Oftentimes, many homeowners receive a lower profit on their home because they sold at the wrong time. Yes, timing matters in the real estate market. If you want to gain more profit, you should be observant of the real estate market’s movement.
Perhaps, you’ve heard all about the buzz in the real estate market. Are homes for sale running low? Are prices going up or down? Is this the perfect time to sell?
Alexis Nickley of Orlando’s top realtor agency, The Nickley Group, says that now is the perfect time to sell, and here are the reasons why:
1. There is a Low Inventory of Homes
Statistics show that around 1,000 people are moving to Florida every single day, and all of these people are looking for homes. With that, homes are selling very quickly, and the inventory of houses is running low.
“Your home is like the last PS5 in Walmart, and it’s Christmas time. What happens is you’re going to list your home on the market, and it’s literally going to sell quickly.“
This scenario puts sellers in a challenging position. With a record-high demand in the market, many homeowners are faced with multiple offer situations. Moreover, many buyers are waiving appraisal contingencies.
2. Buyers Agree to Pay at Appraised Value
The appraised value of a property is its current value at a given point in time. In the real estate market, the appraised value plays a major role in setting prices. However, now that most buyers waive appraisal contingencies, the appraised value is already becoming the purchase price.
“When this happens, it causes an increase in all of the prices in the area.”
Hence, this period is the best time for you to sell due to the competitive market.
3. Extremely Low Interest Rates
You’re planning to sell your home. With a favorable real estate market today, you can sell it at top dollar. But, you’ll be a home buyer once you sell your house. Since you were able to sell your old home at an amazing profit, you’ll be able to buy your dream home and have an affordable interest rate.
“I can personally vouch for that. I bought a home in 2019. In 2020, we saw our dream home. We knew that we could sell our home for top dollar, so we were able to purchase that dream home. And now we have an amazing interest rate too.”
The real estate market is now at its most favorable for sellers. If you’re thinking about selling now, you need to have experienced real estate agents who can sell it at top dollar. Whether this plan is under consideration or already a go, reach out to us at The Nickley Group and let our team help you get the most out of your home.
Visit us at our office today at 1013 E. Colonial Dr. Orlando, FL 32803, or give us a call at 407.906.2456 to get started.