Top 5 Reasons to Sell this Summer
Many people struggle with whether the timing is right to buy or sell real estate in Lake Tahoe. Although the agents at CENTURY 21 Tahoe North Realtors don’t have a crystal ball, there are some indicators that now may be a good time for sellers who have been waiting to sell their Lake Tahoe property.
1) The inventory of Lake Tahoe Homes for sale is low. There is a seasonal market in Lake Tahoe due to the winter and summer vacation traffic so the current inventory is low as it typically is this time of year. There is a lower number of distressed homes (REO and short sales) coming on the market and may further limit the number of listings added to the inventory throughout the summer.
2) Prices have begun to improve. With the limited inventory currently available, therefore, less competition among listings, sellers are able to ask higher prices.
3) Interest rates continue to remain at record lows. Lower interest rates have allowed buyers to be able to afford more expensive homes than when rates are higher.
4) Buyer demand is improving. There are indications that the housing crisis is ending. This, coupled with low interest rates and prices still near the bottom seems to have improved buyer confidence.
5) The market and economy are unstable and conditions continue to change. Markets are fluid, constantly changing and adjusting. Once factors change such as inventory, price or interest rates they often result in other changes in the real estate market and the bottom line for sellers.