Across the United States, there is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers are out in force and are being met with a
Timing is Everything!
Timing is Everything!
2018 is now well underway. As I write this, there is a blizzard barreling down on the Twin Cities and is going to dump another 8 inches of snow. This is right after the 12 inches we got last week! So it is hard to believe but for home sales, the Spring market is here. Most consumers believe that our best selling season is June, July and August, when actually it is March, April, May and June. July usually holds up pretty well also. But by mid-August we go into a slow down because a lot of folks have already found the home they want and school is soon starting.
I recommend to every seller to get on the market in early March so that you have the whole high selling season to get the right buyer. The person that could be your buyer may be out there right now, buying someone else’s house.
This year is going to be an incredibly profitable year for sellers. Homes are at an all-time high in pricing and at an all-time low for inventory. Normally, at this time of year we have about 20,000 homes for sale in the 13 county Metro. This year we have less than 7000 as I write this. That means the demand is huge and is pushing prices up, which means we may be at an all-time high. Interest rates remain low but have started to increase and most predictions are for them to go even higher by the end of the year. That should solve our inventory problem by eliminating a number of buyers from the market, but it will also put downward pressure on price appreciation, at least in the short run.
I am asked by a lot of folks “what if I cannot find a home to buy in this tight market?” For most folks we are finding new homes. New construction is really moving at a fast clip this year and that could be another solution. But if you profit more on your current home by tens of thousands of dollars more, interim housing is not really a problem. You could even take a short vacation at a luxury hotel while we look. We will probably find you just the home you are looking for, but if not, I have some other very creative solutions.
So, to get a complimentary analysis of your situation, give me a call or email soon.
"When Time and Money Matter, So Do Knowledge and Experience!" I am very fortunate, along with my partner and wife, Ann, to have spent my career of 30+ years helping people successfully market their....
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