Thinking about selling your San Jose home? It’s a great time to take the leap! Read on to learn about real estate market trends in the Bay Area that will help you sell faster and for more money.
#1: Sellers are in Control
Over the past few years, the price of real estate in San Jose and the rest of the Bay Area has skyrocketed, fueled by high-paying jobs in Silicon Valley and a consistently high demand for homes. Although prices have begun to level off a bit since experiencing significant increases each year since the Great Recession, they still aren’t going down! Those who opt to sell in today’s market are likely to receive multiple offers (some even above the asking price) shortly after a home is listed.
#2: You Can Save Thousands on Commission
A recent study by the National Association of Realtors showed that FSBO sellers actually held several advantages over real estate agent represented sellers, selling their homes an average of 6 weeks after listing (compared with 10 weeks for represented sales) and without having to reduce the initial sale price. Of course, one of the biggest benefits (and a powerful driver for sellers) is not having to pay a listing agent commission.
For high-priced homes, the commission savings alone can be enough to make the decision for you. But you don’t have to choose representation plus commission or no representation and money savings – you can have both! Sell with Home Bay for a low flat fee, and work with an experienced real estate agent who will make sure your sale goes smoothly, manage all your paperwork and help you get the best price.
#3: There’s Still A Housing Shortage
The continued high demand for Bay Area housing combined with the relative inability of builders and developers to construct new housing in the most in-demand areas means the homes that are placed on the market are snapped up quickly.
Even if your home isn’t in the best shape or needs some TLC, you may find it more lucrative to list and sell quickly rather than sink money into repairs and maintenance that won’t do much to increase your sale price.
When the market is hot and houses in your area are in high demand, make sure you’re prepared for a fast-moving sale and are ready to take the next steps to get into your next property. Buying? Learn how you can save thousands.
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