Seller’s market for homes
Florida homeowners who are undecided about selling their home should be aware that there is a seller’s market for homes, and it is expected to last through June of 2018. The seller’s market may even continue if there is not a substantial increase in the number of homes for sale. While it may seem that there is time to place one’s home on the market because the demand is so much greater than the supply, it is not a situation that will last forever, and homeowners should consider the reasons why it may not be prudent to wait to put their home up for sale.
One reason homeowners should not delay selling their home is that buyers are showing signs of exhaustion and are prepared to forego some comforts in order to find a home in the market. While this may seem to be an ideal situation for home sellers, it is not expected to last.
The historically low levels of mortgage interest rates are a boon for both buyers and sellers. Rates are hovering near 4.5 percent, which is very appealing for finance-conscious buyers. However, the rates are expected to begin to increase and reach an average of 5 percent by the end of the year.
Placing a home on the market is ideal when inventory is low and demand is very high, a situation that often causes bidding wars for properties. It is also important to know that there are plenty of buyers willing to pay cash.
A real estate attorney may work to protect the interests of clients who purchase or sell residential real estate. Typical services may include negotiation of purchase agreement terms, assisting with real estate closings, overseeing short sales or litigating to resolve disputers regarding zoning laws, title issues or lack of disclosure.