3 Reasons To Sell Your Home In Today’s Market.
Should I sell my house now or wait? This is a common question many homeowners in South Florida and Miami-Dade are currently asking themselves. The truth of the matter is, the South Florida real estate market is still booming in and this is the best time to sell your house. Houses are selling above the asking price and the best time for sellers to capitalize on this red-hot real estate market is now.
In this article, I am going to share with you the top three compelling reasons why you should consider selling your South Florida home now!
1. It’s A Seller’s Market
A seller’s market is created when the demand for houses for sale is more than the supply. Currently, there are more interested homebuyers in South Florida than sellers. Therefore, sellers are at an advantage and homes are being sold at a higher price since there are fewer homes available.
The high number of homebuyers in the South Florida real estate market is pushing competition to a whole new level and as a result, homes are selling quickly. As a home seller, when the inventory is low, you may be able to sell as-is without making major repairs for your home and still sell at a higher price.
The real estate market in South Florida is growing at a higher rate as a result of increased demand for homes for sale. For instance, research has shown that single-family homes sale has increased by 24% compared to a similar period last year.
2. You Will Have More Negotiation Powers When Selling
Since there are many homebuyers looking for homes for sale in South Florida, you are guaranteed several offers. When you receive several offers from different prospective homebuyers, you will not feel pressured to accept every buyer’s demands.
You can have an easier time negotiating for favorable home prices, move-out dates, home repairs, and other contingencies that might come with the offer. When buyers’ competition is high, they will have few options and they will likely give in to your demands.
Homes are no longer staying in the market for long since many buyers are interested in buying their dream homes in this great city. Many new residents are relocating from high-tax states to South Florida since there is no state income tax or capital gains on personal income.
Therefore, if you have been waiting for the best time to sell, do it now because there is every indication that your home will sell fast.
3. Interest Rates Are Low And It’s The Perfect Time For An Upgrade Or Downsizing
The mortgage interest rates have been maintained at a historic low to ensure that the South Florida real estate market remains strong despite the shambles of the COVID-19 pandemic. If you want to buy a new home either as an upgrade or downsize, you stand to benefit as a result of affordable mortgages.
You can feel confident that your home will sell fast and for a higher price to enable you to upgrade or downsize in good time as per your goals.
If you are not sure where to start your South Florida home selling process, feel free to contact me. I will provide you with a custom market report, home valuation, a no-obligation consultation, and more information on the South Florida real estate market.
Jester Nino
Broker Associate
Oscar Teran Group | C5 | EXP Realty
305-204-3585
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