Lack of inventory has been a double edge sword for the real estate industry the last few years. With historically low interest rates, and buyer demand high, low inventory means elevated home values and bidding wars for properties. While this works for sellers, it continues to create challenges for buyers. So how can we help you convince would be sellers to list?
This year will be another banner year for sellers, with demand still outpacing supply. The spring season has already started locally, and once again properties are moving quickly with multiple escalating offers, making it potentially a great time to sell.
While predicted to rise slightly in 2018, rates still remain near record lows. However for those purchasing, even a slight increase can make an impact. For potential sellers who opt to wait to list, rising interest rates could mean stable or declining home values in a year. Now may be a good time for both sellers and buyers to take advantage of the low interest rates.
Changes to the tax code that impact mortgage interest and property tax deductions will have an impact when filing 2018 taxes, especially for those who live in communities with higher property tax rates. Now may be a good time for certain homeowners to sell.
Finding Sellers, A few ideas…
- Mine your database
- Offer home assessments
- Host a home selling informational event with your preferred lender
- Contact FSBOs or expired listings
- Set aside 1-2 hours a day for cold calls
- Attend networking events
If potential sellers are concerned about where they will go once they sell-here are some fun options to share with them!
As always, we are here to work with you and your clients.
The material provided in this newsletter is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is not without errors.