Here’s why 2021 is a great year for buyers and sellers.
Whether you’re a buyer or seller in our market, I have great news: 2021 is a great year to accomplish either or both transactions.
This is a great time to sell because we’ll probably never see this type of seller’s market again. For every home that hits the market, there are about 10 to 15 buyers ready to jump on it. You’ll get offers quickly, for over asking price, and buyers won’t ask you to cover closing costs or to make any repairs. They’ll just be happy for the opportunity to buy your house. If you have multiple properties you’ve been thinking about selling, this market is particularly advantageous because, again, you’ll be getting peak prices. Once the market normalizes or tilts in the buyers’ favor, it’ll be too late—make sure you take advantage of our market now.
Now’s also a great time to buy because interest rates are super low. I have to warn you, though—it’s also a difficult time to be a buyer. As I mentioned above, for every home you make an offer on, there will be 10 to 15 other offers in the mix, so you’ll have a lot of competition. Some of these offers will be all-cash offers as well, which will make it even more difficult for you to get a home under contract. You need to have a lot of patience and be committed to the buying process.
“Make sure you take advantage of our market now.”
I promise you that you’ll eventually find a great home—just not the first time you make an offer (probably). Due to the competition, your offer must be strong, and there are several things you can do to become a better buyer in the eyes of sellers. I’ve shared many tips on how to be a stronger buyer in previous videos, so be sure to check them out before you enter the market.
If you own a home but don’t want to sell, you can still take advantage of this market by refinancing your home or taking some equity out of it and buying an investment property. These super low interest rates have encouraged millions of families to do both of these things, so let me know if you have questions about either scenario.
As always, if you have questions about our market or there’s anything else I can help you with, don’t hesitate to reach out to me. I look forward to hearing from you.
