Education and news for smart DIY landlords!
Fall 2021 is here and most real estate experts say that now is the best time to sell properties for a profit. It may be due to the remaining low supply, high demand for housing, and inflation rates cooling down.
But these aren’t the only factors that put sellers at a huge advantage for the final days of the 3rd quarter and the early months of the 4th quarter. There are more reasons to get into the real estate market today. Read on to see more predictions made by housing economists and real estate experts.
First off, let’s talk about buyers who can afford to buy a home in cash. Now that summer and spring are over, there will be fewer properties listed on the market which makes serious buyers start browsing listed properties.
According to a survey made by the National Association of Realtors, homes continue to sell quickly with an average of closing deals 17 days after listing.
Since buyers are more serious and competitive, sellers can expect to receive an average of 4.5 offers (according to the same survey above). This could mean that buyers are most likely to present deals that don’t involve asking for discounts and other forms of seller concessions. Overall, the real estate market is expected to be a seller’s market from July to November.
There’s just something about the surrounding scenery of a house when trees change color and leaves start to fall. And this could be a huge advantage to home sellers as they stage their properties, especially when it comes to curb appeal.
Not to mention, fall also signals the coming of colder months. When potential buyers take a look inside, they’ll feel cozy to the indoor warmth which could significantly influence their buying decision.
For first-time home sellers who employ professional help, they can expect their real estate agents or realtors to have more focus on selling their homes during the fall. This is a contrast to the spring and summer months when a lot of properties are listed on the market and real estate professionals represent multiple properties at the same time.
In a nutshell, a real estate representative during these months has a high chance of hooking you up with the right buyer and the best deal.
In addition to the weather getting colder, fall also signals the coming of many holiday seasons where families should spend their time staying cozying up indoors. Those holidays include Hispanic Heritage Month, Columbus Day, National Native American Heritage Month, Halloween, Veterans Day, Thanksgiving, Christmas, and New Year’s Eve.
Home sellers who want to go the extra mile have the option of decorating their properties with the elements of seasonal festivities during the staging process. And this strategy is proven to be effective on out-of-season house-hunters.
With the housing inflation and mortgage interest rates cooling down, more buyers are feeling more confident to take a loan. Though it doesn’t necessarily mean these conditions would cause a buyers market. It just means more offers due to the increased buying competition - something you would want to see as a home seller.
Please take note that not all real estate markets are the same. There may be some neighborhoods that have different supply and demand rates. If you own a property in an area where the housing supply is higher than the demand but still want to sell, I suggest doing an extensive market study first or consulting with a top-rated real estate professional.
Making the best decisions of investing in real estate involves a lot of research and data. Review more about 2021’s real estate market predictions and analysis by reading these blog posts: