Is it Still a Hot Real Estate Market?
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If you’re thinking about selling your home, you probably want to know if we’re still in the middle of a hot real estate market. The answer is yes…maybe. The real estate market is still hot, but the heat is conditional. As buyers deplete the area home inventory, the remaining buyers are still ready and willing to buy. But, of course, that’s assuming that they can get what they want.
Some Areas are Still Hot
The market is hot because buyers are focusing on the same homes and the same communities. As a result, real estate agents are cataloging multiple bids. They’re pushing buyers to make their best offers. They’re shunning protracted bidding games.
Sellers are marketing through “whisper listings.” That’s a non-listed listing where they sell a home before adding it to a formal real estate listing network.
Certain homes are hot because:
- Buyers want homes in specific communities, and they’re willing to pay the price to get what they want.
- As the pandemic winds down, some potential buyers want homes that within commuting distance of major cities.
- Most buyers want a move-in ready home. They want a home that’s a flawless, blank canvas where they can imagine themselves living their best life.
Some Areas Aren’t So Hot
A recent article in the CT Post mentioned that real estate sales were virtually flat in several Connecticut towns. But, of course, they didn’t name the towns, so they’re leaving it up to you to figure it out.
In general, buyers aren’t looking for a fixer-upper home. That’s the primary reason why realtors encourage you to repair and upgrade your home before putting it on the market. If your home isn’t market-ready, there’s still a chance that you can sell it. Some home buyers are ready to buy your lived-in home, but you’ll have to meet their terms.
- A top-to-bottom inspection: Before they buy your fixer-upper, they’ll want to scrutinize everything, roof-to-foundation. Of course, buyers do that anyway, but your home will have to fit perfectly into their future dream home scenario.
- A different type of mortgage: If your home needs upgrades, the buyer might have to qualify for a rehab mortgage such as an FHA 202 (k). That’s a loan that includes funds for fixing up a fixer-upper.
- Full disclosure of adverse conditions: Before you close on your home, you must sign a discloser statement revealing any problem the buyer’s inspector might have missed. This might motivate fixer-upper buyers to change their minds.
Consider the Next Level Option
We understand that the real estate market is a bit crazy at Next Level Home Buyers. However, if you choose not to get caught up in it (hot or not,) consider our more straightforward option: Let us buy your home.
We buy your home As-Is. So you don’t have to deal with home repairs, upgrades, and frantic real estate agents. Instead, we make buying your home a fast, easy process.
Contact Next Level Home Buyers
If you want the more straightforward option for selling your home in this hot real estate market, give us a call. You may reach us at 860-368-0343 or complete our contact form.
WE BUY HOUSES IN ANY SITUATION:
Behind on Payments
- Death of a loved one
- Liquidating assets
- Inherited property
- Job loss
- Bad mortgage
- Medical Bills
- Extensive repairs
Need To Sell Your Home Fast? Expensive Holding Costs?
Learn More About Our Fair & Fast Cash Buyout
At Next Level Home Buyers, we buy homes regardless of the condition. If you can’t wait months to sell your home and you don’t want pay a huge real estate commission, complete the information form below or call us at 860-368-0343.