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Three Ways Low Inventory Is a Win for Wisconsin Home Sellers

By
Real Estate Agent with Woodland Management Service / Woodland Real Estate, KW Diversified #1 in Forest Land Mgmt

Three Ways Low Inventory Is a Win for Wisconsin Home Sellers

Three Ways Low Inventory Is a Win for Sellers

The number of houses for sale today is significantly lower than the high buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR):

“There is no shortage of hopeful, potential buyers, but inventory is historically low.”

When the demand for homes is higher than what’s available for sale, it’s a great time for homeowners to sell their house. Here are three ways low inventory can help you win if you’re ready to make a move this fall.

1. Higher Prices

With so many more buyers in the market than homes available for sale, homebuyers are frequently entering into bidding wars for the houses they want to purchase. This buyer competition drives home prices up. As a seller, this can definitely work to your advantage, potentially netting you more for your house when you close the deal.

2. Greater Return on Your Investment

Rising prices mean homes are also gaining value, which drives an increase in the equity you have in your home. In the latest Homeowner Equity Insights Report, CoreLogic explains:

“In the second quarter of 2020, the average homeowner gained approximately $9,800 in equity.”

This year-over-year growth in equity gives you the ability to put that money toward a down payment on your next home or to keep it as extra savings.

3. Better Terms

When we’re in a sellers’ market like we are today, you’re in the driver’s seat if you sell your house. You have the power to sell on your terms, and buyers are more likely to work with you if it means they can finally move into their dream home.

So, is low housing inventory a big deal?

Yes, especially if you want to sell your house at the perfect time. Today’s market gives sellers immense negotiating power. However, it won’t last forever, especially as more sellers return to the housing market next year. If you’re considering selling your house, the best time to do so is now.

Bottom Line

If you’re interested in taking advantage of the current sellers’ market, contact our local real estate professionals today to determine your best move.

 

 

compliments of KCM https://www.keepingcurrentmatters.com/2020/10/29/three-ways-low-inventory-is-a-win-for-sellers/


Comments (10)

Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Bob Crane this is an ideal time for folks to sell....the demand is great....

Oct 29, 2020 06:48 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Bob - a wise seller knows how to maximize this time that can benefit everyone in the transaction with proper planning and upfront preparation.  The result is good for everyone.   

Oct 29, 2020 07:18 AM
John Pusa
Glendale, CA

Hello Bob Crane these are very important reasons for home sellers to sell and benefit from currently home buyers demands.

Oct 29, 2020 07:49 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

We are seeing multiple offers on many of the listings in our area, but not all, buyers are still picky and demanding, so you have to be wise how you price your home.

Oct 29, 2020 08:54 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Bob your three points are spot on. 

Not to long ago just about every single offer my borrowers were making include Seller Paid Closing Costs.  But right now not a single one is asking for that, because it would probably be an automatic rejection of their offer.

Oct 29, 2020 09:23 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning, Bob. Vital information that your sellers need to be aware of. Thank you for posting.

Oct 29, 2020 09:35 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Bob Crane  Great time to sell indeed especially for sellers who have a second home and do not have to enter into the housing market 

Oct 29, 2020 10:15 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Bob and great information to share here in the Rain with us.  Make it a great day!

 

Oct 29, 2020 10:33 AM
James Dray
Fathom Realty - Bentonville, AR

Morning Bob.

I'm waiting for the turn around.  Even if I lose a little equity, it will be worth it.

Oct 30, 2020 12:54 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

It is, indeed, a great time to be a home seller - in Wisconsin and North Carolina!

Great information, Bob. Have a wonderful week ahead...

Nov 01, 2020 07:51 PM