Here’s my “Daytime” interview about what’s going on in the current market.
It’s no secret that the housing market is very competitive right now. I recently appeared on “Daytime” to give an interview about what’s happening in the market and what home sellers need to know. Here’s an overview of that conversation, which you can watch in the video above:
It’s no secret that we’re in a seller’s market with a ton of buyers, but is there enough inventory?
No—we definitely need more inventory, especially in St. Petersburg, South Tampa, and the East Lake corridor into West Chase. If you’re thinking about selling your home and you live in one of these three desirable areas, you should act soon.
Besides location, what else are buyers looking for specifically?
Buyers want move-in-ready, turnkey homes. What’s fascinating is that the market has recently shifted to that; 10 or so years ago, everyone wanted a rehab project. Now, they want turnkey properties and will pay a premium for them.
Sellers want to make a lot of money for their homes, but many don’t want to go through the hassle of open houses, updates, and cleaning. Do they have alternative options?
They do! My team has hundreds of buyers looking to purchase in this market. If you reach out to us, we can connect you with someone willing to pay full retail price. For sellers who don’t want the headaches of open houses and showings, we can bring in a select few buyers who are most likely to make a competitive offer. Across the board, homes are selling for an average of 100% of their asking prices, but many buyers are making offers over asking price right off the bat.
What should the next steps be for potential sellers?
Reach out to us here at Team Borham. We’ll evaluate your property, price it appropriately, and market it internally to the buyers we have in our database to find the perfect buyer for you.
Is the market slowing down?
No, not yet anyway. Anything is possible, but it looks like we’re seeing an acceleration of the market. The upside is that there are many buyers who want to buy now before interest rates go even higher. With the lack of inventory, buyers are making aggressive offers.
If you’re looking to sell your home and would like to be connected with one of our ready, able, and willing buyers, or if you have any questions about the market, don’t hesitate to reach out to us by phone or email. We’d love to help you.