Monday, July 31, 2017 / by Tom Nickley
Why Sellers Are in the Driver's Seat Right Now
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Right now in Central Florida we’re seeing an extremely hot market for sellers. But what exactly does this mean?
As you might have guessed, there are a lot of benefits.
First of all, this kind of market means that sellers have the ability to price aggressively. This all comes down to supply and demand, and demand is at an all-time high.
Sellers right now are able to price up to 20% over market value because of how few homes are available. In fact, supply continues to decrease to the two months we’re seeing now.
Obviously, pricing will also be affected by the appraised value; however, this kind of situation is still hugely beneficial.
Also, multiple offer situations are extremely common right now. They can often lead to the best deal since buyers are being forced to compete with one another for the limited number of homes available.
"Ultimately, sellers are in the driver’s seat."
We’re seeing short inspection periods, cash offers, and other strong offers in general.
Ultimately, sellers are in the driver’s seat. With as hot as competition between buyers is right now, it’s become easier for sellers to negotiate things like lease backs, even sometimes free of charge. Getting more earnest money than normal is also very common right now.
If you’re thinking about selling your home or would like to have a better idea of what it could sell for right now, feel free to reach out to us.
Also, if you have any other questions or would like more information, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
