Following up from my last market update 2 weeks ago, I wanted to update you on the state of the Cayman market. Right now, we are for all intense purposes in a seller's market. Buyers are gobbling up properties and inventory is going down, while demand for homes is increasing due to population growth.
If you have been considering selling your home, it may be in your best interest to pull the trigger now instead of waiting for later. With such a high demand for condos, homes and land you have basically no competition on the market, which can lead to multiple offers and a higher sale price. Listing your property now will ensure you are ahead of the curve, and can get you in a strong position to sell.
To get started taking advantage of these conditions, making sure your home looks good from the outside is a good first step. In the link below, check out some of the key points that can improve your "curb appeal." Click Here for a guide on Selling Your Cayman Property
There is a huge opportunity in selling now in our market. If you have any questions, or are wondering what your next step should be, give me a call or send me an email. I look forward to speaking with you soon!
Welcome back, everybody. Here's a quick market report on how the Cayman market has been evolving so far in 2015. I have to say, the market is doing well, just as I predicted. We are currently transitioning into a really active and positive market. Incredibly, we have had a home sale every 2 days so far in 2015, which indicates the market may be doing even better than I previously anticipated.
There has been a marked increase of confidence in our market, along with improved stay-over tourism, population growth, and ongoing projects such as the Ironwoods golf resort and new hotels being built. When you have these big companies investing in Cayman, it can only mean good things for the market as a whole.
We are exactly where I anticipated we would be, and may be even a little further ahead. We are transitioning from a buyer's to a seller's market. If you are a buyer, I would encourage you to step up and purchase sooner rather than later, before interest rates rise and the market is flooded with inventory. If you are a seller looking to sell in 2015, making small improvements to the outside of your home - whether it's a fresh paint job or spruced up landscaping - can go a long way in impressing buyers. Another great way to increase your home's potential sale value is to work on the inside - little things, such as new paint and countertops will surely create a positive impression.
If you have any questions, I am always here to answer them. Just give me a call or send me an email, and I'll be in touch.
