In today’s real estate market, homeowners have an excellent chance to sell their home and obtain the best terms possible. This is due to the restricted amount of available homes for sale, which creates competition among buyers. Currently, homebuyers would like three things:
These buyer requirements provide you with a tremendous advantage – also known as leverage – when selling.
What Does This Mean for Sellers Today?
You may already be aware that this allows you to sell at a good price, but it also puts you in an excellent position to negotiate the best terms to suit your needs.
According to the National Association of Realtors’ (NAR) 2017 Realtors Confidence Index, the typical house sold receives 4.8 offers. As a result, there’s a strong possibility you’ll get offers from many buyers eager to compete for your home. When you do, you should carefully examine the details of each offer to determine which one has the best options for you.
And, if you have any questions along the way, remember that your experienced real estate expert can assist you. They are professionals who understand the tiny print, can assess the conditions of several offers, and can assist you in selecting the ideal one for your situation.
Bottom Line
If you’re considering selling your house, know that buyer demand in today’s market provides you a wonderful opportunity to secure the best terms and price. Contact a real estate agent immediately to learn how much leverage you have as a seller in today’s market.
Source: https://www.keepingcurrentmatters.com/
Image by [Tinnakorn Jorruang, www.istockphoto.com].
ATTOM: Despite remaining at record highs, profit margins on median-priced single-family home sales declined to 47.2% in the first quarter of 2022, from 51.6% in the fourth quarter of 2021.
IRVINE, Calif. — Home prices continue to rise, but seller profits may be decreasing from recent highs. However, most sellers continue to make big profits, and earnings are currently at historical highs.
In the first quarter, profit margins on median-priced single-family home sales in the United States plummeted to 47.2%. According to a recent analysis provided by ATTOM Data Solutions, it was the first quarterly fall since late 2019 and the largest in a decade. The profit margin in the first quarter was down from 51.6% in the fourth quarter of 2021.
However, profit margins — the percentage difference between median purchase and resale prices – frequently fall during the slower winter home buying seasons. However, the most recent drop of more than four percentage points was bigger than usual.
“Home prices simply cannot continue to rise at the rate they have in recent years,” says Rick Sharga, executive vice president of market intelligence at ATTOM. “The combination of increased prices, rising mortgage rates, and the greatest rates of inflation in 40 years may be pricing some prospective buyers out of the market, implying that sales figures may begin to fall.” Finally, as price decreases, price growth should slow down.”
Santa Barbara, California (margin down from 72.9% in the fourth quarter of 2021 to 45.8% in the first quarter of 2022); Boise, Idaho (down from 110.4% to 88.8%); Brownsville, Texas (down from 54.3% to 38.1%); St. Louis (down from 37.6% to 23.9%); and Des Moines, Iowa (down from 37.6% to 23.9%) (down from 48.1% to 35.2%).
Other early signals of normalization have emerged in the real estate market. Contract signings fell in March, the fifth consecutive month that pending home sales fell, according to the National Association of Realtors®.
Source: “Home Sales, Seller Profits Dip Across U.S. in First Quarter of 2022 as Price Increases Slow,” ATTOM Data Solutions (April 27, 2022)
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