It is the new year we had all been looking forward to! New year, new start for so many hopes, dreams, and ideas. After being in your home so much more than usual over the past “Covid Months”, you are thinking you need a different scene, it would be hard to blame you.
Interest rates are staying low as we head into the spring market which makes it a good time to buy. It also means that prices are up, so your home may be worth more than even a few months ago. Worth Exploring? Let us look closer.
Selling your home today = more buyers because interest rates are low. More buyers increase demand and drive prices higher, which works for you on the selling side of your consideration but may work against you in buying your next home. The price for you as a buyer may be higher than you would have seen in the past as well. There is also the pressure of how quickly homes are selling in some price ranges. The pressure requires you to be ready to go in and make an offer the same day you look in some cases. It may be that this seems like more hassle than it is worth. I will leave that determination to you, but if you have the desire to get into the market for a new home, there are some situations that put you at an advantage today. People who are looking to downsize or move into an apartment or condo to “snowbird”, now is the time to get the most for your home and since you would likely buy in a different price range, you would likely be a quick buyer and bring a better financial picture to the offer. Some price ranges are also moving slower if you are looking to upgrade your home. Homes over $500,000-$700,000 are taking longer to sell because there is a smaller pool of buyers for this priced home. Deals may be found at this price range and if you are selling below this range, you will have a high demand for the home you are leaving.
If it is time to consider buying on the lake, you need to get in touch with us in the next month as those homes come onto the market. This past year there was a great demand for the lake market as people looked to make their living situation as optimal as possible given, they were home for more of their time. Homes on water moved quickly and for prices higher than we have recently seen because of this pressure.
Any choice you are making regarding your home, we would invite you to reach out to us to go through your options. We want the home buying and selling experience to be an excellent one for you. Stapleton is the real estate answer.