
Selling a home is incredibly exciting and sometimes stressful. Hiring an agent to guide you through the entire process is the right choice if you want to actually ENJOY selling your home.⁣
⁣
Was this info helpful? Tag someone who needs to see this!⁣

#oaklandcountymichigan #oaklandcountyrealestate #oaklandcountymi #oaklandcounty
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Margo Borkin Real Estate
3 days ago
Margo Borkin Real Estate
It's the question every homeowner asks at one point or another: Should I sell or should I remodel? Here are a few questions to ask as you make the king-size decision.⁣
⁣
First up, Team Remodeling: ⁣
• Do I love my current home's location? ⁣
• Do I have space (inside and out) for an addition?⁣
• Will remodeling address my biggest concerns about my home? ⁣
• Do I have a place to temporarily move during the remodel (or the patience of a saint to live in an "under construction" house)?⁣
A YES to most of the above means remodeling is probably in your future.⁣
⁣
Next up, Team Time-to-Move:⁣
• Do you anticipate needing more space than a remodel can provide in the next 5 years? (more bedrooms, bathrooms, etc.)⁣
• Will remodeling put your home above neighborhood value?⁣
• Would you prefer a home that's closer to your everyday places (work, school, shopping) or do you desire a different school district or a larger lot?⁣

Resonate with these questions? Find a realtor and at the very least, take a look at what's on the market. Sometimes moving in one direction is just what you need to clarify your thinking.⁣
⁣
Whether you're leaning towards remodeling or moving, send me a message. I'd love to do a quick analysis on your neighborhood and give you the stats you need to go along with your intuition!

#oaklandcountymichigan #oaklandcountyrealestate #oaklandcountymi #oaklandcounty
#realestateexperts⁠
#iloverealestate⁠
#realestatexpert⁠
#realtorslife⁠
#realestateforsale⁠
#sellinghouses⁠
#realestateagent⁠
#realtorsofinstagram⁠
#realtorsofig⁠
#realestatelife⁠
#realtorsofinsta⁠
#instarealestate⁠
#realtorstyle⁠
#realestateblogger⁠
#realestateblog
... See MoreSee Less
Its the question every homeowner asks at one point or another: Should I sell or should I remodel? Here are a few questions to ask as you make the king-size decision.⁣
⁣
First up, Team Remodeling: ⁣
• Do I love my current homes location? ⁣
• Do I have space (inside and out) for an addition?⁣
• Will remodeling address my biggest concerns about my home? ⁣
• Do I have a place to temporarily move during the remodel (or the patience of a saint to live in an under construction house)?⁣
A YES to most of the above means remodeling is probably in your future.⁣
⁣
Next up, Team Time-to-Move:⁣
• Do you anticipate needing more space than a remodel can provide in the next 5 years? (more bedrooms, bathrooms, etc.)⁣
• Will remodeling put your home above neighborhood value?⁣
• Would you prefer a home thats closer to your everyday places (work, school, shopping) or do you desire a different school district or a larger lot?⁣

Resonate with these questions? Find a realtor and at the very least, take a look at whats on the market. Sometimes moving in one direction is just what you need to clarify your thinking.⁣
⁣
Whether youre leaning towards remodeling or moving, send me a message. Id love to do a quick analysis on your neighborhood and give you the stats you need to go along with your intuition!  

#oaklandcountymichigan #oaklandcountyrealestate #oaklandcountymi #oaklandcounty
#realestateexperts⁠
#iloverealestate⁠
#realestatexpert⁠
#realtorslife⁠
#realestateforsale⁠
#sellinghouses⁠
#realestateagent⁠
#realtorsofinstagram⁠
#realtorsofig⁠
#realestatelife⁠
#realtorsofinsta⁠
#instarealestate⁠
#realtorstyle⁠
#realestateblogger⁠
#realestateblog
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Margo Borkin Real Estate
3 days ago
Margo Borkin Real Estate
Our next FAF (Frequently Asked Friday) is often a source of confusion when buying a home. Let me clear it up once and for all!⁣
⁣
Q: Can you show me any house on the market or only the ones you have listed?⁣
⁣
A: Any licensed real estate agent (that’s me!) can show any home that’s listed for sale in the Multiple Listing Service (MLS)—not just the ones they have listed. ⁣We can also arrange showings with for sale by owner properties, and even "pocket listings" that may not be fully on the market yet.
⁣
So while you’ll see an agent’s name and brokerage firm on the listing, that agent isn’t the only one who can show the home. (In fact, it’s advantageous NOT to use the listing agent. As a buyer, you need a dedicated advocate all your own. Not one already looking out for the seller.)⁣
⁣
See a home you like and want to schedule a showing? Stop thinking about it and get inside it—send me a message and let’s go check it out!⁣
... See MoreSee Less
Our next FAF (Frequently Asked Friday) is often a source of confusion when buying a home. Let me clear it up once and for all!⁣
 ⁣
Q: Can you show me any house on the market or only the ones you have listed?⁣
 ⁣
A: Any licensed real estate agent (that’s me!) can show any home that’s listed for sale in the Multiple Listing Service (MLS)—not just the ones they have listed. ⁣We can also arrange showings with for sale by owner properties, and even pocket listings that may not be fully on the market yet. 
 ⁣
So while you’ll see an agent’s name and brokerage firm on the listing, that agent isn’t the only one who can show the home. (In fact, it’s advantageous NOT to use the listing agent. As a buyer, you need a dedicated advocate all your own. Not one already looking out for the seller.)⁣
 ⁣
See a home you like and want to schedule a showing? Stop thinking about it and get inside it—send me a message and let’s go check it out!⁣
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· Share
Share on Facebook Share on Twitter Share on Linked In Share by Email
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