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By Emilio DiSpirito, Realtor DiSpirito Team, HomeSmart Professionals, contributing writer, real estate
Supply is scarce and buyers are numerous. According to the Rhode Island Multi Listings Service, we are experiencing the largest shortage of homes available for sale in recent history. Here is our shortlist of 3 reasons why now is the time to leverage your window of opportunity to cash out with the highest returns ever. Now.
Oh yea.. right now, the median single-family is selling at the highest price ever in RI history at $320,000 with only 34 days on market… that’s insane.
You will profit more in a market with less competition
While it looks like there are a lot of “For Sale” signs out there, there are twice the number of pending homes than are active at the moment.
You will need to Do Less
With so few options, buyers are less concerned with the dated kitchen and baths and more concerned with location and functionality. Make sure your home is clean, inside and out, staged, decluttered, and smells good, and you will get top dollar!
You will Catch the Rush of buyers before school starts
Each year, buyers pour into the real estate market during the spring and summer months. July is usually vacation month, however, due to the pandemic, buyers have stayed local and are out in full force. Mix the traditional seasonal buyers with the last minute “back to school” buyers, relocations, downsizers, upsizers, and first-time buyers, and you have a potential bid war on your hands.
“Well… what if I can’t find a home to buy?! I’ll wait to add my home to the market until I find something!”
Our current conundrum is here because of this thought – don’t be a part of that! A well-experienced Realtor will assist you to find off-market, coming soon, for sale by owners, previously withdrawn properties, and more, while adding a provision to your contract with your home buyers to allow you to find suitable housing before closing. No one goes “homeless”!
Get in the market now and enjoy interest rates in the high 2’s and low 3’s while selling your home for top dollar, before you miss this window, and have to hear your friends and family brag about their “power move” at Sunday dinner!
If you would have asked me what I wanted to be growing up, little Emilio would have told you “an archeologist” or “an architect” despite the fact that at age 8 I had my first lemonade stand, landscaping business and was recording my first “news show” on my boombox! Well, I never was much good at trigonometry and did could not see myself traveling for months and possibly years at a time, so becoming an architect or archaeologist clearly did not happen!
Fast forward 26 years later and I’m running a team of the finest residential real estate professionals, own a media company and host my very own radio news show about real estate!
In September of 2017, I married my best friend, Jaclynn, and we have two wonderful children, Destinee and Emilio, V. We have 3 dogs, one of which is a rescue and live in lovely Rhode Island. Jaclynn owns a high-end hair salon in addition to an on-location hair and makeup business!
For 7 years straight it seemed that I had put in more hours than the day had to give on my real estate business. 7 days a week, 14 to 16 hour days, without a break! Why? My friends and family did not understand the sheer magnitude of moving parts and services we offer to our clients during a transaction! One slip up or one missed call could mean make or break for someone’s dream home or even a lost deposit!
Running a team of like-minded, highly qualified and capable professionals has allowed me to offer a very streamlined, simplified and efficient approach to the sales process for our clients and allowed me to earn personal time again with my family while not missing a beat for my clients!
When I’m not working, I’m with my family, riding my mountain bike, eating at a number of local restaurants, enjoying live entertainment, hiking, skiing or reading!