Selling AND Buying Real Estate in this Market

Selling AND Buying Real Estate in this Market
There’s no doubt that by now you know that the Austin real estate market is going crazy!
And while we are in a massive seller’s market right now, more and more inventory IS coming on the market as we move into the spring! It’s pretty easy decision if you’re going to be LEAVING the Austin area to get your home on the market in the next couple of months (It’s easy peasy to get a free leaseback right now).
If you’re planning on STAYING in Austin, want to sell your current home and upsize or downsize, then it can be a little overwhelming to say the least! You may feel like you’re being priced out of your next home…
But keep in mind that as you are seeing homes go up in value, yours is also appreciating.
So the question THEN becomes… “HOW do I navigate this market?
First off… I would recommend that you consult with an accountant, but with the crazy appreciation, you may be able to cash out on $250,000 – $500,000 tax-free depending on what you bought your home for and what it’s worth today. (Let me know if you’d like me to run an updated market analysis for you.) And we don’t know if this tax break is going to stick around. Here’s the link to the IRS article on this.
You can turn around and do it again in a couple of years 😉
Second… all it takes is a plan!

Here are 7 things to consider with regard to selling AND buying real estate in this market (if you’re staying in the area)

  1. Why do you want/need to sell/buy/move?
  2. Do you NEED to sell your current home before you buy?
  3. What is your timeframe (when do you want to be in a new home?)
  4. What is most important in your sale (net cash after closing, home to a family vs. investors, etc.)
  5. Where do you want to buy your next home? (Specific communities are the easiest way to move forward)
  6. Are you interested in new construction or a resale? (Timelines on the two vary greatly)
  7. Have you considered refinancing and holding on to your existing home for cashflow/appreciation?
We are TRULY in a seller’s market right now… The strongest that I’ve seen in 20 years (and I was on ground zero on FL in the mid-2000s when it was like the Wild West). But more and more inventory is coming on the market and there’s no guarantee as to how long we’re in this exact supply/demand state.
There are some very specific strategies (and ways to protect you) when it comes to getting your home ready, showing your home, and handling offers. For example, just because someone is willing to pay $150,000 over asking and waive the appraisal, doesn’t mean the buyer can actually close!
… And how to leverage the market and use creative marketing to buy a new home (We found our personal residence through direct mail and got in below market value… and have two clients that have just found their perfect home “off-market”)
So, if you’re wanting to talk about your options, a strategy or simply understand what’s going on in your specific neighborhood, I’m scheduling 30-minute Zoom seller strategy sessions this week. If you’re considering  selling in 2021, then I’d suggest getting a plan together now. Click here to schedule your call.

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