Holy guacamole, this market waits for no one! Immediately after January 1, things picked up and have been utter chaos. One of my Sellers received a cash offer with a 2 week close (closed in January) for $75k over list price for their home that sat ON A BUSY ROAD a few weeks ago. Another one of my Sellers in Aurora received an offer that just closed today for $47k over the list price with great terms.
Why is it chaos? Increasing interest rates have resulted in a frenzy of buyers coming into the already buyer saturated market. These buyers have been met with our continued historically low inventory levels. In short, demand has increased and supply continues to go down. So what does that mean for you?
Sellers
Get to market prior to Memorial Day weekend to see amazing results in your bottom line profit. Still take the time to properly market your property with staging, photography, cleaning and repairs (you'll see the highest return on investment if you do). But, don't drag your feet until summer if you're hoping to get a unicorn offer like you've been hearing about from your friends who are selling.
Are you caught up on how to buy in this market and still get top dollar from the sale of your property? Call me. I have solutions to help you.
Buyers
This one is trickier to make a recommendation with a blanket statement, so reach out if you want to chat. Here's the quick and dirty:
Not time constrained people with plenty of money: Wait until the summer or fall.
Not time constrained people tight on money: Chat with your lender to see if the impacts of waiting make sense with your monthly payment and the rising rates. If the money doesn't make sense, pull the trigger now.
Time constrained people: Call me. I have incredible lenders and strategies to get you into a home while limiting your risk as much as possible. But, maybe also pick yourself up a case of wine to cope through the process because it's going to be a wild ride.
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