1. Tight Inventory
There are more buyers than homes on the market. The result – homes are selling fast. “We’re seeing high traffic open houses, multiple offers, escalation clauses and quick sales when an accurately priced home in a good location hits the market”, says Anthony Beiler, President Beiler-Campbell Realtors.
2. New Buyers Are Entering the Market
There's been an influx of millennial home buyers as older millennials have had some time to grow in their careers and pay off student loan debt. If your home is considered in the entry-level or mid level price range, expect to have interested buyers eager to move quickly.
3. Low Interest Rates
Low interest rates aren’t just a helpful nudge for would-be buyers to consider your home for purchase. As you look to your next home purchase, you can likely secure a low interest rate as well.
4. You Have Equity
If you’ve been in your home for more than a couple years, you’ve been building equity as the property value increases and you make consistent mortgage payments. The more equity you have in your home, the more profit you'll likely see when you sell the property. That, in turn, can be used for a larger down payment on your next house, other expenses or savings.
Don’t be fooled into thinking an active market is an easy market. On the contrary. A dynamic market is complex and fast paced, making partnering with a trusted professional local Realtor imperative. Selecting a strong Realtor who has eagle-eye attention to detail, industry knowledge and skillful, ethical negotiating practices will ensure a smooth road to settlement.