Earlier this month the University of Colorado's Leeds School of Business announced that the business confidence index is at it’s highest level since 2004. While that is great news since it equates to more new jobs and an improved economy, I’ve noticed this confidence transfer over to some homeowners in the form of over-confidence.
The real estate market is great right now; there are lots of buyers out there who are ready to make a move. Most homeowners I’ve spoken with recently know that the market has picked up from where it was six months, even three months ago. Some presumptuous sellers are insisting they need to wait a few more months to sell as they’ve convinced themselves they’ll get thousands of dollars more.
While not all sellers seem to remember the highs and lows of the past decade in real estate, it seems all buyers do and therefore don’t want to be prey to another real estate bubble…in other words, buyers are cautious and are not over-paying for homes now. Though Boulder’s real estate market was not hit as hard as the rest of the nation, it’s been in the media spotlight enough for consumers to know that a home doesn’t (or shouldn’t) appreciate 10% every year.
My advice to sellers, the best time to sell is when there’s a buyer. There’s no shortage of buyers out there now, they just need to know who’s interested in selling.
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