Inventory this week is still extremely low–frustrating many qualified buyers (and Realtors). Along with many of my colleagues I have been mailing letters and contacting homeowners to tell them about the amazing seller’s market that we are witnessing. I’ve had some success, but this has not generated nearly enough new inventory to satisfy the enormous buyer demand right now!
My message to anyone thinking about selling a home this year involves something I call “Facebook fear”:
- Many buyers are scrambling trying to secure homes purchases right now in fear of more competition later this year (primarily from Facebook employees)–along with the possibility of higher interest rates. It’s hard to imagine that demand can increase any more from where it is right now.
- Many home sellers are waiting to list their homes until after Facebook goes public in May. If you need to sell your home this year, don’t wait—you’ll also be waiting varying amounts of time before Facebook employees can cash out and sell their stock. Right now is the best sellers market we’ve seen in our local market in years.
All homeowners wanting to sell this year—especially those with homes that have imperfect features or less then ideal locations—can benefit from buyer demand right now.