Lots of people are hoping that as we enter spring, more home owners will put their homes on the market. Many areas all over Los Angeles – and the rest of the country for that matter – have a low supply of homes for sale. Meanwhile, many buyers are waiting to take advantage of today’s low interest rates but find very little on the market to choose from.
Everyone is keeping an eye out for more inventory and more sales activity over the next few weeks. Since both prices and interest rates are expected to inch higher in 2014, buyers are ready to buy NOW. Sellers, on the other hand, are concerned that if they sell their home too quickly, they’ll end up homeless – stuck in the same predicament as all other buyers: few homes to choose from in a very competitive market.
The best solution for sellers who want to take advantage of a strong market might be to place a “Seller’s Home Sale Contingency” on the sale of their house. This will give the seller more time – with less pressure – to find a replacement home. Selling your house while demand is high is a good thing, just make sure you have a good Real Estate Agent to protect you from selling without a solid back-up plan.
For more information about the Seller’s Contingency, contact Tony at 310-497-4117 or [email protected].