Category Archives: Selling a Home
Will My House Still Sell in Today’s Market?
If recent headlines about the housing market cooling and buyer demand moderating have you worried you’ve missed your chance to sell, here’s what you need to know.
Buyer demand hasn’t disappeared, it’s just eased from the peak intensity we saw over the past two years.
Buyer Demand Then and Now
During the pandemic, mortgage rates hit record lows, and that spurred a significant rise in buyer demand. This year, as rates increased due to factors like rising inflation, buyer demand pulled back or softened as a result. The latest data from ShowingTime confirms this trend (see graph below):
The orange bars in the graph above represent the last few months of data and the clear cooldown in the volume of home showings the market has seen since mortgage rates started to rise. But context is important. To get the full picture of where today’s demand stands, let’s look at the July data for the past six years (see graph below):
This second visual makes it clear that, while moderating compared to the frenzy in 2020 and 2021, showing activity is still beating pre-pandemic levels – and those pre-pandemic years were great years for the housing market. That goes to show there’s still demand if you sell your house today.
What That Means for You When You Sell
The key to selling in a changing market is understanding where the housing market is now. It’s not the same market we had last year or even earlier this year, but that doesn’t mean the opportunity to sell has passed.
While things have cooled a bit, it’s still a sellers’ market. If you work with a trusted local expert to price your house at the current market value, the demand is still there, and it should sell quickly. According to a recent survey from realtor.com, 92% of homeowners who sold in August reported being satisfied with the outcome of their sale.
Bottom Line
Buyer demand hasn’t disappeared, it’s just moderated this year. If you’re ready to sell your house today, let’s connect so you have expert insights on how the market has shifted and how to plan accordingly for your sale.
Why It’s Still a Seller’s Market
As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you should know the market is still anything but normal.
Even though the supply of homes for sale has been growing this year, there’s still a shortage of homes on the market. And that means conditions continue to favor sellers today. That’s because the level of inventory of homes for sale can help determine if buyers or sellers are in the driver’s seat. Think of it like this:
- A buyers’ market is when there are more homes for sale than buyers looking to buy. When that happens, buyers have the negotiation power because sellers are more willing to compromise so they can sell their house.
- In a sellers’ market, it’s just the opposite. There are too few homes available for the number of buyers in the market and that gives the seller all the leverage. In that situation, buyers will do what they can to compete for the limited number of homes for sale.
- A neutral market is when supply is balanced and there are enough homes to meet buyer demand at the current sales pace.
And for the past two years, we’ve been in a red-hot sellers’ market because inventory has been near record lows. The blue section of this graph highlights just how far below a neutral market inventory still is today.
What Does This Mean for You?
Ed Pinto, Director of the American Enterprise Institute’s Housing Center, gives a perfect summary of what’s happening in today’s market, saying:
“Overall, the best summary is that we’ll move from a gangbuster sellers’ market to a modest sellers’ market.”
Conditions are still in your favor even though the market is cooling. If you work with an agent to price your house at market value, you’ll find success when you sell your house today. While buyer demand is softening due to higher mortgage rates, homes that are priced right are still selling fast. That means your window of opportunity to list your house hasn’t closed.
Bottom Line
Today’s housing market still favors sellers. If you’re ready to sell a home in the San Antonio area, let’s connect so you can start making your moves.
What’s the Deal with Instant Cash Offers?
Are you being bombarded with postcards and emails with instant cash offers to buy your home? What’s the deal?
Well, housing inventory is currently at an extreme low, there is strong demand from home buyers, and home prices have been seeing double digit increases, making this a great time to sell your home!
If you have received an unsolicited letter from someone saying that they want to buy your home, it pays to talk to a trusted real estate sales professional before making such an important decision about the sale of what is probably your largest asset. Many of the letters and postcards being sent out to homeowners are being sent by investors, and iBuyers, who are institutional investors, looking to buy properties at wholesale prices so that they can resell them at a higher price.
Even if your home needs updates, or has deferred maintenance, there are lots of options to help you capitalize on your equity and sell your home for the most money possible in today’s market, without having to sell to an investor or iBuyer, so that you can maximize the potential return from the sale of your home.
Before you think about selling to an investor for less than your home is worth, it pays to talk to real estate professional who can give you honest insight into the current value of your home and give you options to sell your home quickly, for more money and less stress.
With such strong demand for housing inventory from home buyers and rising home equity, there are many options available to help home owners to get their home sold for the most potential net, even if the home needs updates or improvements. These options include programs that will help home owners update their home with so that it will appeal to the most potential buyers, with the finishes and features that today’s home buyers are looking for, with no upfront costs. This helps the homeowner sell the home for more, and net more at the end of the day. Other options, such as Knock Home Swap, allow homeowners to move in their desired time frame, take their time to find and buy their desired new home, move into it and update their current home if needed to help it sell quickly for more with no upfront costs.
