WHOA! We are down nearly an entire month’s inventory since last month. It’s happening faster this year than it did last year. What’s happening you say? The full fledged Seller’s market of course! Buyers are out in droves right now due to the changes in lending, the low interest rates, and the reasonable home prices. Good news for seller. Buyers, secure your home now while you still have a selection!
With the mortgage interest rates as low as they are, the changes that the mortgage industry just announced (money savings for borrowers), and inventory levels that are at the highest they have been since this time last year, it’s now time to buy. If you are a buyer, don’t wait until our traditional busy season. If you start now, you’ll be loving life in your new living room while the “late to the party” buyers are out scrambling for homes and out bidding each other. It happens nearly every year. Be ready for it this year! And Sellers, don’t think your home is going to sit on the market just because inventory levels are a little high…they always are this time of year. The buyers are out there NOW buying up the inventory. As long as you are properly priced for your condition, you’ll get activity in this market! Call or text 480.250.0023 with any market condition questions.
Lower levels of inventory and low interest rates means the buyers that are out there are salivating for that perfect opportunity. For sellers looking to sell, as long as you are priced correctly you should have more than enough buyers willing to place offers when you first hit the market. For buyers looking to buy, make sure to double check with us regarding your loan program ASAP. January has brought about changes that may affect you.
Alright, alright… I know we are in Arizona and, for the most part, the weather is quite delightful too! This time of year is why we live here, right?
Take a look at the inventory levels for November (chart below). There is quite the jump from October and quite the drop in sales for November. This is normal for this time of year. Thanksgiving week is actually the slowest week in real estate every year. This creates an interesting opportunity for buyers. The sellers that are on the market between now and the end of the year are usually highly motivated to sell. Get off the fence, Buyers! Interest rates are great which allows for more affordability on top of the great deal that you are likely to negotiate at this time (assuming you are aligned with the ninja negotiators at Team Evolution). Sellers, now isn’t a terrible time to sell. I’ve actually sold homes on Christmas Day before. As long as your price and condition are appropriate for your area, you should have no trouble. Our current listings have flown off the shelves!
Let us first mention that mortgage interest rates are GREAT right now! Inventory is up but not so much that there aren’t buyers for all. Yeah, it’s a little slower during the holiday season because everyone is a little more focused on pumpkin pie than real estate BUT that doesn’t mean your home isn’t going to sell. Talk to us about strategy and positioning and you’ll be well on your way to a sold sign in your yard. What’s that? If you hold out a little longer could you make more money? Sure but then you’ll be paying that much more for the next place. Bottom line… take your equity and invest it in the next place now, before prices & interest rates creep up while you aren’t looking.
