Today I want to talk about why the winter market represents a golden opportunity for home sellers.
If you’re considering selling your home in this winter market, I have good news for you—winter represents an incredible opportunity. Why? There are a few reasons.
First, home prices have reached record highs over the past few months. In fact, they’re higher now than they were during the peak of 2006. In spite of the growth we’ve seen in our current market, we’re not experiencing a bubble like we saw 10 years ago, either. Instead, today’s high prices are primarily driven by a lack of supply.
Second, we’re seeing a period of low but rising mortgage rates. For example, the average 30-year mortgage rate has been steadily increasing from its low of 3.375% last January to where it stands now at 4%. By historical standards, that’s still a very low rate. When you combine this with the possibility of interest rates rising even further in the future, it’s clear why so many home buyers are eager to take advantage of the current situation.
Home prices are high, and many buyers are re-entering the market.
Third, we’ve made it to the end of the election cycle, which means that many people who were sitting on the sidelines because of the election and its uncertainty are now re-entering the market and buying homes. This will keep demand healthy in the upcoming months.
Even though it’s only January, the spring selling season is definitely approaching. Spring is the hottest season for real estate in the Brainerd Lakes area, so you have to start moving now in order to take advantage of it.
Coming up with an accurate price is critical in getting your house sold for top dollar in the shortest period of time, so if you’re interested in selling, we’d love to sit down with you and share our marketing strategy. Just give us a call and we’d be happy to help!
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