Where to Go if You Sell
What’s your number, baby?
Ahem, what I mean is – what is the monetary number that would make you sell your home right now? In the next 30 days? Stay with me.
What would it take, and what are the obstacles?
Because here is the question that everyone is asking. Thought I would look to get some potential ideas and answers out there today.
If home values are on the rise, and if inventory levels are down across the country, why aren’t more people selling? I am so hesitant to parrot what so many people are saying right now.
And this is actually not wrong.
Because when we talk about the market we are really talking about supply and demand first and foremost. We are talking about the number of homes for sale vs the number of buyers looking. This is the basic math, you know? There are definitely other factors, but these are the main ones.
So why are people not selling right now?
I know this is the question. And I have some ideas, for sure. Here are some of the most commonly heard reasons. And they are good reasons! Still, let’s think them through.
- We are all set up to work from home.
- Kids are all set up to go to school from home.
- We are hibernating still. Winter.
- Do not want people bringing Covid into my space.
- And the 10 million dollar question – if there are no houses, where am I going to go if I do sell?
And the times are changing as I type this! My husband got his first vaccine today, and I may not be far behind. So many people are getting this done, and they just released today that new studies say that vaccinated people can be around each other unmasked in enclosed spaces. This is huge!
Do you think this will affect Sellers’ comfort level with having showings on their homes?
Sure! This is probably a couple few months out, but I do think so. Definitely. Therefore more people will be putting their homes on the market.
Guess what will happen to values when supply increases?
The market will cool some. The days of the multiple offers on day 1 will likely be fewer and farther between. We have seen this before in the 2009/2010 era. A hot Seller’s market will never last forever.
Also, Spring is around the corner.
We can open the windows and let that winter hibernation out and the fresh air in. So this is a change, as well! We are getting out more, not dealing with the snow and ice, and we can see the flowers starting to come up. Hibernation time is coming to a close! So that is a factor, too. A biggie!
How about the work from home/school from home?
Well as far as school, we only have a couple more months of that. It looks like across the country the schools that have not yet opened will be opening in the fall. So with kids out of school soon and then back in school next year, does this solve that obstacle? It does!
And if you are already working from home, couldn’t you work from anywhere for a few months? For a healthy payday?
Where would you go?
So what if you could sell in the next month for a very nice return, and put your stuff in storage for a few months? Maybe get a plush airbnb wherever you want? Then when we see more inventory mid-summer/fall, buy your dream home then?
It may seem like a lot of work, and maybe it would require some real effort. But if you could get 15-20% more right now than you could this time last year (or will likely be able to in 4-6 months) would you consider it? That is a LOT of profit.
This is the kind of thing that we are talking about right now in our office. With the goal being to maximize our profits as sellers and get the best deals as buyers, could this be the perfect time to make this shift, and do it creatively?
Is this convo different than the SELL SELL SELL that we have tuned out!?
I think it is. We love to think stuff through, and we specialize in solutions, not rhetoric.
We are nerdy about the solutions!
I want to talk to you about this unique and probably short-lived time that is perfect for Sellers to make that move. If this is interesting to you as well, please give me a ring at 540.294.5005 or shoot me an email.
This is a big opportunity, a major moment in time. Let’s see how this could potentially work for you!