With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying:
“Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”
But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to the latest Existing Home Sales Report from NAR:
“From one year ago, the inventory of unsold homes decreased 13%. . . .”
What Does This Mean for Sellers Today?
With buyers eager to purchase but so few homes available, sellers who list their houses this fall have a tremendous advantage – also known as leverage – when negotiating with buyers. That’s because, in today’s market, buyers want three things:
- To be the winning bid on their dream home.
- To buy before rates rise
- To buy before prices go even higher.
Your Leverage Can Help You Negotiate Your Best Terms
These three buyer needs give homeowners a leg up when selling their house. You might already realize this leverage enables you to sell at a good price, but it also means you can negotiate the best terms to suit your needs.
And since buyer demand is still high, there’s a good chance you’ll get offers from multiple buyers who are willing to compete for your house. When you do, look closely at the terms of each offer to find out which one has the best perks for you.
If you have questions about what’s best for your situation, your trusted real estate advisor can help. They have the expertise and are skilled negotiators in all stages of the sales process.
Bottom Line
Today’s buyers are motivated to purchase a home this year, and that’s great news if you’re thinking of selling. Let’s connect today to discuss how much leverage you have as a seller in today’s market.
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About Us
We are Jamie and Sandi Ehresman, happily married and happily teamed up to rock this thing called Real Estate in our little neck of the woods (Central Texas, that is 😊).
When we’re not working, we’re hanging out in downtown Bastrop with friends, enjoying local food and music, dancing around our kitchen while making dinner, kayaking down our local piece of the Lower Colorado River, starting a new home project, traveling to far-off places with family…you get the idea!
Part of what makes both our marriage and our business work so well is that we complement each other perfectly. Together, we are able to attend to every detail, jump every hurdle, solve every problem, and go the extra mile to ensure an extraordinary experience for you and yours.
But beyond that, we are interested in the relationships we are building even more than the transactions we are working, as important as those are. We want you to call us, to work with us, to build a lasting relationship with us. We MEAN it. We are here for you.