Insatiable Demand

Blog Post Image
Real Estate

It may sound like a broken record but we are continuing to see increased demand and the continuation of a hot seller’s market. The fierce demand, throngs of buyer tours, bidding wars, rapid appreciation, and limited available homes to purchase are all due to historically low rates. Buyers may be rooting for an easier market with less competition, fewer competing offers, and a gentler rise in values, but that would come at the expense of higher rates and higher monthly payments. It is the very thing that buyers are eager to take advantage of that is causing all their frustrations - record low mortgage rates below 3%. It seems that everyone wants to cash in on these incredible savings at the same time. At lower rates, homes become a lot more affordable, even for Southern California’s high dollar value housing stock. It improves a buyer’s purchasing power as well, allowing a family on a budget to afford a lot more home. 

With rock solid demand and an exceptionally low supply, the market is unbelievably hot and lines up heavily in the seller’s favor. The bottom line: As rates climb, the market cools, demand drops, and homes take a lot longer to sell. The tradeoff is higher mortgage payments and a steep drop in a buyer’s purchasing power.

While today’s housing market may be boiling over on the backs of record low mortgage rates, buyers should keep the pedal to the metal and not give up. Home values are on the rise and mortgage rates are slated to increase to the mid-3’s by year’s end. Waiting is quite simply not the answer. Call me to help you strategize a goal that’s specific to your goals; buying, selling or both. 

Viewing homes and making offers isn’t what it used to be. The unique 2021 buying process requires a savvy strategy to get an offer accepted! Same goes for positioning a property to sell in this exploding market. Just because inventory is low doesn’t mean it’s not important for sellers to still do key things before listing. Homes might be selling well over past sales but still vital to showcase a home properly to take advantage of this hot market.

If you or someone you know is thinking of selling or buying call me and I will explain what sets me apart from other Realtors and help develop a plan specific to your goals.

Boost your home’s resale value by taking advantage of RealVitalize. This unique offering simplifies preparing your home for sale. No upfront costs.

Housing inventory is at historic lows across the country, and that means the market is fiercely competitive. Selling your home in 2021 has the potential to net you a huge return right now, and you can maximize that amount with some simple fixes to make sure your property outshines your neighbors' homes for sale down the street. Ask me how you can use this exclusive service!