Homebuyers in our market will find it very competitive to get a home at the moment. Inventory is insanely low, which isn’t helped by the fact that the cost of construction has increased exponentially, meaning new construction home prices have skyrocketed.

However, for homeowners, it’s a wonderful time to sell. For one thing, interest rates are at record lows, meaning that buyers’ purchasing power has increased. That in turn means the few homes that are currently on the market are facing heavy competition. People are offering ridiculous terms in order to get properties; I’ve seen buyers offer $100,000 above asking price, waive appraisals, and more. 

Although this type of market is expected to last for quite a while, I do encourage you to act sooner than later. As we move into the late spring, more inventory will appear on the market, which means a boost in your competition. 

That said, there are some strategies buyers can use to secure their assets sooner than later. The sooner you get a house, the quicker you’ll make additional capital back. By that, I mean your home will appreciate exponentially, as most home appreciation occurs during our spring cycle. You can expect to see a large differential in what your home is purchased for today and what you could resell it for at the end of the summer.

Whether you’re looking to buy or sell, don’t hesitate to reach out to me. I can help buyers form a competitive strategy to win in this market, and I can help sellers maximize the outcome of their sales. I hope to hear from you soon!