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Should I Wait to Sell My Home?

Should I Wait to Sell My Home?

The days of the crazy real estate markets of 2019 -2021 are long gone for the typical Seller and Buyer.  Those markets were unsustainable with many Buyers not being able to negotiate at all with Sellers and having to pretty much accept a property as-is while additionally paying over appraisal prices of $20k -$100K with little to no due diligence period.  We were in a huge Seller's market and, even though not as much now, we are still in a Seller's market due to the continued housing shortage. However, now in the majority of areas, we have moved back to a normal negotiable market like we were accustomed to seeing.  

With the now more stabilized industry and mortgage rates, more Buyers are ready to enter back into the market again as they feel more confident they could negotiate a fair price. Additionally, concessions of rate buy-downs are becoming more normal during this phase of real estate. The Sellers, who were fortunate enough to buy or refinance their home during the times of those spectacular interest rates of 2% - 4%, have been hesitant to move but now are becoming more willing as more great mortgage products continue to be introduced which takes some of the sting away from the current industry mortgage rates.  

Basically to answer the question is, with the many variables that's currently affecting the market right now, no one truly knows where the market is going to be six months to a year from now, but what we do know is there are plenty of buyers out there looking for homes and if you can price your home at a value relative to the comps and you are willing to negotiate various aspects of the offer, you'll be able to sell your home within a short time frame allowing both parties to come away happy and satisfied.  

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