Monday, February 12, 2018 / by Vanessa Saunders
It seems like we've been chopping down a lot of trees here lately but nobody's in the forest to listen to them fall. Let's try it this way:
If Lovable Long Island Louie the Stock Broker came to you with a tip and said, "Ya know all those Beanie Babies you got in the attic you've been meaning to sell? There ain't none on the market right now and peoples is stumblin' all over themselfs to buy 'em up. It's a great time to sell, as you plan to dump 'em in the spring anyhowz."
What would you do?
The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2017:
Putting your home on the market now instead of waiting for increased competition in the spring makes a lot of sense.
Global Property Systems Says:
Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.
Whatever you decide, be sure to thank Louie for the tip.