Founder and CEO of Kris Lindahi Real Estate said the homeowners are waiting for nothing but loss because it is the best time to sell their properties at the best prices ever they can get in the market. Kris Lindahi expressed this to Marketwatch.
The demand for houses has been increasing over the years, which is favorable for the homeowners to sell their properties at higher rates they could ever get. The demand is high, while the supply of houses is very low in the current times. The Pandemic gives the situation of this much difference between demand and supply of houses rise.
According to the National Association of Realtors report, the upsurge in house prices has been observed by 14% from last year. It indicates the high time of the market for homeowners. The equity share of homeowners has increased by 30% in the market, said ATTOM Data Solutions. The real estate market is behaving so quickly; the prices are high, demand is soaring, equity has expanded; all these factors have made up a way forward for the homeowners and agents. Marc j. Jenkins, one of the best selling agents, said, I can sell anyone’s house just within six hours in the given market situations.
Still, homeowners are hesitant in selling the properties because of uncertainty about their movement to the new houses they have not bought yet; the future prices can go much higher relevance to the current prices. That is why Homeowners are reluctant to sell the Properties they currently own for the profits they fear to be Lost in search of new Property.
Sonia Figueroa, one of the leading agents, told Marketwatch that the homeowner should play safe by booking a new home before selling the current one. This is how they can be assured about the new home without any delay.
While the rest of the sellers can go for another very useful option, as the seller has more power to negotiate the rates and terms and conditions of transferring property, he can opt to leave the house after buying the new one. Until he finds a new house to live in, he won’t leave the place for the buyer. In most cases, this negotiating power lies with the seller. So, by following this way, sellers with the utmost surety can go to sell homes. Rent-back-agreement can help the seller; in case payments are delayed by the buyer or not finding the new house within a specific period, the property will be back to the seller as it was before. All this will go in vain if the opportunity of availing the substantial profits is not taken seriously by the desired one. The Pandemic has played devastation with all the economic sectors but turned the table dramatically favoring homeowners.
