As real estate agents we’re constantly asked, “How’s the market doing?”
No matter who we talk to it’s widely accepted that it’s a great time to buy real estate – with homes at fire sale prices and ridiculously low interest rates, it’s pretty hard to dispute that. People rarely realize however, that it is in fact a GREAT time to sell as well.
“Why” you ask? Well, while your home may not have the market value that it did 7 years ago, if you are thinking of selling in order to move into another property (regardless of whether you’re trying to move up into a bigger home or you need to downsize), the property you’re trying to move into is also being sold at a fire sale price! That means smaller down payments, smaller closing costs, and of course getting to take advantage of those low interest rates!
Beyond just saving you money, the market is such that if you price your home correctly (we always recommend using the help of a real estate professional to determine what that price should be) it is going to move quickly! Currently in the Conejo Valley and Ventura County we have a very low inventory of homes available for sale. On the flip side we have a tremendous number of buyers! This means that should you put your home on the market you’re going to have fierce competition for it! You can expect to see multiple offers and since over 30% of the buyers out there are investors, you have a good chance of seeing some all-cash offers in that pile!
While each situation must be analyzed individually, generally speaking, if you’re thinking of making a move any time in the near future, now is the time to act!