Do you know what a SELLER’S MARKET is? It occurs when demand exceeds supply, or there are more buyers seeking to purchase properties than there are available properties on the market. This often leads to multiple buyers interested in a single property, resulting in bidding wars.
In a SELLERS’S MARKET, properties priced well and look good, don’t stay listed for too long. Many properties sell in just weeks
For much of the last decade, the real estate market has been….well, not really in the greatest shape. Home sellers have had to do everything short of staging a three-ring circus in the front yard in order to attract buyers and throwing in their firstborn child to seal the deal.
Over the course of the past few months, though, there’s been quite the turnaround, to the point wherein many parts of the country we’re now in what is known as a ‘true’ SELLER’S MARKET.
The drop in interest rates, which allows more people to qualify to buy homes, or to afford more expensive homes has been a major factor.
The BEST way to make sure you’re taking full advantage of a SELLER’S MARKET is to work with an experienced local REALTOR. Your REALTOR will help you know just how high you can price a property, and what offers are worth a second look.
Homeowners, the real estate market on Padre Island is HOT and now is a great time to sell. Interest rates are low and there are more buyers than inventory. Let us help you find your perfect gem!
~ Cheri Sperling
