The number of RCFEs for sale today is significantly lower than the high buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association of Realtors:
“There is no shortage of hopeful, potential RCFE buyers, but inventory is historically low.”
When the demand for RCFE homes is higher than what’s available for sale, it’s a great time for RCFE owners to sell their house. Here are three ways low inventory can help you win if you’re ready to make a move this fall.
- Higher Prices
With so many more RCFE buyers in the market than RCFE homes available for sale, buyers are frequently entering into bidding wars for the RCFEs they want to purchase. This buyer competition drives RCFE home prices up. As a seller, this can definitely work to your advantage, potentially netting you more for your RCFE when you close the deal.
- Greater Return on Your Investment
Rising prices mean RCFE homes are also gaining value, which drives an increase in the equity you have in your RCFE. In the latest Homeowner Equity Insights Report, CoreLogic explains:
“In the second quarter of 2020, the average (RCFE) homeowner gained approximately $9,800 in equity.”
This year-over-year growth in equity gives you the ability to put that money toward a down payment on your next RCFE home or to keep it as extra savings.
- Better Terms
When we’re in a sellers’ market like we are today, you’re in the driver’s seat if you sell your RCFE. You have the power to sell on your terms, and buyers are more likely to work with you if it means they can finally acquire their dream RCFE.
So, is low RCFE inventory a big deal?
Yes, especially if you want to sell your RCFE at the perfect time. Today’s market gives RCFE sellers immense negotiating power. However, it won’t last forever, especially as more sellers return to the RCFE housing market next year. If you’re considering selling your RCFE, the best time to do so is now.
Bottom Line
If you’re interested in taking advantage of the current sellers’ market, contact us today to determine your best move. We will create a comprehensive strategy, tailored to your needs and requirements. Call us TODAY for your complimentary consultation.
If we can be of assistance with your purchase, sale or lease of an RCFE or other property please call us today for your FREE Consultation:
Michelle (949) 397- 4506 & Melvyn (949) 500-3630
