Is now the right time to sell your home and make a bundle?
FORT MYERS, Fla. – Home prices are skyrocketing. It’s a tough market for buyers, but for sellers, it could be your time to get rich.
FGCU Professor and Economist Dr. Shelton Weeks describes the market as, “frothy and frantic.”
“It’s a very busy time in our market,” Dr. Weeks said.
Weeks said families are flocking to Southwest Florida and they need houses.
“Anything that is well-positioned is snapped up, very quickly,” Dr. Weeks said and real-estate agents are noticing.
“It’s amazing. I’ve never seen anything like it,” Starlink Realty Agent Nancy Brown said.
If you’ve considered selling your home, should you jump into the action now?
“It is a good time to sell if you know where you’re going next. Because if you sell your house today. Where are you going to go?” Dr. Weeks said.
Just like you want people fighting over your home, once you sell, you could be one of those buyers fighting for your next home.
“Or you could be going down to one of our local dealers and buying yourself a motorhome if you can’t find a house,” Dr. Weeks said.
If you did find your next home, you probably won’t have too much trouble selling your current one in this market. But there are some things you can do to make sure you get the best offer possible.
Dr. Weeks said don’t let buyers think they need a contingency for a home inspection.
“If there are obvious defects, you want to have those corrected. Make sure that the home is presentable. Listen to your agents,” he said.
“Many of the sellers that I’ve represented or come in contact with and spoken to, they’re deciding to sell their current home because of the current market,” said Starlink Realty Agent Michael Cantasano.
This helps another problem: lack of materials and labor.
“We are running out of homes,” Brown said.
So if you have a place to go and your affairs in order sell now before it’s too late.
“We could all be wrong and it could end more quickly,” Dr. Weeks said.
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