Monday, August 3, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
I ran into an old friend I haven't seen in years at the Piermont NY farmer's market Sunday. Our conversation eventually rolled around to real estate (funny that!) and she mentioned she'd sold her Piermont home last year.
She lamented selling it when she did, because if she'd waited until this year, she would have made much more on it.
Perhaps there is a lesson in her story. If you've been thinking about selling for a while, now is an excellent time. You DIDN'T sell last year, did you? Nothing guarantees that you will be selling at the peak of the market. But you'll at least be selling at a point well above last year!
Conditions for sellers have rarely been better. Buyers are falling over themselves to find and buy properties. Aided by historically low interest rates, buyers are very actively shopping for homes. Rates are forecast to remain low, creating a great opportunity for home buyers.
Because there are so few homes on the market, there is little competition between sellers for buyers with offers. Home sales are expected to go up next year, which will push more homes on the market. Freddie Mac, Fannie Mae, the Mortgage Banking Association (MBA) and the National Association of Realtors all predict higher sales for 2021.
Only you know if selling your home now is the right thing for you. All I can tell you is that now is an EXCELLENT time to have a home for sale in the Hudson Valley real estate market.
To find out more about selling your home, or for answers to your questions, CONTACT US.