Market Report May 2022

Dear Neighbor,

It’s true—maintaining an oversized home as you prepare for retirement can be stressful. After a while, cleaning a large house and spending more money on updates just doesn’t make sense. Now you’ve decided to sell, but like most homeowners, you’re not sure where to start.

You want to get your home sold without a whole lot of stress and worry—and do it fast. That’s why you deserve the guidance of someone with experience in the field. Like you, I live in Heritage with my family and I know the neighborhood very well. As you prepare for your transition, here are the top things to know about the Heritage real estate market:

Mortgage Rates Are Climbing

If you are a first-time seller and thinking of moving
to a home that will better fit your needs, now is the time to act. Waiting will most likely result in a higher mortgage rate on your purchase. With a higher mortgage rate, your monthly payment will also be higher. These rates will add up overtime. In fact, experts are confident that rates will continue to rise over the next 90 days. If selling is on your mind, then it would be practical to sell now before an increase in inventory that will certainly impact the competition of the spring housing market.

Housing Inventory Has Increased

As spring arrives, the inventory of homes tends to increase. If you’re a seller, it is the ideal time to capitalize and leverage your home instead of waiting for your competition to hit the market. According to the National Association of Realtors, inventory has increased for the first time in eight months. More buyers are looking for homes than the amount of homes being listed. There
is still a high demand that sellers are able to fulfill. If
you look at the big picture, the opportunity you have
as a seller today is unprecedented. Last year was a hot sellers’ market. This year, inventory is even lower, and that means an even bigger opportunity for you. Even though finding your next home in a market with low inventory can be challenging, is that concern worth passing on some of the best conditions sellers have ever seen? As sellers and buyers in this spring market, there is value in acting quickly as supply and demand of homes is always shifting.

Home Prices Will Rise

Home prices are based off of an ever-changing supply and demand. In Housing Report, realtor.com explains, “During the final two weeks of the month, more new sellers entered the market than during this same time last year. . . . However, with 5.8 million new homes missing from the market and millions of millennials at first-time buying ages, housing supply faces a long road to catching up with demand.” Therefore, home prices will continue to appreciate. Prices are expected to continue their climb at a moderate pace and will most likely not depreciate. As a home buyer, it is vital to recognize that waiting to buy a home later in the year will result in paying higher prices. If you are ready to move now, you have a wonderful opportunity in front of you.

As a Heritage homeowner, what does this mean for you?

Well, if you’re thinking about selling in the next 12 months, now is the time to start preparing for the market.

In addition to working as an agent, I am a homebuilder. Meaning, I don’t just sell homes, I build them. That means I can help you with any repairs that may need to be made prior to going on the market, and work through items that might come up during the home inspection.

You will benefit from my real estate expertise as I give you step-by-step support and clear communication along the way. You’ve worked hard for what you’ve earned, and you deserve to capture your equity without a lot of stress and heartache. With my ROI- based property updates, highly targeted pre-listing marketing, and a systematized approach, you can rest easy knowing you are in good hands.

If you’re thinking about selling your home in the next 12 months, call me for your Strategic Marketing Consultation

817-888-0683

We will cover your goals and my unique approach to getting you the highest possible price in the fewest days on market.