If you need assistance, please call 239-287-6725

Buying or Selling a Home in 2021 - Is Now a Good Time?

Thursday, April 8, 2021   /   by Eric Aubrey (Wroblewski)

Buying or Selling a Home in 2021 - Is Now a Good Time?

The COVID-19 pandemic made 2020 one of the most deadly and challenging years in our lifetime. Thankfully, the availability of vaccines has begun to provide hope of returning to some version of normalcy. As we move in that direction, many across the country have been considering whether this is a good time to buy or sell a home. Sometimes the most challenging of times presents the most unique opportunities. We’ll explain.


While attempting to keep our families healthy, the concerns of normal life have not gone away. The bills don’t stop, nor concerns about 401Ks, investments, job, retirement, and markets stability. Thankfully, real estate values have not been something to worry about. In 2020, especially the last half of the year, buyer demand for homes remained incredibly strong, fueled by record-low mortgage rates.


Perhaps because we were home-bound, many of us began to really think more about where we live. If I can work from home… where might I want “home” to be? (BTW… that answer is easy if you live in Naples, Florida!)
According to Zillow, U.S. home prices have doubled in the last decade. As an example, in 2010, the average price of a home in Denver, Colorado was $246,680, while in 2020, it was $464,068. In a report from the Federal Housing Finance Agency, U.S. home prices rose 7.8% from the third quarter of 2019 to the third quarter of 2020 - the fastest year-over-year climb since 2006.


Here’s what Adam Contos, CEO of RE/MAX Holdings, Inc. had to say in the January 2021 RE/MAX Housing Report:

"January home sales started the year off with a bang despite the current shortage of homes for sale. January's year-over-year sales increase was solid by any objective measure, and it signals that 2021 could be a historically good year for housing. Uncommonly low-interest rates, the ascent of the millennial homeowner, and the prospect of working from anywhere are converging to shape a housing market unlike any other.” 


While mortgage rates have begun to inch up (a 30-year fixed-rate mortgage is still hovering around 3%), Federal Reserve Chairman Jerome Powell recently told Congress that the central bank will not start raising interest rates until it believes its goals on maximum employment and inflation have been reached.


Investing in real estate is an ideal way to diversify an investment portfolio, reduce risks, and maximize returns. Another advantage over other investment alternatives is taxes after selling the investment. Selling stocks typically results in capital gains taxes, where real estate capital gains can be deferred if another property is purchased after the sale (called a 1031exchange in the tax code).


Is now a good time to buy or sell my home? Yes - now may be the ideal time for home buyers and sellers to take advantage of favorable market conditions.

 
If you’re considering buying or selling your home, contact us now. The Key Team in Naples, Florida will help you find the perfect property - the perfect buyer - or both! 


  naples real estate market 2021, buying or selling a home in 2021 - is now a good time?, luxury real estate, florida

RE/MAX -The Key Team
Randy Keys
821 5th Ave South Ste 105
Naples, FL 34102
239-287-6725

The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2021. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.
2021 Royal Palm Coast REALTORĀ® Association. All rights reserved. Information has not been verified, is not guaranteed, and is subject to change. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) of the Florida Gulf Coast Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than IDX logo and detailed information about them includes the name of the listing brokers. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Last Updated: 10/23/2021 2:22 AM CST
The data relating to real estate for sale on this limited electronic display comes in part from the Southwest Florida Multiple Listing Services. Properties listed with brokerage firms other than are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. The source of this real property information is the copyrighted and proprietary database compilation of the participating Southwest Florida MLS organizations and is Copyright 2017 Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Some properties that appear for sale on this limited electronic display may no longer be available. For the most current information, contact Data last updated 10/23/2021 2:22 AM CST.
The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2021. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.
This site powered by CINC: www.cincpro.com