Increased Demand. Decreased Inventory: What You Need to Know
As we transition into fall, Front Range real estate is showing no signs of cooling down. Increased demand and decreased inventory is creating a record-setting market, where homes are often selling very quickly. The average days on market across the Front Range has been in the 10 - 20 day range, and even less in some areas.
In addition, the COVID pandemic has not only caused many to rethink what home means to them, but also to re-evaluate desired features that may have been previously considered superfluous. This might include a comfortable home office, gym, or a virtual learning environment. Overall, this has led to an increasing number of people looking to relocate to a new home or area that better suits their needs and lifestyle.
However, even though it’s an excellent time to sell, the lack of inventory leaves a lot of would-be movers feeling ‘stuck’ as new home options appear to be slim.
Fortunately, there are some new solutions and programs that can alleviate these issues...
One game-changing option is 8z Bridge, part of 8z Select. With a Bridge solution, relocators can actually find, buy, and move into a new home before selling their current one. And again, with inventory being so low, the opportunity to move and properly stage a home for sale on the open market could ultimately net a higher price. Additionally, having the opportunity to sell your home after you’ve moved eliminates the hassle of coordinating your schedule around buyers who want to see the home.
For others, selling as fast as possible may be the main priority. Perhaps they don’t want the hassle of putting their home on the market, or a life change means they need to relocate immediately. This is where 8z Instant Sale can be a perfect solution. Instant Sale allows you to quickly get and compare all available cash offers from iBuyers, and decide which (if any) make sense for you. The offers that an iBuyer brings to the table are often much closer to fair market value than sellers might expect, even if price is not the most important factor. For buyers, here are two important tips that can distinguish you in this competitive market.
Get Pre-approved! A pre-approval letter shows sellers that you’re a qualified buyer, helps you stand out from the crowd and earn multiple offers in this competitive market. It also helps you identify your price range, what you’re comfortable with in monthly mortgage payments, and how much you can ultimately borrow.
Connect with the experts! With historically-low interest rates and rising prices, lenders are constantly renewing their standards. To ensure you don’t miss out on any opportunities, I would love to assist you and connect you with a loan officer to make sure you take the right steps to better qualify yourself as a buyer.
The bottom line: in a tight inventory market with high demand, we have solutions for everyone and can help find what’s best for you and your family.
Even if you’re not currently thinking about moving, I would love the opportunity to sit down with you, virtually or in-person (with a mask… we take your safety seriously), to talk about these newer options and answer any questions you may have.
Explore your options: https://8z.com/8z-select/