In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
The National Association of Realtors (NAR)recentlyreportedthat the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.
Every monthNARreports on the number of buyers out in the market looking for homes, which is also known as buyer traffic. As seen on the map below, buyer demand in March was strong or very strong in 42 out of 50 states nationwide, and Washington, DC.
Many buyers are being confronted with a very competitive market in which they mustcompetewith other buyers for their dream homes(if they are even able to find a home they wish to purchase).
Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.
Many homeowners underestimate the amount of equity they currently have in their homes. According to a recentFannie Maestudy, 37% of homeowners believe that they have more than 20% equity in their homes. In reality,CoreLogic’slatestEquity Reporttells us that78.9% actually do!
Many homeowners who are undervaluing the equity they have in their homes may feel trapped, which may be contributing to the lack of inventory in the market.
If you are debating selling your home this year, let's meet up to evaluate the equity you have in your home, as well as the opportunities available in your market.
Author:Heather F Davidson Phone: 609-209-7581 Dated: April 25th 2017 Views: 117 About Heather: I'm an agent whose business is built on the promise of exceptional customer service. If you are sel...
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Specialties: Buyer's Agent, Listing Agent, Relocation, Short-Sale
I'm an agent whose business is built on the promise of exceptional customer service. If you are selling your home or searching for that special place to call your own, you deserve to work with someone you trust-someone who you know has your best interests in mind. Whatever your particular Real Estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.
We hope 2018 is a great year for you, both personally and
"She was wonderful and very responsive. We had a lot of anxiety with selling our home and were hoping to sell it quickly because we needed to find something bigger since we are expecting twins. Our first meeting with Heather we knew she could get the job done. She promised to have our home sold before twins arrival and she did just that in less than 3 weeks! She's a superwoman for sure. There were some bumps in the road with the mortgage company we chose to purchase our new home and Heather assured us everything would work out and it did. She is so easy to get along with and has an answer for any question or concern. I highly recommend her"