Is the "Uber Effect" Really a Thing?
Much has been discussed about the so-called "Uber effect" of the series of IPOs queued up to hit the market—including Uber itself, today. Anecdotally, it seems a lot of prospective sellers are holding back in anticipation of a flood of new money sweeping through the city.
This may be misguided. Uber's main competitor, Lyft, already went public, and is trading well below its opening price, so who knows how much money these shareholders will be able to flex, especially considering that it'll take 90 days post-IPO at a minimum before they can.
Meanwhile, this tight-fisted approach has constrained inventory during the hottest real estate season of the year. This leaves buyers hungry, driving up prices. It'll take a couple months before we really see the effects, but based on some recent transactions, I think we'll see a surprising spike in the latter half of the spring selling season. In other words, if you were holding back, you may have left money on the table.
That said, if you are looking to sell, you should get moving sooner than later. Getting a property ready for sale takes time and attention to detail. You want your home to be the belle of the ball. This is why staging is key. And if you're unwilling or unable to front the cost of staging, don't worry—I’ve got your back. See how Compass Concierge can help you put your best foot forward without the upfront cost.