Selling a home is an emotional process that comes with significant lifestyle changes. Make sure it’s the right time for you and your family.
If you’re selling a home in San Francisco, make sure you are well prepared. The San Francisco market remains very competitive. It’s a great time to sell!
Single Family Home Inventory is Low
The theories behind our currently low housing inventory are widespread. The answer depends on what’s going on in each neighborhood, and even then, it may not be crystal clear. It’s paramount to dig deeper since a number of factors are probably working together. Despite the decrease in inventory, pending and closed sales are actually up. Buyers are out there looking for homes, and we’re seeing bidding wars in many neighborhoods. In fact, the market remained strong despite restrictions put in place to navigate everyone’s safety during the pandemic.
Interest Rates are Down
One of the reasons demand in our market is so high is that they can borrow money inexpensively. In fact, we’re seeing buyers enter the market when they haven’t been willing to do so before, in part because interest rates are so good right now. Many buyers are looking for a home because the need to move is strong enough to compete with other buyers. If you want to move but your money is tied up in the equity of your current house, Compass Bridge Loan can help you secure funding to facilitate the transition to a new home — like for a down payment or mortgage payments. Once your current home sells, you can use the proceeds to pay the bridge loan back. Through Compass Coming Soon, we can network with other agents to get first-hand information before homes hit the market to ensure you have an advantage over the competition!
Buy and Sell Your Home at the Same Time
With the single-family inventory at a low, if you’re thinking of trading city life for suburban areas, you might consider securing that new home before listing your current home. With interest rates at all-time lows, some of our sellers have opted to pull cash out of their existing homes in order to buy their next home. This gives you the best possible chance of buying and selling seamlessly. If you’re relocating for a new job or other reason, Compass Bridge Loan can afford you the freedom to move on your own terms and secure a new house when you need to, without having to wait for your old home to sell.
Waiting to sell will only increase the competition in the next quarter. The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell. If you want to get top dollar for your property, NOW is the time to sell.