You may wonder whether you should sell your home during the pandemic. The timing couldn't be better. Inventories are low due to the reluctance of many homeowners to allow strangers into their homes. Regarding COVID-19 concerns, the real estate market already offers virtual technology that makes it easy for buyers to see every inch of your home without stepping foot inside.
Thanks to great rates and other factors, there are buyers waiting for homes to come on the market. That means you won't have long to wait for an offer. With a great real estate agent, an Austin home seller can look forward to strong offers from motivated, qualified buyers.
We are in the middle of a red-hot market. This article lays out 5 reasons why you should become an Austin home seller now.
1. Historically Low-Interest Rates Continue to Drop
As the economy remains uncertain, interest rates continue to drop. This makes it easier for homebuyers to afford mortgage loans. It also gives Austin home sellers favorable rates on new home purchases.
2. Low Inventory Continues to Drive Up Prices
Home sellers across the country are enjoying higher prices due to dwindling inventories.
"More recent realtor.com weekly data show that home sales and prices are surging early in the year, as solid buyer demand pushes inventory to very low levels, and keeps double-digit
upward pressure on prices," according to the weekly COVID marketing report put out by realtor.com.
3. You Can Count on Serious Buyers
Given the seller's market and a reluctance to interact during the pandemic, home sellers may find that they get more sincere buyers making inquiries about their properties. It takes more time to connect with real estate agents and find creative ways to learn about properties for sale. So, prospective buyers are more likely to come bearing loan pre-approvals and solid offers.
4. Alternative Marketing Methods Make It Easy to Show Your Home
With a raging global pandemic, now is not the time to let strangers into your home. However, with virtual showings, aerial photography and new products coming online every day, prospective buyers can tour your home without ever knocking on the door.
5. Stimulus Checks Can Give Homebuyers the Funds for a Down Payment
Many Americans have received $600 stimulus checks, and the Biden Administration wants to send out additional checks to keep the U.S. economy from reaching a standstill. If the COVID-19 relief bill penned by the new administration passes, homebuyers could add $1,400 to their nest egg. Some mortgage lenders do not require large down payments, meaning stimulus checks may provide the impetus needed for some families to make an offer on their first home.
If you have extra time on your hands due to the pandemic, why not spend it preparing your home for sale? There has never been a better time to sell your home. By partnering with the right real estate agent, you can make good things happen even in these uncertain times.