If you are thinking of selling a home in the San Antonio areas and want to know how much your home is worth and to discuss programs such as instant cash offers, getting your home ready for market with no upfront costs, buying a new home before selling your current home and other innovative options, contact Trudy Edwards, REALTOR with True SA Real Estate Team, KELLER WILLIAMS Heritage.
Trudy Edwards is a Knock Certified Agent and is also certified in Keller Offers Cash Offers program and Keller Offers Ready to Sell program.
Spring Home Buyer and Home Seller Guides Available
Our latest home buyer and home seller guides provide the most current information that can make buying a home or selling a house a confident decision for your family.
To get insight into the current real estate market that will help you make an informed decision to take the next steps simply request your free home buyer or home seller guide through the links below.
Whether you are ready to buy or sell a home right now, or thinking about when would be the right time for you to make a move, there are a lot of things to consider. Our Guide to Buying a Home and Guide to Selling a Home offer insight into what’s happening in the housing market today, what you need to know before you buy or sell a home, what to expect and how to reach your real estate goals.
If you are a home owner curious about whether this could be the best time for you to sell your home and what you need to know about selling in this current market this Home Seller Guide will provide you with valuable insights to help you make an informed decision and take the next steps. Request your Free Guide to Selling Your Home with information on the real estate market today at http://SanAntonioHomeSeller.info
Whether this is your first time buying a home or you want to learn more about the home buying process, the home Buyer guide will offer you valuable insights into successfully buying a home in today’s market. Request your Free Home Buyer Guide at http://SanAntonioHomeBuyer.info
If you are thinking of buying or selling a home in the San Antonio metropolitan area, and want to learn more about to safely buy or sell home at this time and work with a trusted San Antonio REALTOR® throughout the process, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage, at (210) 595-9801, or by email at TrueSARealEstate@gmail.com.
Why Now Is a Great Time To Sell Your House
As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market.
Record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates are motivating homeowners to make a move that addresses their changing lifestyles.
In fact, recent data from realtor.com shows a larger share of homeowners are planning to list their houses this winter. So, that means more homes are about to hit the market, which will lead to more choices for buyers too.
According to George Ratiu, Manager of Economic Research at realtor.com:
“The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter.“
If you’re thinking of waiting until the spring to sell your house, know that your neighbors may be one step ahead of you by selling this winter. If you want to stand out from the crowd, this holiday season is the best time to make sure your house is available for buyers. Here’s why.
Sellers Are Still Firmly in the Driver’s Seat
Historically, a 6-month supply of homes for sale is needed for a normal or neutral market. That level ensures there are enough homes available for active buyers (see graph below):The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows the inventory of houses for sale sits at a 2.4-month supply. The level of inventory of homes for sale in the San Antonio area was only 1.7 months in October 2021. This is well below a neutral market.
What Does That Mean for You?
When the supply of homes for sale is as low as it is today, it’s much harder for buyers to find homes to purchase. This drives up competition among buyers, who then submit increasingly competitive offers to win out against others in the home search process. As this happens, prices rise and your leverage as a seller rises too, putting you in the best position to negotiate a contract that meets your ideal terms.
And while the low housing supply we’re facing won’t be solved overnight, sellers this season should move quickly to maximize their potential. As the data shows, with more prospective sellers planning to list their homes this winter, selling sooner rather than later helps your house rise to the top of a holiday buyer’s wish list so you can close the best possible deal.
Bottom Line
Listing your home over the next few weeks gives you the best chance to be in front of buyers competing for homes this holiday season. Let’s connect today to discuss how you can benefit from today’s sellers’ market.
If you are thinking of buying or selling a home in the San Antonio metropolitan area, and want to work with a trusted San Antonio REALTOR® throughout the process, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage, at (210) 595-9801, or by email at TrueSARealEstate@gmail.com.
Don’t Wait To Sell Your House
We’re in the ultimate sellers’ market right now. If you’re a homeowner thinking about selling, you have a huge advantage in today’s housing market.
High buyer demand paired with very few houses for sale makes this the optimal time to sell for those who are ready to do so. Whatever the move you want to make looks like, here’s an overview of what’s creating the prime opportunity to sell this summer.
High Buyer Demand
Demand is strong, and buyers are actively searching for homes to purchase. In the Realtors Confidence Index Survey published monthly by the National Association of Realtors (NAR), buyer traffic is considered “very strong” in almost every state. Homebuyers aren’t just great in number right now – they’re also determined to find their dream home. NAR shows the average home for sale today receives five offers from hopeful buyers. These increasingly frequent bidding wars can drive up the price of your house, which is why high demand from competitive homebuyers is such a win for this summer’s sellers.
