Do you guys remember the Miss America beauty pageant? Today’s real estate market looks just like that. Buyers are sizing up houses based on condition, presentation, and what they are getting for their money.
Why is that? Interest rates are low and money is cheap. Buyers don’t want to spend their cash savings to remodel a house when they can purchase a home that is complete and ready to move in.
Homes being listed that are remodeled are selling very quickly and for great prices. Homes that haven’t been updated for a while or are priced too high are sitting much longer on the market.
To sum it up, the market isn’t slowing down and home values are not declining. Buyers are just more in tune with the market than they ever have been before.
Inventory is low and there isn’t a lot out there to choose from. For those of you who have thoughts of selling, this is a great time for you to get your home on the market. Let’s just make sure your home shows like it’s ready for a beauty pageant.