No matter what noise you’re hearing out there in the media right now, there are a couple of facts that you need to know about our real estate market.
First, there is a major shortage of inventory for first-time homebuyers. At the same time, we have an abundance of inventory for buyers who are looking to upgrade to a bigger and better home. If you’re able to get the message out to homeowners who have those homes that first-time homebuyers are looking for, those homeowners will realize that they have equity, they can sell their current home for a premium, and they can start building more equity in a bigger, better, and newer home.
They’ll then be able to get a great deal on the home they purchase next because they’ll be buying in a buyer’s market. On the day of closing, they will have increased their cash net on their sale and get a huge discount on their new home. That could equal as much as a $60,000 to $80,000 swing just because of the market conditions. As they move forward, that cash equity will only increase and will be twice what it would have been if they would have stayed in their current home to begin with.
So get out there and get that message out to those owners of first-time homebuyer homes that they have a huge opportunity in the market. If you have any questions for me in the meantime, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.