Home Size3,611 sqft
Days on Market3
Is Now the Time to Sell Your Home?
- Real Estate Tips
- March 16, 2021
Right now, the housing market is experiencing an unprecedented shift into a seller’s market. Many homes are being sold for offers well above asking price, as a large portion of homes are being met with multiple offers. This is caused by the limited supply of homes, as the mortgage rates are at an all-time low and many are looking to invest in homes.
With this type of market, it may be the right time to sell your home and experience the bidding war yourself!
What the Experts are Saying
Since the coronavirus pandemic, the mortgage rates have dropped historically. The Federal Reserve has announced that it intends to keep these long-term borrowing rates low in the foreseeable future.
According to Melissa Cohn, an executive banker at William Raveis Mortgage, the only way to ensure that you access these rates is to get a new mortgage. If you are already a current homeowner, you may want to consider refinancing if your credit is up to par. Some homeowners with good credit are receiving mortgage rates as low as 2.5%!
Take Advantage of the Market
If you have even been considering selling your home, now is the time to act! With the bidding wars that are taking place in the market, now may be the time more than ever to sell your home and cash in on the new profits. With a seller’s market, it is more than likely you will be able to receive multiple offers on your home. To get started, simply choose a realtor in your area and get moving.