If you’ve been contemplating selling your Malibu home, stop procrastinating and sell it now. For a number of reasons, the seller’s market could not be hotter.
Demand is very high. The DOW hit a record high in December – it was up 25.1% in 2017, while the S&P was up 19.4% and the Nasdaq 28.2%. People feel wealthy and liquid and the Tax Bill causes the affluent to be optimistic about their future.
Supple is historically low. As of year end, there were only 53 beachfront and 118 landside homes available for sale – a total of 161 homes. The norm is 250. So available home inventory is down 35%! Tht puats upward pressure on prices, which is great for buyers.
Interest rates are still at historically low levels. With 25% to 30% down, buyers can borrow the balance at 3.5% to 3.75%. That’s very attractive as many borrowers can earn more that their cost of funds.
Please call us so we can help you optimize the price of your home and sell it for you while the market stays hot.