2021 has proven to be one for the books, with sellers getting ABOVE "top dollar" for their home, it makes the rest of us want to jump into the market frenzy and plunk a "For Sale" sign in our front yard too! BUT WAIT!! Where will we go? And, what amount of money will we have to spend to get there? Sell high and buy low right?? Buying low doesn't apply for 2021 buyers. As a matter of fact, it's the amazing race to who will be the highest bidder on a single property that you and everybody else wants. Buyers are gobbling up just about everything that hits the market and at a high price tag. What are the reasons for such a market? Covid, change in demographics, record low interest rates and low inventory all play a role in what's happening in todays market. What will the future returns look like on such an investment?? Are we looking at a market crisis similar to that of 07-08? Or, is this the new normal?
Buyers and buyers agents are hoping for a better 2022. Being in this real estate race isn't fun for everyone. Buyers want to get back to looking at multiple homes before making one of the biggest financial investments in their lifetime, they also want a home inspection contingency to be a part of their purchase agreement so they can have peace of mind. Lastly, they hope for a good return on their investment.