Selling. Selling. SOLD.
Emily Morgan | May 10, 2018
The odds are in your favor!
You’ve volunteered to sell your home as a sacrifice to other homeowners. The road will be treacherous, the challenges will be painful and there will only be one champion!
Okay, maybe this won’t be that difficult but at least the Hunger Games references got your attention. Before I go any further, let’s define one thing. Seller’s Market. A Seller’s market is the times we are currently in, when the demand for houses exceed the supply.
So what does this have to do with you?
Well nothing, especially if you’ve already volunteered for the Hunger Games. BUT if you’re looking to move because of career relocation, or you’re just in the mood for a new start, then this is the perfect time for you to sell your home.
If you’re like me, you don’t know a ton about real estate. So, when it comes to selling, you’re trying to figure out why this even applies to you. Whether it applies now, or down the road, this is great to know.
Selling your home can be a difficult process. You end up trying to either list your home yourself or include a realtor who will end up charging you for extra fees (unless they work for ListTrue or Redfin).
If you’re not working with an agent that gives you options, then you’ll have a hard time finding the money to afford a home. We’re in the year 2018 and we’re all struggling with the imbalance between sellers and buyers. It’s like the saying “which came first; the chicken or the egg?” We need the sellers to sell their homes in order to get the buyers to buy them, but in order to buy them they have to sell their home. It’s a cycle of having enough homes in inventory to be able to circulate the market.
So what does this mean exactly?
It means that because of the lack of inventory for homes. Ultimately, the seller wins in the situation no matter what. As a consumer, we always look for the best deal, right? Well, because of this seller market, buyers are spending more rather than less. The prices for homes are more costly based off of the lack of inventory, so in order to put a bid on that dream home of yours, you will probably be spending more in the fight between bids.
Then it comes to the millennials. There are a number of reasons to why millennials are annoying the other generations, but they aren’t doing too badly for themselves. For the half that are the free spirited, travel types maybe they aren’t ready for a home, but for the other’s that saved their money rather than spent it on things, they are ready to commit.
We all know that buying a home is a huge commitment, so being dedicated to having a place you can call home is HUGE especially for a generation that need so called ‘cry spaces’. That aside, millennials do have one thing going for them. They have big goals. And when I say big, I mean GIGANTIC. Millennials are dreamers and goal achievers. They set their minds to working hard to make things happen and making enough money to survive, thus being able to buy a home and make it their own unique space.
All in all, there’s no avoiding a sellers market considering we’ve been in one for the past few years. Until the housing market increases, we’re stuck with high prices. Thankfully, the banks, credit unions and mortgage companies are adapting with us, trying to get the best deal possible.
So, keep your chin up ladies and gentlemen! Don’t eat the poisonous berries, find the best fit for you and remember, the odds are in your favor.
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