It’s a very dynamic time right now in real estate and a great time for anyone interested to jump into the action. Here are five things you should know.
- Inventory Is Low! – There are fewer homes for sale resulting in a limited choice for buyers right now which creates competition for the homes on the market and can push up the selling price. Look at the difference in the number of homes for sale in Fairfield and Westport in May compared to May of 2019! The marketplace is in need of more homes for sale. This creates a huge opportunity for sellers!
- Interest Rates are at an All Time Low! – Although there has been daily fluctuation in interest rates, they have remained extremely attractive. In fact, this week the rate for a conforming loan up to $510,400 has dipped to 2.85% for purchasers with high credit scores and a twenty percent downpayment. So there’s an excellent opportunity for buyers to finance a purchase at an amazingly low rate. This is great news for sellers as well because these low rates make their homes more affordable! Click the image from your phone and download the mortgage app!
- Summer is the New Spring! The real estate marketplace is very busy right now for a few key reasons. Realtors and everyone else in the industry have adapted to working in safe mode, there is pent up demand from the initial pandemic slowdown, and it’s a great time to buy and sell! If you are thinking of buying a home and want to take advantage of the low interest rates and increased home affordability, reach out to me so I can help you get that perfect new home. Sellers, take note of the sample prep list above and the new Raveis Refresh program that’s here to help you with it. Reach out to me, and I will help you to make the process seamless!
- Raveis Refresh Is Here for You!
If you have thought about selling but feel overwhelmed by what needs to happen to get your house ready, fear not! Raveis Refresh is a new service that is here to provide you with nearly anything you need, from help packing, to staging, painting, kitchen or bathroom renovations, and repairs, small to large. The cost is completely deferred until closing, so no worries about that either.
- Real Estate is Expected to Drive Economic Recovery! Did you know that a recent study by the National association of Realtors indicates that the sale of just one home in the US results in an economic boost of $88,416? Because of this, many experts are predicting real estate to lead to the country’s economic recovery.
So there are exciting opportunities for everyone right now, and you can even boost the economy when you make a move to help yourself. Reach out to me anytime so I can help you with your next steps.