The Wisdom of Selling in The Current Market

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Many North Carolinians are considering if the timing is correct for selling their home, a second home, or simply selling land they have held on to. The answer to that question is simply yes because we are currently experiencing what is called a “seller’s market”.  Does that mean that you can demand prices above a Comparable Market Analysis value? No, not really.

What it means is that when priced properly your odds of quickly selling are increased. The market, being what it is just before setting an asking price, determines what price buyers will tolerate. When demand is high (as it is now) there is more competition for the available listings, which is favorable. Often when competing buyers vie for the same property listing the purchase offers are high, at the asking price, or at times even over the asking price. 

This of course is not the only reason the answer to the question, is it time to sell, is yes. First, I want to point out that Interest in our region is on the rise. Many are finding that they may work remotely and can do so where the scenery is great, the culture is welcoming, and the tranquility is worth the time it takes to make their venti coffee at home.

Purchasing a pre-loved primary, or secondary, home for many is the best option because it is the quickest way of walking through a door. Those that consider building on unimproved land will usually find that regional builders are unavailable for about a year. Improving land and building a home may also come at great expense, delay, and stress. These are some things that some buyers are not willing or able to experience.

The next reason is subsistence farming was for years commonplace in our area. This has changed over time. This subsistence lifestyle meant families lived and worked common land. Now homes have been converted to rentals and the land, well, is just land with no crops. Many times a large portion of the income from the property, if there is any income, is used to pay the taxes. Now that the market interest is high.

The prospect of selling those homes and land makes sense. A tax burden is removed, liability and maintenance costs are avoided, and money is made available to reinvest. Not to mention that regionally there is an impact as well. The more money we have the more freely we spend, the more households that exist means there are more families spending, and all this eventually leads to more are economic development and job opportunities. 

I hope I have convinced you that now is the time, and I want you to know that Regency Properties is a leading Real Estate Firm ready to assist you in every step of the process. We are your neighbors and you matter.

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