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4 Reasons Why Homeowners Should Sell NOW!
Dated: May 11 2021
If you’ve been contemplating putting your home up for sale, now is a great time to make the move.
Why is now a good time to sell? Read on to find out four reasons why it’s an excellent time to put your home on the market.
First off, sellers have leverage.
There has been a slew of interested buyers flooding the market, looking to purchase a home while the historically low mortgage rates last. This is driving up home prices on the market because the supply is limited, and the demand is high.
According to the Denver Metro Association of Realtors, year over year appreciation in March 2021 was at 15.26 percent, up from $511,511 to $589,587.
Less time on the market
Selling in the current market has another plus – it means that you’ll likely spend less time in limbo waiting for a buyer for your home.
Buyers need to act fast in the current conditions – a report from the Denver Metro Association of Realtors shows that theoretically, if a buyer waited one month to purchase a property from February to the end of March, a home at $500,000 would end up costing them $35,000 more. So, potential buyers looking at your home have incentive to act fast to save money on the purchase price. Why is that?
Bidding wars are at an all-time high
This isn’t so nice if you’re out trying to find your dream home, but it is beneficial to you as a seller. Bidding wars drive up prices, meaning you’ll be able to make more of a profit when you do sell your home.
Lack of inventory
In the current housing market, there’s a lack of homes available for sale when compared with the number of interested buyers. The number of detached listings barely kept pace with the number of pending sales in March of this year. According to the Denver Metro Association of Realtors, detached listings were at 402, and sales topped out at 399. That means when you do put your home up, you’re more likely to get multiple buyers that are interested. This is also beneficial because buyers may choose to overlook issues with the home that they normally wouldn’t, choosing to purchase and fix up later on.
Contact me to get started
If you’re interested in taking advantage of the current situation and putting your home on the market, contact me to get started. Now is even more important to hire the help of a professional, so you can ensure that you’re receiving a fair price for your home that reflects the current market conditions.
Alternatively, if you’re looking to purchase a house in this competitive market, I would love to help you find your dream home! I know the area well having lived in Northern Colorado most of my life, and I can help make the selling or buying process as smooth and stress free as possible.
Contact me today to find out more and get started on this exciting journey: 303-709-7814.
Raised in the Longmont/Berthoud area, I've lived in Northern Colorado most of my life. I graduated from CSU with a Psychology degree and after raising 2 girls, got my license in 2012. I play hockey on....