Page 26 - Amarillo Senior Link Magazine Spring 2021 - Online Magazine

SENIOR RESOURCES

Why

NoW?

by Donna Alexander

surveyed reported delays in getting
at least one building material. Other
concerns are sharp price increases,
mostly on lumber, and to a lesser
degree on steel, electrical supplies,
and lighting. Many builders are
reluctant or maybe even unable to
bid a new project because of the
difficulty in predicting prices and/or
timelines. This situation makes an
NOW may be the best time submitted. Although inventory has existing home more desirable.
in years to sell your house. been generally declining, it does
seem to have accelerated with the And everyone knows that real
It’s a seller’s market. Everyone in COVID crisis. estate is seasonal, with the majority
real estate is saying that. Here is of home sales in the spring and
why now may be your BEST time The Federal Reserve has kept the summer. School will soon be out
to sell: interest very low for many months for the year, many taxpayers are
now, hoping to stimulate the getting tax refund checks, some
Reports from all over the country economy and calm people’s nerves. are expecting more stimulus
indicate that inventory is low, and Of course, a lower interest rate money, and spirits are bouncing
therefore, sellers have the upper on mortgages means buyers have back with the COVID vaccines.
hand. In our market (Amarillo, more purchasing power. Instead For these reasons, our sellers are
Canyon, Bushland, and the Texas of paying more for interest, they often surprised at how much their
Panhandle), as of 1/31/21, we had can spend more on a house. That, home is worth and how quickly it
only 627 active residential listings coupled with stimulus checks, have sells. For every house sold in your
on MLS. One year prior to that, we given many hopeful buyers the neighborhood, other qualified
had 1,208, and two years ago, 1,530. push they need to start looking. buyers are still looking.
This low inventory is creating lots
of activity as soon as listings do go Another interesting phenomenon If you have wondered if this is the
on the market. Usually, the first few we’re aware of is the difficulty in right time for you to sell, give me
days are filled with hopeful buyers getting building supplies. 71% a call at (806) 683-1299 for a FREE
looking and multiple offers being of the commercial contractors consultation.

26 Amarillo Senior Link