parallax background

Around The Lake

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



Will-My-House-Still-Sell-r-1024x683
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...
New-Homes-May-Have-the-Incentives-Youre-Looking-for-Today-1
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...
Buyers-You-May-Face-Less-Competition-as-Bidding-Wars-Ease
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...
Why-You-May-Want-To-Start-Your-Home-Search-Today-1024x683
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...
Dining room in a modern kitchen
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,...
The-U.S.-Homeownership-Rate-Is-Growing-1024x683
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,...
Selling-Your-House-Your-Asking-Price-Matters-More-Now-Than-Ever-1024x683
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...
A-Window-of-Opportunity-for-Homebuyers-1024x683
Mortgage rates are much higher today than they were at the beginning of the year, and that’s had a clear impact on the housing market. As...
Whats-Causing-Ongoing-Home-Price-Appreciation-1024x683
If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price...
Should-I-Buy-a-Home-Right-Now-1024x683
If you’ve been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I...
Expert-Housing-Market-Forecasts-for-the-Second-Half-of-the-Year-1024x683
The housing market is at a turning point, and if you’re thinking of buying or selling a home, that may leave you wondering: is it still a good...
Vacation homes
You may be someone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time...
If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a...
According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs....
Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening...
If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home...
With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from...
If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as...
If you’re buying or selling a home this year, you’re likely saving up for a variety of expenses. For buyers, that might include things like your down...
Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will...
Are you thinking about selling your house? If so, you may want to make it a priority to start the process soon. According to realtor.com, the sweet spot...
If you’re ready to move up, you may be trying to decide whether you want to buy a home that's already on the market or build...
If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your...
If you’re thinking of buying a home today, you already know that the number of homes available for sale is low. But what does that really 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

The Top Indicator if You Want To Know Where Mortgage Rates Are Heading

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…