Should You Sell in a Seller’s Market?
With the hot real estate market, locally and nationally, many homeowners are thinking of selling their home, but is it the right time?
Limited inventory homeowners are listing their homes and receiving multiple offers at their asking price.
Many sellers are experiencing quick sells but aren’t prepared to buy their next home. Rising interest rates are being squeezed some buyers out of the market. Others are experiencing a windfall and aren’t ready to let go of the sudden money. While most will buy again, some want to rent for a while. Other sellers plan on traveling and purchase a motor home or travel trailer. Sellers should determine what they plan on doing once there home is sold before it is sold.
If the seller plans on renting after the sale, they should be ready for sticker shock. The rental market has changed dramatically in the last few years.
When considering a motor home or travel trailer, you must have some place to park it when you aren’t traveling. Check with local codes to determine if you can park a motor home or travel trailer on the property before you purchase.
Some sellers are selling to downsize and plan on paying cash. This may be a difficult with shortage of property in all price ranges.
It is a great time to sell, but have your plan in mind and do your homework, or better yet, hire a local realtor to guide you from beginning to end in the selling and buying process.