If you’ve been thinking about selling your home but weren’t sure what to make of this year’s unpredictable economy, real estate agent Carl Sussman has one word for you: SELL.
“It’s probably the best time to sell that I’ve ever seen, and I’ve been working in real estate for over 20 years,” he says.
Sussman is a broker and the Bainbridge Branch Manager for Realogics Sotheby’s International Realty, and he says a perfect blend of market forces have made Bainbridge Island a great place for home sellers.
“I’ve never seen this combination of factors in the market before, and it all works in the home seller’s favor.”
3 key factors in the Bainbridge Island real estate market
- Low interest rates: Rock-bottom interest rates mean it’s easier than ever for buyers to pay off home loans, and that’s great for sellers. With mortgage rates at record lows, customers are eager for a chance to get into the market or upgrade from their current home.
- Low inventory: Even before the COVID-19 pandemic hit, the Seattle-area’s housing market was one of the hottest in the country. By the end of February inventory dropped dramatically, and with less homes competing on the market, prices began to surge. Inventory is still well below what’s needed to meet the number of interested buyers, making this the perfect time to put your home on the market.
- High demand: Health and safety concerns related to the COVID-19 pandemic have made communities like Bainbridge Island more attractive than ever. “People are looking to escape the city and move to less populated areas where they can live more comfortably,” Sussman says. With our homes now serving as office, school and entertainment center, there’s increased demand for the kind of personal oasis you can find on Bainbridge Island. “There’s also a surge of Baby Boomers looking for retirement opportunities, further increasing the demand for Bainbridge Island housing.”
Sussman switched to Sotheby’s from another real estate company, and he’s noticed a big difference in the level of service he’s able to give clients at his new branch.
“With Sotheby’s I’m able to reach buyers from all over the world — and isn’t that the whole point of listing with a real estate company? We can cast a wide net to find the perfect buyer for your home.”
Bainbridge Island is home to unique properties with great inherent value — but only if you find a buyer who appreciates those assets. Sussman says with Sotheby’s worldwide network and respected brand, your home is more likely to reach the perfect buyer.
“Sotheby’s is a trusted brand that brings to mind ‘quality’ in people’s minds, which is another factor in your favor. Your house is associated with that trust and respect.”