It’s always risky to sell your house. Is the market strong enough to get you top dollar, or is there still some room to grow? Could you squeeze a couple extra dollars if you wait a month? What about a year? In real estate, nothing is for certain, but there are indicators that you shouldn’t ignore.
Times are crazy right now, but the real estate market is still strong. People are looking for houses but there just aren’t enough available. What does that mean for sellers? Now’s your chance! If you’re ready to sell and move somewhere warm and tropical—like Hawaii, perhaps—this could be the time to get the best price for your house.
Lack of Inventory
This has been an interesting year. The COVID-19 pandemic has changed just about everything, including the real estate market. People aren’t sure about their job security and are choosing to stay in their homes. Even families who were going to move have changed their plans in favor of stability.
With everyone staying in their homes, the market is short by about 3.3 million houses. Housing inventory is down 18.8% from last year and shows no signs of improvement. These trends aren’t just localized to one part of the country either. Over half of the states are experiencing a housing shortage.
People Want Houses
A lack of supply wouldn’t matter if there was also a lack of demand, but that’s not what’s happening. Interest rates are at an all-time low, and people want to buy. Not only do they want to buy, they want to buy big! The prospect of lower mortgage payments is making many buyers look for an upgrade.
Unfortunately (for them), nobody wants to move. As the laws of supply and demand state: when demand goes up, so do the prices.
Right now might be the best time to make your move. Not only would you sell your house for a prime price, but you could capitalize on these historically low interest rates and pick up your dream property on the Big Island with a lower-than-average mortgage payment. Talk about win, win!
Ready to Sell and Make Your Hawaiian Dreams Come True?
There just aren’t enough houses on the market right now and people are looking to buy. If you’re ready to ditch that old house and make the move to Hawaii, now might be the time.
Once you get top dollar for your house, give me a call at 808-209-6244 or send an email to RandyRipley808@gmail.com, so we can find the home of your dreams in the Islands. The tropical life full of Mai Tais on the beach is more accessible than you think.
Aloha, and welcome to Hawaii.