Real estate headlines can portray a market that seems so hot, so competitive, that you wonder — is it like it nearby me? Is it like that locally?
Spring 2021 Real Estate Market – A COVID Rebound
Taking a look within the ranks of our brokerage, KALEO Real Estate Company, our listings are moving quickly. A property listed on Friday is opening up escrow on Monday after the seller has countered the multiple offers.
Our latest testament of this sellers market is that one of our agents received 58 offers in one weekend. This listing was located in Riverside, California and she received almost 6 dozen offers on a single home. About one year ago in March 2020after the stay-at-home order was announced, the uncertainty of the housing market was palatable. Listings were sitting without showing requests, properties were falling out of escrow, and home buyers that were full speed ahead in January 2020 said “reach out to me when things are back to normal”.
Fast Forward March 2020 to April 2021
During a listing appointment, a seller might ask whether their home can sell for $50,000 over what their neighbor’s sold for last week:
We would rather underpromise and overdeliver. We can’t make guarantees, but we do know that this real estate market is surprising even real estate veterans who have seen decades of housing market ups and downs. We like to price competitively to get the most eyes and offers in on your property, but ultimately list price is your prerogative.
So could your property sell for $50,000 more than your neighbor’s? It could possibly! If your home had significantly more upgrades, a larger lot, a better location or view, or other distinguishing features, then it could obtain a higher sales price.
What Motivates A Sale?
Although money can be a big motivator when considering selling, you typically are motivated that by more than your Net Proceeds and bottom line. Life, family growing, marriage, divorce, jobs, and more can all push a sale to the top of your priority list. This is an amazing time to sell an investment property, second home, or property that you’ve inherited. Why? Because in all those situations you are not physically moving or finding a replacement property.
If you are selling your primary residence, the one you sleep in every night, then we can help you map out your your sell-buy situation.
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