We’ve lived in Texas so long, we’re not even sure when spring is supposed to begin and end. But in real estate? We know it starts now. So, if you’re thinking of selling this season, we highly recommend you start now — and we’ve got the facts you need to do it.
Ready to get a jump on selling? Call The Rhodes Group.
The Earliest Of Spring Seasons
Given the pandemic, how is the market still so strong? Because of lower-than-ever interest rates, a shrinking home inventory in and around our core neighborhoods, and a buyer demand we haven’t seen in years.
The good news is we expect a healthy market through June of 2021 at least. But June isn’t so far away. We don’t want you to waste another minute, so here’s the low down on the spring real estate market.
5 Insights About the 2021 Spring Market to Know Before Selling
- Low mortgage rates continue to be a huge driver in this market. We’re seeing rates on mortgage loans as low as 2.5% in some cases. Yes, seriously. There’s never been a better time to refinance or apply for a new loan.
- Inventory at all-time low. The lack of homes available for sale has created a frenzy of buyer activity over the past several weeks. In the Park Cities alone, inventory is down almost 50% from previous years. But don’t be tempted to overprice because of this—for decades, statistics have shown that putting the right price on a home in the beginning nets you the most amount of money. Instead of “listing high and seeing what you can get”, the best approach for selling your home has always been setting the maximum price that will result in an offer within 30 days.
- Hip pocket listings are out. Here’s our hot take: You do not want to list something privately right now. With so many people currently on the hunt, and so few homes available, maximum exposure is the name of the game. So as a seller, a “hip pocket” is not your friend. Which leads us to our next point…
- Choose your agent carefully. How good is your agent at conveying value to a buyer, negotiating multiple contracts, navigating through the inspection and repair process, and eliminating the drama? With so much at stake, hiring an expert agent is key to a successful transaction. Just ask our clients.
- Minor renovations still go a long way. Buyers are willing and happy to pay more for upgrades — and perhaps more importantly, expect heavy discounts for non-updated properties. Whether it’s a fresh coat of paint or resurfacing the bathroom, easy updates like these can quickly and inexpensively add dollars to your listing price. Talk to us about our Compass Concierge program which fronts the money (no fees or interest!) for needed upgrades prior to listing.
No ifs, ands, or buts about it — if you’re even considering selling your home this spring, you can’t afford to wait any longer. Call us now to get the ball rolling. Our depth and breadth of experience will give you a leg up on the competitive Dallas real estate market.
Buy? Sell? Renovate? …Just Wait?
We Have The Answers. Call Us.
We grew up here. We live here. The Rhodes Group has been buying and selling Dallas real estate in the area for two generations, immersed in the ebbs and flows of the Park Cities, Preston Hollow, and Lakewood luxury real estate markets. We know your neighborhood.