Regardless of what is going on in the world, the first quarter of 2021 is already bringing an extraordinarily robust real estate market to the table. Here are 5 reasons why you should sell your house now in Irvine instead of waiting, to get you motivated and make your 2021 moving dreams a reality.
Before COVID-19 put a stop to everything for a while, the real estate market in 2020 was off to a great start.
Buyer trust has risen again now that we have a better grasp of best practices and new norms as a result of COVID-19.
However, as we enter the winter months and continue to battle with COVID-19, sellers aren’t lined up as quickly as they typically are. With a lack of houses on the market, now is a fantastic moment to make an impact by filling the hole in your local housing market caused by low home inventory.
Interest Rates Remain Favorable
The Federal Reserve’s decision to decrease interest rates and then maintain that posture all the way into 2021 was by far the most significant source of support for the real estate market in 2020.
This decision provided a stimulating boost to owners and potential buyers, encouraging them to participate in the market rather than avoid it. Some homeowners are refinancing rather than looking for a new home, but lower interest rates are making it simpler for buyers to obtain a better bargain, and they’re trying to take advantage of it.
Demand Is up
The second element of the equation comes with the low house inventory: demand is already high and expanding.
People have rethought their living spaces as a result of COVID-19, and what buyers are looking for in a home has shifted to accommodate the prospect of working from home and being available to their children throughout the day.
Millennials were a group of homebuyers who began to flood the market in 2020. Because of the prominence and strength of the service industry, Millennials are said to have been less affected by employment concerns throughout the epidemic, leading to an increase in interest.
Because many of these people in their mid-20s and 30s are looking for a starter home, the demand for these desirable properties has risen to the top of the market.
Beat the Rush
Winter isn’t normally the best time to sell a house, but 2021 may be an exception to the rule.
Homebuyers’ perseverance has been dampened by the 2020 lockdowns and stay-at-home orders, and they are eager to get back out there and find their ideal home. Preparing to sell your home now puts you one step ahead of everyone else planning to do so when the weather warms up.
Due to the unusual conditions of the previous year, sellers now have a unique opportunity to build buyer interest before other properties are even ready to reach the market.
Give Yourself Time
Most sellers don’t plan ahead of time and end up spending the majority of their time on the market catching up.
You’ll have more breathing room to prepare for the sale as well as throughout the showing and negotiation stages if you start the process now.
Keep in mind that the standard considerations potential buyers will have for how long a home has been on the market are a little hazy at this time because COVID-19 has significantly impacted real estate markets around the world.
Get Ready to Sell Your House Now in Irvine
If you want to gain a leg up on the competition and ready to sell your home right away, call our team of experts at (714) 701-8210 immediately!