As we enter into prime real estate season here in Cleveland, 2018 is already shaping up to be an unusual year. As you are probably aware, the inventory is extremely tight, which means there are less homes available than buyers. It also means housing prices are selling higher!
I’ve been advising potential clients that if they are even entertaining selling their home - now is the time to do it. They could command a higher price, and possibly even go into multiple offers from multiple buyers, which could result in an ‘over asking’ deal. In addition, interest rates continue to remain steady and low, at around 4% and although we may experience a few swings throughout the year, experts believe we will end the year with interest rates around 4.5%.
I’ve heard from many people who say, “I have no where to go!”. True, deciding on your next location is obviously critical. But my advice is don’t let that delay your selling decision completely. If you sell quickly, consider storing your extra things and renting for a while until you figure out where you want to be.
Many of my clients have chosen to do short-term rentals in between home-buying, and they loved every second of it. They were able to experience new lifestyles like living downtown - without making a long-term commitment. There are hundreds of new rentals in downtown Cleveland that all have great new amenities, like shared work & play spaces, dog yards, art galleries, even pet grooming stations! There are many different options available.
The important thing to remember is that this ‘sweet spot’ for sellers will eventually go away, and so will your opportunity for a fast sale at a great price. I can help advise and bridge the gap between selling your home and buying your next. So, what are you waiting for?