Published March 3, 2022
3 Reasons to Sell Now
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The market is changing, what does that mean?
Spring 2022 is bringing about big shifts in the real estate business. This, on the tail of the economic variations that began in 2020 which caused droves of buyers to jump into the market. Here are 3 reasons why right now may be the best opportunity to net a big profit selling your home.
#1 Buyer Demand
Buyer demand is still incredibly high. Most of the homes listed in our Duluth office are on the market for less than 2 days! Why does this matter? Well, the option to choose the offer that best fits your needs is priceless, and there are many benefits to a faster closing date! Buyers in this competitive sellers-market are willing to pay top dollar for the properties they want. That said, the number of buyers will soon change...
#2 Interest Rates Changing
Historically low interest rates arose in 2020 and jump started the home buying frenzy. With the influx of buyers also came increases in home prices. Its been a sellers-market ever since. Unfortunately, those low interest rates will likely never be seen again and although they are still low (currently around 4.25%) they are subject to rise at least 3 more times by years end. This will drastically decrease the number of people looking to purchase homes. The smaller the buyer pool gets, the more we shift to a buyers-market which means less profit for sellers in the near future.
#3 Cash Buyers
The uncertainty within the economy has created an abundance of cash buyers. Selling to cash buyers has huge advantages. Benefits include but are not limited to; more flexibility, no waiting for loan approvals, higher sale security, lower costs, and faster closings.
If you were waiting for a sign to get your house on the market - this is it!
If you are curious what your home is worth you can use our complimentary home valuation tool @biglifeteam.com/homevalue . If you have any questions about buying, selling, market changes, or investing in real estate contact us-we are happy to help
Visit our website biglifeteam.com
Call us at 218-245-4658
or 218-320- 1550
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