Many wonder when is the best time to sell their house. 2020 brought unprecedented sales for homeowners and the momentum is still there. Ringing in a new year with 2021 shows us that NOW is the time to sell.
There is a new appreciation for home since COVID has created shut downs and work from home situations, and so many are taking advantage of the low interest rates to buy. But some sellers may be skeptical.
They ask, “Why should I sell my house?”
Well, it is a sellers’ market, which means that there are more buyers than sellers and there is a great chance that your house will sell fast and at the price you have set.
I have shown my buyers’ houses that were just listed and they requested to place a bid. I immediately call the selling agent to only find out there are already multiple bids on the house.
This is great news for sellers!! The seller gets to choose from the multiple offers who will live in the house next. They will receive their asking price, which sets them up to be able to buy what they want.
The inventory of houses is low, and the demand is high.
In the Springfield, MO, area, houses in the purchase range of $175,000 to $275,000 seem to be the sweet spot. Sellers are getting their price when it fits the house. Get your local real estate agent to help you price your house.
Now, a warning: While it is a great feeling to have your house in a bidding war, sellers must be cautious of those bids that are over the selling price. Lenders will not loan over the appraised price, and typically buyers cannot afford to pay the added costs.
So it is up to you, the seller, to choose the bid that will get your price and be the most advantageous to you in your selling process.
Often sellers wait for springtime because the weather is warmer and the flowers and trees are blooming and it just creates a more picturesque setting. That Spring setting is not needed right now because the inventory is so low.
Although it is a sellers’ market, it is also great time for buyers, too. Interests rates are as low as 2-2.5%. WOW!!! The percentage is going to vary, but these are awesome rates and buyers are taking advantage.
That is great news for buyers and sellers!
Selling now gives you more control. You can insist that only buyers with a reputable lender’s pre-approval letter can tour your house, meaning that the buyer has been approved for a loan because the lender already checked out the buyer’s credit, employment history, and their proven means to pay the mortgage. BONUS for YOU!
Let me know if you needed help with selling or buying in the Springfield, MO area. Now is a great time for both!
I’m Susan Holland and I LOVE LIVING IN THE OZARKS.
Thanks so much for dropping by!!