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• mastermind-sellsellSell Your Home

Twilight of the Seller’s Market

Work with Jeff!

Real Estate Broker, Freedom Realty

The Market is a long way from equilibrium, and for most sellers in SouthWest Michigan thats good news for liquidity, but luke warm news for appreacaition,.

Twilight of a Sellers Market in SWMI

Sellers have enjoyed record sales prices, quick sales and steady appreciation for the last few years. Is it still the best time to sell?

Markets have trends and the fluctuate, most markets have speculation designed to make the market more stable, but in real estate speculation makes the market less stable. This is because the value of the asset bin sold in the real estate market corresponds to some thing of real value ie “real property”. Value of that asset is driven by demand for housing and demand for investment out performs inflation but is very stable. Real Estate is that.

Its CardI B’d

Anyhow interest rates are Cardi B ‘d meaning that they are stuck up. They are not going down. The Demand is such that despite the rates going up there’s still a great need. However sicken interest rates are up it is less monthly payment buyers can afford, this is s downward force on home sales prices in Southwest Michigan its is no different.

Markets are Local

-Real Estate markets are partly hyper local, location location, but also Global, as access to money affects everyone who can Get a Mortgage.

If you are selling your home, you still have the demand of the people who need to buy, plus the access to money so you will still have what I’d consider a sellers market in Southwest Michigan.

Sellers Are Still on Top

Here’s why:

• We have not seen consecutive periods of negative growth.
• here is still a decent absorption rate.
• In many markets there is still only a one month supply of homes on the market.
• Days on market is still less than 90.
• We Get 95% of list price.

So it is still a great time to sell in terms of demand for housing, the exponential growth of the last decade is still there in equity, even the recent downturn has barely touched it.

If you bought in the last three years, certain markets may suffer from negative equity because of interest rates, if the seller then needs to take out a loan with higher rates.

Jeff Bucholtz

Jeff Bucholtz is a Real Estate Broker based in Three Oaks MI.

He has sold more than 100 Million Dollars in Real Estate.

He is the Broker and owner of Freedom Realty.