What’s Been Happening in Our Market Lately?

Inventory is low in our current market, which makes it a great time to sell. However, there is something sellers still need to be mindful of.

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What’s been happening in our market and the mortgage market lately?

As far as our regular market goes, it’s been business as usual—there aren’t very many houses available. Because there is such a limited supply of inventory, now is a great time to sell your home. If you put your home on the market, it will likely sell quickly and for top dollar.

With so many multiple offer situations happening, we’re seeing houses sell for much more than their list price, which is causing problems with other listed houses not appraising due to a lack of comparable properties. It’s a great time to sell, but it’s also a challenging time for sellers because they have nowhere to go after they sell their house.

If you’re selling your home and are worried about the prospect of having nowhere to move to once it sells, we have a special seller program that doesn’t require you to sell to buy. When you put your home on the market, we can qualify you for both mortgages, do a lower down payment, and do a second mortgage. That way when your home sells, you can pay off the second mortgage without being subject to refinances. Additionally, your offer as a buyer isn’t contingent on selling your old home first, even though you’re still living in it.

There are many different strategic options for sellers out there.

A former client of ours once faced a similar situation in that they weren’t able to qualify for both mortgages once they listed their house. We then made the sale of their home contingent on finding a replacement property. That gave them the peace of mind of knowing they had a buyer while being able to look at other properties. As a seller, they didn’t have to look at 15 offers; they only had to look at three qualified and motivated buyers who were willing to purchase the property at top dollar and wait until everything was in order in the transaction.

On a more festive note, the Easter Bunny will be at our office at 950 Glenn Dr. in Folsom from 10 a.m. to 1 p.m. on Saturday, March 25th. Come on down and hang out with us and get a free picture with your kids! We’ll be serving juice and cookies for the little ones and mimosas for the adults.  

In the meantime, if you have any questions about our market or are looking to buy or sell a home, please feel free to reach out to us. We’d be happy to help!