Monday, August 24, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
1. Now is a great time to sell because of pent-up buyer demand and a later-than-usual hot market.
The Hudson Valley real estate season got a late start this year due to Governor Cuomo’s March shutdown and the onset of Covid-19 precautionary measures. But figures show sales are up, and buyer interest is booming, as people searching for homes scramble for the relatively few properties on the market.
2. Now is a great time to sell because low inventory will make some homes more desirable, even if they don’t have all of the latest and greatest upgrades. Buyers don’t have a lot of choices right now, so homes that may not have all the bells and whistles are starting to look pretty good to motivated buyers. We are also seeing more buyers than usual offer to waive inspection contingencies, which means they are willing to accept “as is” condition.
3. Now is a great time to sell because the combination of low interest rates and low inventory has resulted in unprecedented buyer interest. The meeting of low mortgage rates and a limited number of homes to choose from in the Hudson Valley is a perfect convergence for sellers. And low interest rates mean lower monthly payments for buyers, who can now afford more house for their money
4. Now is a great time to sell larger homes because permanent work-from-home policies have resulted in a desire for more space, including multiple home offices. .As people experience spending more time at home, they are beginning to realize they need more space, especially if another shutdown should occur, either now or in the future. Builders are seeing new home designs that include office space or work-related accommodations.
5. Now is a great time to sell luxury homes because COVID-19 has increased demand for homes with more outdoor spaces and upgraded recreational amenities. Topping the list in the Hudson Valley are homes with outdoor swimming pools, even as the warm summer months dwindle.
If you are thinking about selling your home, the time to move is NOW. The coming months will show the normal slowdown as winter weather and the holidays approach. CONTACT US to get started now.