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June 07, 2021 | Posted in:

How to Make the Most of Today’s Housing Market

With interest rates low and the supply of housing limited, today’s real estate market is stacked in favor of sellers. Whether you’re looking to buy or ready to sell, here are some tips to make the most of your situation.

 

Buyers

 

Be flexible:

With so many buyers in the market, it’s essential that you are flexible on your offer and your move-in timing. Be prepared to make a bid over the asking price.

 

Get pre-qualified:

Being able to demonstrate to a lender that you can afford the mortgage amount is key to locking up a deal.

 

Don’t overlook ‘stale’ listings:

While others concentrate on homes that just come on the market, you can focus on older listings. If you can overlook some of the flaws of these properties and you have an appetite for renovating, you might get your dream home at just the right price.

 

Sellers

 

Staging:

Although it might be tempting to sell ‘as is,’ buyers who stage a home typically receive more offers, and 1% – 5% more in dollar value.

 

Timing:

Keep your home on the market for at least two weeks. Don’t take the first offer just because it’s your asking price or higher. Provide enough time for numerous buyers to see your property so you can choose the best offer and the right buyer.

 

Selectivity:

Look for a low-risk buyer, preferably one who can offer cash and doesn’t have to sell their home in order to buy yours.

 

 

Further Resources:

  • What You Need to Know About Taxes When Selling Your Home in This Market
  • 6 Home Ownership Tax Benefits
  • Understanding the Home Gain Exclusion
  • Ask Your CPA: How Much Mortgage Can I Afford?
  • Mortgage Points and Taxes: What You Need to Know
  • Vacation Home Tax Benefits
Author:

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