selling your home

Are Short Sales & Foreclosures Around The Corner?

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Many are concerned that the housing market will experience a wave of foreclosures and short sales. The fact of the matter is, we aren’t in a housing bubble like we were 15 years ago. There are also fewer homeowners in trouble this time. According to the Wall Street journal, in the last housing crash in 2008, an estimated 9 million people lost their homes to foreclosure or short sale. Fast forward to 2021, the total number of mortgages still in forbearance stood around 1 million.

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First Impressions Will Sell Your Home

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Although the market is hot, and homes are selling quickly, it is still important to make a good first impression on potential buyers. Starting with price.

Pricing is crucial, as it is one of the first things buyers will notice. If you price your home right, it’ll draw attention from competing buyers. If you price too high, it could put you at a disadvantage by discouraging prospective buyers from making an offer.

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Today’s Real Estate Market

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As we enter the second half of the year, one thing is clear; the current Real Estate Market is one for the books. In 2020, the number of homes available to the marketplace fell to an all-time low and continued into the first half of 2021. However, in the last few months, more inventory is starting to enter the market for sale each day. This is good news for buyers that haven’t found the home that fits the bill yet.

Even though homes are coming up for sale each day, inventory remains a challenge in most states. With the lack of inventory coupled with high demand, high buyer competition and bidding wars are still a factor. Buyers are going above and beyond to make sure that their offer stands out from others.

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