Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize, there are certain benefits in today’s housing jungle that are powering big moves for people across the country.
The industry may see many trends, but these two are at the top of the list:
The Biggest Benefits for Buyers: Low Mortgage Rates
Today’s most compelling buyer incentive is low mortgage interest rates.
Buyers beware, the old adage of what goes down must come up still applies. While low mortgage rates are a plus for buyers right now, moving at the speed of a sloth will get your nowhere. If you’re still on the fence about buying a home get off it: the best time to buy real estate will always be yesterday.
The Biggest Benefits for Sellers: Low Inventory
The lack of houses for sale continues to challenge the market, and with low mortgage rates fueling buyer demand, homes are hard for buyers to find today.
Buyers suffering from F.O.M.O. are over-eager to purchase and often fall into the bidding war trap. Which means dinner for you. And, sellers have even more leverage in the negotiation process, adding fuel to the already burning fire.
Homeowners in a position to sell shouldn’t wait to make their move. With low inventory and high buyer demand, they can potentially earn a great profit on their houses, selling them quickly in the fast-paced spring market.
What You Need to Know
Whether you’re thinking of buying or selling a home, there are major perks available in today’s housing market. Contact a trusted real estate professional to discuss how these favorable conditions play to your advantage in your local area.