Claudia Coronado • April 4, 2021
Buyer Competition is good news for Sellers
To Sell or Not to Sell. That is the question a lot of homeowners are asking these days.
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What does a seller's market means. Well, in a nut shell, there's more demand for homes than there is supply. With so many buyers looking for homes to purchase and so few houses available today, there’s a substantial increase in bidding wars, and homes are selling fast. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), on average, houses are receiving over four offers from buyers and they’re selling in less than three weeks.
So what does that mean for you. Well 1st and foremost, we are definitely in a sellers market right now. Like anything else, however, no one can look into their crystal ball and tell you how long this will last. If you have outgrown your home, now might be the right time to consider selling. Getting the most out of your current homes value and finding something that works better for you might be the best way to take advantage of this sellers market. Using the equity in your home now to help you purchase something you might otherwise never consider could be the path to your forever home.
If you’re thinking about it, let’s connect today so you can sell your house while the market is in your favor.
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Selling your house without an agent can cost you a lot more than what you think you're saving
Hello Neighbors, Are you looking to move soon and not sure whether you should rent or buy your next home? It can be hard to know what the right move for you might be. Sometimes people are in a rush to buy because they feel like it’s what they are supposed to do. Others don’t feel like “wasting” money on rent every month. When it comes down to it sometimes people are in a certain phase of their lives where renting is just what makes the most sense. Here are some situations that can help you decide if you should buy or rent your next home. When to rent: If you’re just starting out and still learning to become financially independent. Maybe you’re a college student and would prefer to live off campus. Renting a small apartment nearby would probably be a good idea. It can allow you to gain some financial independence and learn how to manage your money. Renting can also allow you to understand what monthly costs will look like. Another reason to consider renting is if your job involves a lot of travel, moving or your job isn’t permanent. We have a number of tenants who move to LA from out of state or even out of the country for work purposes. For them renting a small home for the time being is what makes sense and might be what works for you too. When to buy: If you are financially ready. This is THE MOST important thing to consider. You may be ready to buy a home, but if your finances aren’t in order you may have to hold off. You know you’re financially ready if you have at least 15% saved for a down payment. You will also need additional money saved for any new furniture or renovations you may need or want. Aside from having the money save up, if you have a steady job and you’re looking to stay in the area for the long term buying your next home may be the way to go. Buying a home is a big commitment and you should be sure you’re 100% ready before you jump into it. You should be prepared to live in the same home/area for the next few years. If you’re still not sure what move is best for you give us a call and let us help you decide. When it comes down to it, whether you’re looking to rent or buy, at CIC Properties we’re here to help.
Hi Neighbors! What an interesting week we’ve had here in sunny So Cal. I don’t know about you, but midterm elections had me doing my election voting homework last minute. Just like the good old days back in High School, studying for that final just before class. Then just as quickly as the elections came and went, the tragic news from Thousand Oaks hit. My deep felt most sincere condolences go out to the victims and families who are going through the worst nightmare imaginable. We know life can be fleeting, but when our children are caught in the crossfire, we are left with more questions than answers. While everyone has an opinion, it’s seems like coming together in agreement has proven more difficult with each new mass shooting we hear about. But because variety is the spice of life, the Santa Ana winds made an appearance creating more tragic news for our neighbors in Malibu, Calabasas and NorCal. My prayers are with the brave firefighters and first responders out there. Not an easy task they’re faced with, yet they rise to the challenge every time. Yes, it’s been an eventful week. But if this week has taught me anything, it’s that we are strong. We are fighters and we are not alone. Our family, our friends and neighbors, someone’s always ready to lend a helping hand. All we need to do is ask.
