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Real Estate market booming for sellers

ALPENA, Mich. — It could be one of the best times in recent history to sell a home.

A lack of inventory in the real estate market had resulted in bidding wars on almost every sale. Sellers have the opportunity to choose between buyers and pick a best offer, whether that be a higher offer than listed, a cash offer, etc.

While supply is down, demand is still high, as a low interest rate in comparison to recent years makes it very enticing for buyers to find a property as soon as possible.

“Right now, the benefit to the buyers is the low mortgage interest rates,” Cindy Limback, a broker and the owner of Remax New Solutions in Alpena said. “We just don’t know what the rates will look like in a couple years.”

Limback advised buyers not to hesitate, and to be prepared to go over list price for that special property. Realtors do predict a similar real estate market for the upcoming year.