The housing market is strong right now, which makes it the perfect time to find your Big Island home! With daily bidding-wars and the average home being on the market for only 37 days, there are many factors that make selling and moving a great option. If you’re thinking about selling your house, here’s four reasons why now is the time to get out of your current home and move to Hawaii.
IT’S A SELLERS’ MARKET
The term "sellers' market" is thrown around quite a bit these days, but what does it mean? Basically, it means the demand for houses is high and the inventory is low. Sellers can practically name their price because there are so many people fighting for a limited number of properties. Nothing lasts long on the market, and more than half of homes went above their asking price, giving sellers the upperhand.
What that means for you is that you’ll be able to get a lot more for your home because everyone wants to buy. Selling in a sellers’ market forces buyers to outbid each other for the limited stock. What’s that mean for you? Ca-ching! Are you ready to sell yet?!
DON’T WORRY ABOUT MAKING UPDATES
If you’re hesitant to sell your home because it’s in need of some updates, you might be able to put down the hammer and nails sooner than you think. In a sellers’ market, buyers are fighting for limited properties, so they don’t necessarily care if it needs a little work.
With so many rushing to buy, many houses are selling “as is” or with little-to-no updates. While fixes and renovations can definitely boost the value of your home, if it’s not a dire repair, there’s a good chance your home will still be able to sell in the current market. Be sure to look closely at what the return on investment will be if you do decide to make improvements to your home.
MORE OPTIONS ON THE HORIZON
As homeowners watch the market soar, it’s likely that inventory will start to catch up. Homeowners will follow the trend and put their own homes for sale, which will result in more inventory over time. This market flip will put a potential seller in perfect shape to hit a profit on their own home, while landing a lower priced home and mortgage rate. If you’re hesitant to sell due to finding a place, fear not; more homes are coming!
MOVE TO YOUR DREAM HOME
If you’ve been unsure about selling, now is the time to make your move. With low mortgage rates, growing equity, and the ultimate sellers’ market, you now have unmatched purchasing power to find the home you’ve always dreamed of. Whether you want to sell your current home or buy your dream home, Contact me today to get started!
Aloha, and welcome to Hawaii.