People list a home for sale for many reasons – a job change, retirement, or the desire for a larger or smaller home – just to name a few. But, with the inventory of homes at its lowest point in years, many homeowners are reluctant to sell due to fear that they won’t find a new home to purchase. While this is a valid concern, here are just a few reasons to list your home now and consider selling.
- Less Competition
With fewer homes available for sale, you won’t have to work as hard to make your home stand out.
- More Potential Buyers
Rising incomes, low mortgage rates, and millennials who are beginning to settle down and start families are prompting many first-time buyers to enter the market.
- Negotiating Power
And while the word “negotiation,” may make you think of sales price, there’s actually quite a bit to be negotiated on, including seller concessions, closing costs, inspections and repairs, closing dates, personal property…and the list goes on. With all these factors to consider, listing your home in a low-inventory market has many added benefits.
- Chance to Cash-Out For a Sizable Profit
High demand and low inventory are helping to drive up home prices, with much of the country seeing double-digit increases over the past year.
- Greater Opportunity For a Quick Sale
In the current low-inventory environment, buyers must act fast when they find a home they like. This has resulted in many listings receiving multiple offers as soon as they hit the market.
Source: First American Title
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