Ready to sell your home, but uncertain how to compete as a buyer in today’s hectic housing market?
When you find your dream home, move in right away with NEO Home Loans’ Trade-Up program! Trade-Up will allow you to make an all-cash offer, closing quickly on your new home and beating out other buyers. Once you get settled into your new home, you can take your time selling your old one and make sure you get the best possible deal for it. Here are your unique advantages as a seller in today’s market and how to get started with Trade-Up.
YOUR ADVANTAGES AS A SELLER
1. Your Home Will Sell Quickly at a Good Price
Homes are selling in an average of 17 days! This data comes from a recent Realtors Confidence Index released by the National Association of Realtors (NAR). The report goes on to show that the average home sold is receiving 4.4 offers. More offers will allow you to get the best possible price for your current home.
2. Buyers Currently Prefer Existing Homes
Your current home has become more desirable than a newly constructed home. The National Association of Homebuilders’ latest Housing Trends Report shows that buyers’ preferences have recently changed. (see graph below)
The change is most likely because buyers don’t have to deal with the uncertainty of getting materials and appliances. They can also rest assured they can move in right away, making your home more valuable than ever!
3. The Perfect Time to Upgrade
Existing homeowners have received a record amount of equity over the past year. Data from CoreLogic shows that the average equity gain is $33,400 between the first quarter of 2020 and 2021! That increase in equity along with today’s low mortgage rates will allow you to maximize your purchasing power. Make sure to take advantage of today’s rates fast. Experts are predicting them to rise soon. Nadia Evangelou, Senior Economist and Director of Forecasting at National Association of Realtors, explains,
“Nevertheless, as the economic outlook for the United States looks brighter for the rest of the year, mortgage rates are expected to rise in the following months.”
If you’ve been on the fence about selling your current home, now is the time. Make the most out of your current home and move into your dream home before rates rise.
With a pre-approval from NEO Home Loans and an all-cash offer from Revive, you will be perfectly positioned to compete with any other buyer and have the chance to secure your dream home.
If you would like to learn more about the Revive Trade-Up program or start the mortgage pre-approval process, contact us to request a consultation.