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Around The Lake

Discover All You Need To Know About Real Estate And Our Surrounding Communities



Foreclosure-Headlines
If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the stories in the media can be pretty...
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Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your...
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It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are...
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If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market...
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If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals,...
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There’s no doubt buying a home today is different than it was over the past couple of years, and the shift in the market has led to...
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There’s no denying mortgage rates are higher now than they were last year. And if you’re thinking about buying a home, this may be top of mind...
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If you’re thinking about selling your house, you’re likely hearing about the cooling housing market and wondering what that means for you. While it’s not the...
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If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a...
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If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home...
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As you look ahead to the winter season, you’re likely making plans and thinking about what you want to achieve before the year ends. One...
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Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around...
Close-Up Of Block With Question Mark Sign On Table
As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines...
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If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years,...
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Rising interest rates have begun to slow an overheated housing market as monthly mortgage payments have risen dramatically since the beginning of the year. This is leaving some people...
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Today’s housing market is different than it was just a few months ago. And if you’re thinking about selling your house, that may leave you wondering what you...
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What Experts Say Will Happen with Home Prices Next Year Experts are starting to make their 2023 home price forecasts. As they do, most agree...
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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...
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According to the U.S. Census Bureau, this year, builders are on pace to complete more than a million new homes in this country. If you’ve had trouble finding...
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One of the top stories in recent real estate headlines was the intensity and frequency of bidding wars. With so many buyers looking to purchase...
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If you’re thinking about buying a home, you likely have a lot of factors on your mind. You’re weighing your own needs against higher mortgage rates, today’s...
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If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market,...
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The desire to own a home is still strong today. In fact, according to the Census, the U.S. homeownership rate is on the rise. To illustrate the increase,...
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There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean...

 

Why Right Now Is a Once-in-a-Lifetime Opportunity for Sellers

If you’re thinking about selling your house in 2022, you truly have a once-in-a-lifetime opportunity at your fingertips. When selling anything, you always hope for strong demand for the item coupled with a limited supply. That maximizes your leverage when you’re negotiating the sale. Home sellers are in that exact situation right now. Here’s why.

Demand Is Very Strong

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), 6.18 million homes were sold in 2021. This was the largest number of home sales in 15 years. Lawrence Yun, Chief Economist for NAR, explains:

“Sales for the entire year finished strong, reaching the highest annual level since 2006. . . . With mortgage rates expected to rise in 2022, it’s likely that a portion of December buyers were intent on avoiding the inevitable rate increases.”

Demand isn’t expected to weaken this year, either. In addition, the Mortgage Finance Forecast, published last week by the Mortgage Bankers’ Association (MBA), calls for existing-home sales to reach 6.4 million homes this year.

Supply Is Very Limited

The same sales report from NAR also reveals the months’ supply of inventory just hit the lowest number of the century. It notes:

“Total housing inventory at the end of December amounted to 910,000 units, down 18% from November and down 14.2% from one year ago (1.06 million). Unsold inventory sits at a 1.8-month supply at the present sales pace, down from 2.1 months in November and from 1.9 months in December 2020.”

The reality is, inventory decreases every year in December. That’s just how the typical seasonal trend goes in real estate. However, the following graph emphasizes how this December was lower than any other December going all the way back to 1999.

why right now

Right Now, Sellers Have Maximum Leverage

As mentioned above, when there’s strong demand for an item and a limited supply of it available, the seller has maximum leverage in the negotiation. In the case of homeowners who are thinking about selling, there may never be a better time than right now. While demand is this high and inventory is this low, you’ll have leverage in all aspects of the sale of your house.

Today’s buyers know they need to be flexible negotiators that make very competitive offers, so here are a few areas that could tip in your favor when your house goes on the market:

  • Competitive sales price
  • Flexible closing date
  • Potential for a leaseback to allow you more time to find a home
  • Minimal offer contingencies

Bottom Line

If you’re thinking of selling your house this year, now is the optimal time to list it. Let’s connect to discuss how you can put your house on the market today.

February 2, 2022
Why Right Now Is a Once-in-a-Lifetime Opportunity for Sellers

Why Right Now Is a Once-in-a-Lifetime Opportunity for Sellers

As you plan out your goals for the year, moving up to your dream home may top the list. But, how do you know when to make your move?
February 9, 2022
Want To Know Where Mortgage Rates Are Heading

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The Top Indicator if You Want To Know Where Mortgage Rates Are Heading. According to the latest survey, the average 30-year fixed-rate mortgage has risen from 3.22% at the start of the year to 3.55% as of last week.
February 15, 2022

Want Top Dollar for Your House? Now’s the Time To List It.

Want Top Dollar for Your House? Now’s the Time To List It. When you’re selling any item, you usually want to sell it for the greatest profit possible.
February 22, 2022

What Every Seller Needs To Know About Renovating This Year

If you’re planning to sell this year, you’re probably thinking about what you’ll need to do to get your house ready to appeal to the most buyers. It’s crucial to…