Quote Auto/Home

Where are the Sellers?

July 1, 2015 by novallus

Guest Blog Content from Ryan Fisher, ReMax

Low inventories resulting in multiple offers are contributing to what experienced agents are calling the most challenging market they’ve ever worked. While buyers with resources may find the market difficult, purchasers with minimum cash and credit are struggling to find and get into a home.

First-time buyers feel the impetus to purchase because they’re renting and are concerned about being priced out of the market with rapidly appreciating prices and rising interest rates.

Sellers may not feel the same urgency because they already own a home. While they might find it appealing to change homes, they may not feel a pressing motivation causing them to act.

In some cases, sellers are so attached to their low interest rate mortgage that instead of selling, they’re keeping the home for a rental property. This may be a good investment for people with additional cash resources for the down payment and closing costs on the replacement property.

Why now is a good time to sell:

  1. The economy is strong.
  2. The majority of home sales occur in the months of May through September.
  3. Many buyers find it preferable to move in the summer because their children are out of school and they can avoid the winter weather.
  4. Mortgage rates are still very low but are starting to rise.
  5. Current low inventories in most markets result in higher prices and less competition.

Contact your real estate professional to evaluate the opportunities of making a move.

RYAN FISCHER

Realtor

Ryan@TwinCitiesPropertyFinder.com

Phone: 612.888.6127  |  Fax: 763.416.2499

RyanFischerRealEstate.com  |  REMAX Results

Recent Articles

Does My College Student Need Life Insurance?

It may not be on your radar, but there are important factors to consider when determining if your college student needs life insurance. While students of all ages are currently making their way to the digital and physical seats in college classrooms, higher education – particularly undergraduate college – is defined by younger attendees. Fresh […]

Read More
Driving Habits That Are Bad for Your Car

Think you’re a good driver? No matter how safe you are behind the wheel, you’ve probably done things like: Shift into drive while the car is still rolling backward. Ride the brakes on steep hills. Roll into the gas station on empty. If so, you may not have even realized you were doing everything wrong. […]

Read More
Swimming Safety: 10 Tips for Summer

Summer is here and people are flocking to the water — whether it’s the beach, a lake, a river or a backyard pool. But, wherever there’s water, there’s also danger. According to the U.S. Centers for Disease Control and Prevention, about 10 people drown every day — and two of those are children 14 or […]

Read More
Novallus Insurance Brokers is now Options Insurance. New Name, Same Team.
102 N Jonathan Blvd #210
Chaska, MN 55318
crossmenuchevron-down