If you’re considering selling your home in Concord, now may be the best time to do it despite the current state of the housing market. Despite high interest rates and a dip in mortgage applications, there are several advantages to selling your home in Concord right now.
- Less competition
With fewer people applying for mortgages and buying homes, there are fewer sellers on the market. This means less competition for your home and a greater chance of a successful sale. Additionally, potential buyers may be more willing to consider your home if there are fewer options available to them.
- Motivated buyers
While there may be fewer buyers in the market, the ones who are actively looking for a home are likely highly motivated. They may have a pressing need to move or a desire to take advantage of current interest rates before they increase even further. This means that if your home is priced appropriately, it could be a highly attractive option for motivated buyers.
- Potential for a faster sale
With less competition and motivated buyers, there is a greater potential for a faster sale. If you price your home competitively and it meets the needs and desires of a potential buyer, there’s a greater chance of a quick and efficient sale.
- Opportunity for negotiation
While homes may be selling for 3% to 5% below asking price in the current market, this doesn’t necessarily mean that you’ll get less for your home. With motivated buyers and potential for a faster sale, there is also an opportunity for negotiation. You may be able to work with a buyer to come to an agreement that benefits both parties.
- Increase in home values
While the current housing market may seem challenging, there is still potential for home values to increase in the future. By selling now, you can take advantage of the current market conditions and potentially avoid a downturn in the future.