Low Inventory of Houses for Sale
Purchaser demand is so high, the market is running out of available homes for sale. Danielle Hale, Chief Economist at realtor.com, explains:
“For most sellers listing sooner rather than later could really pay off with less competition from other sellers and potentially a higher sales price… They’ll also avoid some big unknowns lurking later in the year, namely another possible surge in COVID cases, rising interest rates and the potential for more sellers to enter the market.”
NAR also reveals that unsold inventory sits at a 2.4-months’ supply at the current sales pace. This is far lower than the historical norm of a 6.0-months’ supply. Homes are essentially selling as fast as they’re hitting the market. Below is a graph of the existing inventory of single-family homes for sale:At the same time, homebuilders are increasing construction this year, but they can’t keep up with the growing demand. While reporting on the inventory of newly constructed homes, the U.S. Census Bureau notes:
“The seasonally‐adjusted estimate of new houses for sale at the end of April was 316,000. This represents a supply of 4.4 months at the current sales rate.”
What Does This Mean for You?
If you’re thinking of putting your house on the market, don’t wait. A seller will always negotiate the best deal when demand is high and supply is low. That’s exactly what’s happening in the real estate market today.
Bottom Line
As vaccine rollouts progress and we continue to see the economy recover, more houses will come to the market. Don’t wait for the competition in your neighborhood to increase. If you’re ready to make a move, now is the time to sell. Let’s connect today to get your house listed at this optimal moment in time.
5 Reasons to Sell Your House This Spring
When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring.
Here are five reasons why this is the perfect time to sell your house if you’re ready.
1. There’s high demand from homebuyers.
Buyer demand is strong right now, and buyers are active in the market. ShowingTime, which tracks the average number of buyer showings on residential properties, recently announced that buyer showings are up 51.5% compared to this time last year. Daniil Cherkasskiy, Chief Analytics Officer at ShowingTime, notes:
“As anticipated, demand for real estate remains elevated and continues to be affected by low levels of inventory…On average, each home is getting 50 percent or more requests this year compared to January of last year. As we head into the busy season, it’s likely we’ll push into even more extreme territory until the supply starts catching up with demand.”
When your house is positioned to get a ton of attention from competitive buyers, you’re in the best spot possible as the seller.
2. There aren’t enough houses for sale.
Purchaser demand is so high, the market is running out of available houses for sale. Recently, realtor.com reported:
“Nationally, the inventory of homes for sale in February decreased by 48.6% over the past year, a higher rate of decline compared to the 42.6% drop in January. This amounted to 496,000 fewer homes for sale compared to February of last year.”
The National Association of Realtors (NAR) also reveals that, while home sales are skyrocketing, the inventory of existing homes for sale is continuing to drop dramatically. Houses are essentially selling as fast as they’re hitting the market – in fact, NAR reports that the average house is on the market for only 21 days.
It’s this imbalance between high buyer demand and a low supply of houses for sale that gives sellers such an advantage. A seller will always negotiate the best deal when demand is high and supply is low. That’s exactly what’s happening in the real estate market today.
3. You have a lot of leverage in today’s market.
Clearly, many more people are interested in buying than selling this spring, creating the ultimate sellers’ market. When this happens, homeowners in a position to sell have the upper hand in negotiations.
According to NAR, agents are reporting an average of 3.7 offers per house and an increase in bidding wars. As a seller, this means the ball is in your court – so much so that you can use your leverage to negotiate the best possible contract. Demand is there, and now is the perfect time to sell for the most favorable terms.
4. It’s a great way to use your home equity.
According to the latest data from CoreLogic, as of the third quarter of 2020, the average homeowner gained $17,000 in equity over the past year, and that number continues to grow as home values appreciate. Equity is a type of forced savings that grows during your time as a homeowner and can be put toward bigger goals like buying your next dream home.
Mark Fleming, Chief Economist at First American, notes:
“As homeowners gain equity in their homes, they are more likely to consider using that equity to purchase a larger or more attractive home – the wealth effect of rising equity. In today’s housing market, fast rising demand against the limited supply of homes for sale has resulted in continued house price appreciation.”
5. It’s a chance to find a home that meets your needs.
So much has changed over the past year, including what many of us need in a home. Spending extra time where we currently live is enabling many of us to re-evaluate homeownership and what we find most important in a home.
Whether it’s a house that has the features suited to working remotely, space for virtual or hybrid schooling, a home gym or theater, or something else, selling this spring gives you a chance to make a move and find the home of your dreams.
