Thursday, October 1, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Have you been thinking about selling your house and moving, maybe to somewhere closer to family, or away from the urban and into the suburban? Has the last six months we’ve all spent at home made you aware that you need more space. Or less? Selling your home this fall might be the way to go. Here are a three reasons why.
The market is extremely active.
Buyers are on the move right now. Buyer traffic has gone up by over 60% compared to last year. Homes are in demand right now in the Hudson Valley, and buyers are often competing over who can make the best offer. It’s called a Seller’s Market, and it means home seller have the upper hand.
Not enough homes for buyers.
The reason it’s a seller's market is because there aren’t enough homes to satisfy the number of buyers looking for them. Partly because of the Covid-19 pandemic, many homeowners were reluctant to list their homes. That reluctance will gradually subside as the economy continues to grow back, giving buyers more to choose from. Waiting until next year will be a big mistake for sellers ready to go.
Financing is becoming more streamlined.
When the seller’s market exploded last spring, lenders were overwhelmed with applications for mortgages. By now, they have learned how to handle the demand and the process for pre-approvals is much faster. Buyers are coming with their financing in hand, ready to buy.
If you are working from home, home schooling or just need more room for your changing needs, now is the best time to move up. If you are retired or looking to downsize, this is an opportunity that may not come around again for you.
The Hudson Valley real estate market is ripe for sellers right now. Contact a Global Property Systems local area expert to discuss your needs and plan for your next move. Click here to