With interest rates doubling since last year, many buyers have paused their home search, waiting to see what the markets do next. On February 1st, the Feds raised the rates again, yet only by 25 basis points, this still will affect many 1st time home buyers, or buyers looking to downsize and on a fixed income.
Is it still a good time to Sell?
With continued inflation and recession talk, although somewhat conflicting, one would think home prices would be softening a bit, and in some cities they are, but not everywhere. The economy still seems robust, and down the shore, we have many buyers using cash to buy their next home.
Many homeowners wait for Springtime and nicer weather to put their homes on the market, but then you’re competing with numerous sellers who all think it’s best to wait until Spring. If you’re thinking about selling your home, I would highly recommend you get your home prepared to show and on the market now. You can watch this video next, on preparing your home for the market. You can also head over to my website at HomeDowntheShore.com and find all kinds of free information on preparing your home for sale.
The real estate market often lags behind other markets with price fluctuations, but with the Feds suggesting additional rate hikes and their next meeting in March, it’s my opinion, if you’re wanting to sell in 2023, now’s the time to do it.
I’ve put together a Sellers guide to home selling and you can grab your free copy, I’ll put the link below. Keep in mind in a softening market, you want to list your home at a compelling asking price, make minor repairs and have it show ready. You may also want to consider a pre-listing inspection. If you’re in the Cape May County area and want to work with me to sell your home or just discuss the market a little further, give me a call.
If you’re not in Cape May County, I can still help you. Through our award winning relocation department, I can connect you with a top producing agent in your hometown. I’m happy to be your resource and answer any questions you may have. Have a great day and Thanks for watching!
Download My FREE SELLERS GUIDE👉http://bit.ly/2OBeE0O