Bottom Line
Today’s housing market belongs to the sellers. If you’ve considered making a move but have been waiting for the right market conditions, your wait may be over. Let’s connect so you’ll be positioned to win when you sell your house this spring.
If you are interested in learning more about selling your home in today’s market request your Free Seller Guide at http://SanAntonioHomeSeller.info
Is This the Year to Sell My House?
If one of the questions you’re asking yourself is, “Should I sell my house this year?” consumer sentiment about selling today should boost your confidence in the right direction
Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why.
According to the latest Home Purchase Sentiment Index from Fannie Mae, 57% of consumer respondents to their survey indicate now is a good time to buy a home, while 59% feel it’s a good time to sell one:
“The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month.”
As you can see, many still believe that, despite everything going on in the world, it is still a good time to sell a house.
Why is now a good time to sell?
There simply are not enough homes available to meet today’s buyer demand, and they’re selling just as quickly as they’re coming to the market. According to the National Association of Realtors (NAR), unsold inventory available today sits at a 2.3-month supply at the current sales pace, which is down from a 2.5-month supply from the previous month. This record-low inventory is not even half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory to balance out.
With so few homes available for buyers to choose from, we’re in a true sellers’ market. Homeowners ready to make a move right now have the opportunity to negotiate the best possible contracts with buyers who are feeling the pull of intense competition when it comes to finding their dream home. Lawrence Yun, Chief Economist for NAR, notes how quickly homes are selling right now, further confirming the benefits to sellers this season:
“The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates.”
However, this sweet spot for sellers won’t last forever. As more homes are listed this year, this tip toward sellers may start to wane. According to Danielle Hale, Chief Economist at realtor.com, more choices for buyers are on the not-too-distant horizon:
“The bright spot for buyers is that more homes are likely to become available in the last six months of 2021. That should give folks more options to choose from and take away some of their urgency. With a larger selection, buyers may not be forced to make a decision in mere hours and will have more time to make up their minds.”
Bottom Line
If you’re ready to make a move, you can feel good about the current sentiment in the market and the advantageous conditions for today’s sellers. Let’s connect today to determine the best next step when it comes to selling your house this year.
New Program Solves the Problem of How to Buy a House Before Selling Your Current House
Many homeowners want to sell their home and buy a new home but wish that they could buy their new home and move in first prior to putting their home on the market.
If your home no longer meets your needs and you have asked the question of how to buy a house before selling your current house, a new program available in limited markets across the country and just introduced in the San Antonio area may be the solution you are looking for.
Unlike traditional home sales where sellers can miss out on their dream home while waiting for their current home to sell, with the Knock Home Swap™ eligible homeowners can buy and move into their new home before selling their existing home. Knock Home Swap helps reduce the stress sometimes experienced when selling a house and buying a house at the same time because approved homeowners can make a strong, non-contingent offer on the new house and experience less uncertainty throughout the process.
One of the challenges typically experienced by homeowners who are selling a house and buying a house at the same time is that once they have a contract on their home they may not have a lot of time to choose and buy their new home. When they are under contract their agents will have to carefully coordinate and pay attention to the closing and occupancy timelines as a delay with one buyer will affect the other. The Knock Home Swap program removes that stress because the homeowners will have plenty of time to locate, buy and move into their new home before listing their current home for sale.
Another benefit of the Knock Home Swap program is that it provides eligible homeowners up to $25,000 in funds to prepare their current home for sale to help it attract more buyers, attract higher offers and sell quickly. Working with a Knock certified agent and the Knock concierge team the homeowners will select contractors from Knock’s network of prescreened contractors or choose their own to complete the improvements prior to listing the home for sale with their Knock certified agent. Knock will advance up to $25,000 to pay the contractors for the home improvements which will be repaid to Knock once the home has sold.
One element of the program that makes it perfect for today’s market is that because homeowners will be able to put their home on the market their home after they have moved out they won’t have to worry about having people coming through their home for preparation or showings while they are still living there. This means that the risks of exposure to COVID-19 through the home sale process are reduced for the homeowners.
The Knock Home Swap program adds additional convenience for the homeowners in that the entire lending, buying, and selling process is streamlined and the homeowners will only have one mortgage to pay while they are living in their new home and selling their old home.
If you are a homeowner in the San Antonio area and have been seeking answers as to how to buy a house while selling your own home, the Knock Home Swap program could have the answers you have been looking for.
To learn more and see if you and your home qualify for the Knock Home Swap program contact, Knock certified agent, Trudy Edwards, REALTOR with Keller Williams Heritage or click here to learn more
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