First of all, a very happy St Patrick's Day to you. As this is a day when we all traditionally hope to find a pot of gold, I can point potential home sellers to a major opportunity that exists right now!
Low inventory of available homes for sale continues to be a significant factor in Iron County.
If you're selling, low inventory means that you have less competition from other homeowners with similar properties, affording you greater market visibility and the ability to hold your asking price more robustly. Indeed a nicely maintained and well specified home that compares favorably with competitors stands a good chance of attracting multiple offers, possibly even going beyond the asking price.
For buyers there's less choice at any given price point and, quite possibly, some difficulty in finding exactly the right specification of home. Despite this, however, buyer sentiment continues to be a very high level.
Looking ahead to later this year, it will be interesting to see how that sentiment sustains if the Fed carries out its intention to continue to raise interest rates, just as it has done this week. While these interest rates don't necessarily have a direct effect on mortgage rates, they could start to erode affordability of homes for some people later this year, so there's another incentive to list your home right now!
As always, we'd be delighted to discuss how best to take advantage of the current market in your own situation and create a tailored strategy to get your home sold in the quickest time for the best return. Why not contact us today.
