In today’s current real estate market, if you are putting a home on the market, be ready to sell.
Currently, in Laramie County, around 100 listings are available. A healthy market is about 300 to 500. As a buyer, the market is highly competitive. As a seller, many buyers have to pay a premium price for their homes. Therefore, if you have been thinking about selling and thought, you could put it on the market to gauge interest. The likelihood of it being considered by multiple buyers is high.
We recommend that if you are not ready to part with your home, don’t list it. Also, if you are selling your home to use the funds for a new house, have your real estate professional put your home’s sale on the contingency that way you can secure your next home. And this way, you are not left homeless. If buying another home after selling the one you are currently in is your situation, we recommend visiting with a lender and getting prequalified. Then inform your agent to know what you are looking for and what you can buy. They can then bring you some options to select from for buying. Begin the purchase of buying before you list your property if you are at all concerned.
When the housing inventory is tight, it is vital to be mindful of your next steps if you plan to sell. Do you have that figured out, if not, what can you do to be prepared. In these situations, you may feel inclined to increase your selling price to what you think it is worth but still not what the market is saying. Consider the market analysis your real estate professional performed because a “right price” approach makes an enormous difference in the selling process. If you need help or would like to visit about your options, please give us a call. We would love to visit with you, 307-635-0303.