Realtors always think it’s a good time to buy or sell your house. That’s how we make money, right? But there are some real reasons right now why it’s a good time to buy or sell a home. Here are a few to consider.
- For everyone: interest rates are low. It’s no secret that the Fed really, really wants to raise interest rates. It’s unclear when they will, but it is very likely to happen, and odds are mortgage rates will be going up before year-end. Even a slight increase in rates will mean literally tens of thousands of dollars added to your debt over the course of 30 year loan.
- For sellers: inventory is low. It’s very hard to find a home right now, and that means it’s a great time to sell. Many areas are seeing homes sell within days of going on the market. I saw a home recently that sold for over $30,000 more than list price to a cash buyer with no contingencies! So yeah – sell, sell, sell.
- For buyers: sellers are into renovations. A few years ago, the words “as is, where is” were in vogue. In other words, sellers weren’t making repairs and were listing homes in whatever (bad) condition they were in without representing what might be wrong with them. Today? Many homes are hitting the market after the sellers have put a ton of repairs and renovations into them – granite counter tops, renovated kitchens, new fixtures, refinished floors, etc. This market is a great time to get a home that already has all the upgrades you want.
- For everyone in the Upstate – don’t worry about a “bubble.” Listen, this isn’t investing advice, so don’t take it that way. But my personal opinion is that those of us in the Upstate (especially, Greenville, Greer, Taylors, Travelers Rest, and the immediate surrounding areas) are not experiencing a dreaded housing “bubble.” I can’t speak to the rest of the US, but many people from outside the Upstate want to move to the Upstate, and that influx is going to drive housing shortages (and home value increases) in our area for the foreseeable future. We may hit a bump in the road here or there, but overall, I expect the housing market around here to remain bullish.
Thinking about buying or selling a home? Shoot me a line to my email. I’d love to be your real estate agent.
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