Business owners I’ve talked to recently in varying industries had a common take on the first month of 2021: It was very positive and set a good tone for the year for many.
The residential real estate world was no different. January was beautifully busy even with the record low inventory levels. Right now, there are fewer than 780 homes on the market in the entire Sioux Falls metro area. This time last year, there were 1,219.
January saw interest rates tick up for the first time in a very long time, which could continue into the first quarter.
We are still seeing an increase of people moving into our area, and more commonly now we are seeing them bring family and friends with or following shortly behind. This coupled with our local buyer demand drives the need for more housing inventory.
But, sellers, where are you? What is making you not want to sell right now?
Well, here’s part of the problem. Lack of inventory creates more lack of inventory.
Current homeowners are not seeing what they want to move into, so they are not putting their homes on the market.
But, sellers, how do you know the next home for you isn’t out there? You probably don’t. That’s because the amount of pocket listings, a term relating to homes for sale but not actively on the Multiple Listing Service, or MLS, has increased significantly.
Houses are selling, but if you’re only casually searching online, I guarantee you are not seeing all that is out there.
So prepare to sell. And then don’t sell yourself short.
Homes are worth more than ever in our market. It’s what happens when limited inventory meets wildly low interest rates.
That’s why it’s more important than ever to hire an experienced licensed Realtor® to help you navigate these changing times.
You’ve probably seen nationally how some large tech companies are trying to replace the standard licensed agent business model. The process, as I have heard from colleagues in different markets, is very hands-off. The client receives limited service; the tech company receives access to listings.
But maybe there’s something about this that still sounds appealing even though you know you’d be giving up a higher price. And I have a guess why:
- Getting your home on the market seems overwhelming. Stuff, stuff and more stuff.
- You don’t know what projects to start or finish for ultimate value.
- Kids. Cleaning. Kids. Cleaning. On repeat. Sounds AWFUL.
- You don’t particularly want a slew of strangers in your home right now.
- The thought of worrying about getting the value you want and/or the entire process of waiting for the buyer to sign at the closing table seems uber-stressful.
I get it. All of it. But you don’t have to call the big tech company. All you have to do is call us.
Amy Stockberger Real Estate’s Instant Offer program takes out the prep, the stress, the waiting game and the strangers through the house. It also gives you the luxury of staying in the home after closing for a few days, so you are not trying to move two houses in one day.
It’s a similar product to what the big companies offer. But it’s so much better. Our approach comes with full support and a systemized repeatable excellence process. As well as lifetime support. It’s what you’re going to need during and after the transaction that can make all the difference. Click here to get more information to see if your home qualifies.
We also have a new solution coming out. This will involve the same stress-free process but comes with a community give back cherry on top, as well as more business for local businesses. We love helping our local business owners thrive. Stay tuned as we launch our new program. To be put on the waiting list to be in the know first, click here.
You still should think about listing, though.
In some situations, the Instant Offer is an ideal solution. But this is still your investment we’re talking about, and I usually will encourage you to let us help you maximize it.
Think of it as a legal transaction. If you were doing something basic, it might make sense to use a low-cost online tool to get it done. But if you were in a legal case that could cost you more than $280,000 — otherwise known as the average price as a home sold in Sioux Falls today — you probably wouldn’t trust an online legal service.
Experienced licensed real estate agents who are trained to negotiate day in and day out, know the market norms, procedures, accurate stats, competition coming up and current sales being negotiated that all help leverage the best outcome for a seller.
Even if the difference is $5,000 or $10,000, that is still a lot of money. It easily can be put toward making your next home into your dream home. And it could even be more than that. Multiple offers have become the norm in our market — we sold nearly 60 percent of our listings at or over list price in 2020. And our region is blessed to have a lot of amazing and skilled Realtors® who have done the same for their clients. Let us go to work for you.
Is there a price you would sell your home for today? Call me to discuss options. Also if you want a fabulous Seller’s Guide to help navigate the process, click here.
As always, if you or someone you know is making a life change, we would love to be of service.
Here is what one of our happy clients had to say about her family’s experience:
“Amy is amazing. Not only just with housing but with the entire relocation process. They are all-inclusive. I told Amy she is like my best friend/the best concierge I’ve ever known. She found me a piano teacher, an OB, a pediatrician, dentist, gymnastics program, softball. She knows everybody. And her network system — I don’t even know what to say except it’s massive, and it’s made our move very, very smooth.”
Click here if you are considering a relocation to Sioux Falls or the surrounding area or want a free relocation packet full of nuggets of info about the best of Sioux Falls.