Key Takeaways:
- Buyers and sellers should take advantage of the opportunities available in today’s housing market.
- Homes are flying off the market at record-breaking speed, so the time for buyers and sellers to act is now.
- Linda Craft & Team has real estate expertise across the board. Contact us, or call 919-235-0007 today, and don’t miss out on all the market has to offer right now!
Benefits for Everyone in Today’s Housing Market
Although the heightened demand for homes has created a strong sellers’ market, today’s housing market boasts benefits for both buyers and sellers. Whether you’re a first-time homebuyer or wanting to sell for top dollar, you’ll discover prime opportunities available to you in 2021.
The bright side for buyers
With homes selling quickly in the Triangle real estate area, now is an ideal time to buy a home due to today’s low mortgage interest rates. Low mortgage rates will save you money now and in the future as you pay off your loan. Real estate experts expect home values and mortgage rates to rise by the end of 2021. With this prediction in mind, buyers should not be intimidated by the sellers’ market and should act quickly to take advantage of today’s impressively low rates.
Say hello to your new best friend: home equity
Today’s low mortgage rates are opening doors for both experienced home buyers and those who are tackling homeownership for the first time. As a first-time homebuyer, you are probably in the midst of becoming acquainted with your new best friend, home equity. Home equity is often regarded as a homeowner’s most valuable asset because it is the portion of your property that you actually own. Low mortgage rates mean you can pay off your home loan more quickly, which subsequently increases your home equity. When mortgage rates were at an all-time low last year, homeowners noticed major increases in their net worth through their home equity.
Home supply deficit for sellers
Calling all sellers: it’s your time to shine! The reality is that there are significantly more interested home buyers than there are homes available to be purchased. In fact, according to the National Association of Realtors, the average house on the market today receives 4.1 offers and is listed for only 20 days.
As the total number of homes for sale continues to decrease, the ball remains in the seller’s court, with buyers becoming increasingly eager to purchase. This shortage of home inventory allows sellers to list their homes at strong prices and stand firm in their negotiations with prospective buyers, thus earning sellers greater profits. However, it is not guaranteed to stay this way forever, so sellers should go ahead and list their homes while the bidding is hot.
Don’t sell your home short
As a homeowner, you’re proud of your home and know its true value. The sellers’ market allows you to list your home at an unbelievable price and not settle for less. Remember that buyers are eager to purchase, and you as the seller have strong leverage in the negotiation process.
Wanting to Buy or Sell? Let Us Help!
Today’s real estate market can be tricky for both buyers and sellers to navigate. But remember—you can’t sit back and let the market’s ideal conditions pass you by. Contact Linda Craft & Team, or call 919-235-0007, to work with the top Realtors in the Triangle area and get the buying and selling guidance you need. We look forward to helping you take advantage of our market opportunities!