If you’ve wanted to sell your home or property in Richmond, VA, but have held off for one reason or another, we are here to tell you that NOW is the best time to do so!
It’s not just our team that is saying this—many Richmond, VA, real estate agents and brokers are monitoring the current housing market conditions and have come to the same conclusion.
The factors responsible for the current situation include, but are not limited to the coronavirus, the unstable economy, constant layoffs of employees from workplaces, and the adoption of working remotely.
Below, we are breaking down some of the primary reasons why now is the best time to sell in Richmond, VA!
Massive Demand for Homes and Properties
Demand is one of the most significant factors contributing to increased property sales in Richmond, VA. Since Covid started, many U.S. states have banned certain activities, including hosting open houses. At that initial phase, home sales were relatively low. However, real estate agents noticed a rebound when activities were restored. They hypothesized that this was due to a huge demand for properties which has continued to soar and are continuing to advise sellers to seize this opportunity.
The huge demand for homes and properties has led to low inventory. It’s the law of the land that supply and demand determine the price of a home. In this case, low inventory means sellers can demand higher prices, meaning that homeowners are making huge profits on their investments!
The National Association of Realtors (NAR) observed an increase in home prices in various markets during the first three months of 2020, and that trend has continued through today. All indicators point towards increasing home values in Richmond, VA, remaining constant, even when the market stabilizes.
Low Mortgage Interests
Homebuyers in the Richmond, VA, area are benefiting from low mortgage interest rates. Low-interest rates are a determining factor for home buyers as they decide whether to buy a home or not, However, low-interest rates also favor sellers as lower interest rates only heat up the demand in the real estate market that much more.
Low-interest rates are even more beneficial to those selling a home because they can take advantage of the rates when they go to buy their next home! When you factor in the significant increase in home prices, you may be surprised just how much you can afford after the sale of your current home. Combining the profit you make from the sale of your current home and taking advantage of the low mortgage interest rates can lead you to buy your dream home. Interest rates as of late seem to be on the rise and fast! It is best to take action today before it’s too late!
Sell Your House With Us Today!
With these reasons, you should be convinced that you shouldn’t wait any longer before selling your property in Richmond, VA. We specialize in getting our clients the most amount of money in their pocket when selling their homes by leveraging our proprietary listing marketing systems that create major demand for your home. Plus our signature guarantees such as our “Zero Commission Program” allow for the seller to pay zero dollars in commission! We will negotiate on your behalf to have the buyer pay the cost! If you are considering making a move, please don’t hesitate to call us now at 804-655-065.