Usually, at this time of the year, the real estate market is asleep because it tends to be just as cold as the weather. According to Investopedia, this is the time when a few buyers are taking advantage of the season to look for new homes since there is usually a dip in the prices of homes.
But this year takes a very different turn! Who would have thought that because of the pandemic, an influx of buyers is now marching into the market, taking advantage of the very low mortgage rates!
For the Sellers
Sellers greatly benefit during this season because now the demand for homes is very high. Gone are the days where the sellers are willing to negotiate as stated by realtor last 2018, because now the ball is in their court! They receive offers above their asking price!
Another great reason to sell is that movers are highly available and affordable during this season.
It's really a win-win for both buyers and sellers.
What to Do Now?
With all these things happening, what are the best steps to take for sellers?
1. Take advantage of virtual tours.
We should still prioritize everyone's safety even though the market is hot on a winter, nonetheless! Currently, a lot of companies are utilizing the digital space to cater to the needs of buyers. Realtors are also more than willing to give live virtual tours of the market if ever the buyer would not be available to physically view a certain prospect.
2. You can price your home high.
As mentioned, sellers have the advantage this season of the year. Buyers are more than willing to spend a little bit more on the house that they really like. Still do make sure to make your home reasonably priced to avoid shooing away potential buyers.
3. Choose the best offer wisely and time it well.
It could be too exciting when a certain offer is given way above the asking price. That's really great! But do take note that there are many buyers out there who might be willing to give better offers. So how will you know when to accept? Seek the guidance of your agent. They have the expertise and are always going to seek out what's best for you.
Christmas is almost here and what better gift can you give yourself and your family other than a new home! Ready to make that move? Call us and we'll make you happily "walking in a winter wonderland" with our deal!