A recent poll of Realtors and title agents were asked this very question recently. The returned questionnaires revealed what these industry professionals replies were.
47% – This is obviously the largest response. Current homeowners are concerned that if they do sell their home, they will not be able to find a new home to purchase.
3% of the existing home owners have a mortgage rate which is lower than the prevailing rates.
6% replied that they either have no equity or insufficient equity in their current home.
6% replied that the demand from foreign buyers is taking many of the available homes.
5% say that the first time buyers are purchasing a large percentage of the available homes.
Due to the first three reasons, there is a significant number of existing homeowners who are not willing to put their home on the market. But if you are a homeowner and are not concerned about those reasons, you have a tremendous opportunity in front of you. For home owners who can put their home up for sale today, they have less competition in the market place than at any time in recent history. The results of which should have your home selling quickly and for a higher price than was recently possible.
Now I you are reading this on my website, odds are good you are investigating moving to an active adult community. And for the most part, sellers in adult communities are also not affected by these concerns. And even though the active adult communities also have some inventory shortages, we rarely have an issue with finding our clients suitable housing.
Give us a call to discuss your options and 732-598-7700
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