By now you have likely seen Elon Musk’s prediction that Austin will be ‘the biggest boomtown that America has seen in 50 years.’
But what does that mean? We believe that there has never been a better time to sell your house (if you have somewhere to go)!
Here are answers to the top questions we are getting about current market conditions.
1. Why are sellers getting so many offers over the asking price?
Our housing inventory across Central Texas is unbelievably low and the desire to be in Central Texas is at an all-time high, so simple supply and demand is at play. We’ve also seen historically low interest rates, which means buyers can afford “more” for their money.
The New York Times shares some insight!
2. Where do I go once, I sell?
Good question! It’s tough to be a buyer in this market. But if you have some flexibility and want to cash out, you can find a rental for 6-9 months and let the market calm down a bit (we hope) or if you’ve been considering relocating (Costa Rica is calling) you can get top dollar for your property NOW! We have a few other tools at our disposal to take some anxiety out of the process, including using some cash offer vendors. These programs can be a lifesaver in our current market!
3. I own rental property should I sell?
Sell it. Sell it right now. Stop reading and call us!
4. How much can I get for my home?
Many homes are selling for 10-20% or MORE above their asking price, and that asking price is 10-20% higher than it was this time last year. Homes within 20 miles of downtown are receiving multiple offers, many over 10 offers and some over 50. Are you curious what your home would sell for? Do you have a “make me move” price? Call us. Seriously, call us/DM us/Text us!
5. How long does it take to sell a home?
Normally we’d tell you 30-45 days but, since January, the number of days from listing to closing and selling is averaging UNDER 15 DAYS!! And since it’s a seller’s market you can ask for what’s called a leaseback where you get to stay for a few weeks to 60 days after the closing. This means, you get your money in less than 30 days, but breathing room to move.
6. What do I need to do to get my home ready?
Hahahaha Nothing. But seriously nothing, clean it up and go out of town for the weekend.
7. What about COVID?
We take all precautions—including having it photographed while you are not in the home by a COVID compliant photography service, requesting that realtors who show your home take precautions and ensure their clients do, too.
8. Do I really need a realtor to sell my home?
Yes. Dangers of selling without a realtor include leaving money on the table, opening yourself to lawsuits, and dealing with letting strangers into your home with no accountability. An experienced realtor is invaluable when you are sorting and evaluating dozens offers. As licensed Realtors, we have the knowledge and experience to see through the clutter and negotiate the best deal for you.