If your in the market to sell there are a handful of important factors to consider.
1. We are heading towards a recession.
2. Americans on average are spend an additional $500 more a month.
3. The Federal Reserve is spiking interest rats to curb inflation.
4. Interest rates have doubled, and will continue to seek at least two more rate hikes.
5. Buyers are sitting on the sidelines, with much less confidence and purchasing power then they once had.
6. There is still no better time to sell, BUT prices are coming back down and no longer seller at inflated prices.
7. We are seeing many homes with price reductions and going beyond delayed negotiations.
So what does this mean for you a seller?? Well, you can’t expect to sell at inflated prices, or at prices 20-30% above home values in your area anymore, otherwise your house is going to sit. You are going to have to set realistic expectations on prices if you want to sell now, bc as rates rise, you will continue to miss opportunities from buyers taken out by higher interest rates and our continued path to a recession.
If your in the market to sell and want to explore non traditional routes such as working with a cash buyer like myself, give us a call today 585-299-9709