Summer is here! In most regions of the country, summer is the best time of year to sell your home. This season makes for an easier transition between school years and people are more interested in looking for new places. But let’s talk about the other reasons that you should put your home on the market now.
1.) Demand is great. The latest edition of Buyer Traffic Report from the National Association of Realtors (NAR) reflects that buyer demand prominent throughout every region. This means that there are buyers out there that are ready and prepared to purchase right now in the marketplace. In many circumstances, if you have a well-kept home in a desirable community, you may find that multiple potential buyers will make attractive offers for your home. In other words, it’s important to take advantage of this competitive buyer activity now.
2.) Lowered Housing Inventory– Unless you are keeping up with real estate trends, what this means is we are currently under the 6-months needed for normal housing market. There are simply not enough homes for sale to accommodate the number of buyers looking for a new home. Sellers have the advantage in this current market. However, we have a hit a high market for increased equity in 11 years so it’s important to target the sale of your home during this time. New construction will increase as 2017 closes out so make sure that your home is in mint condition for potential sellers that rivals new homes.
3.) Quick Processes- When a buyer finds the home of their dreams, there are little things more frustrating than a slow process to move in. As the economic market begins to gain momentum, banks will be inundated with new loans that it has the potential to stretch out closings for longer than anticipated. However, selling now will make this process quicker and more efficient which will get you to the closing table sooner than waiting.
4.) The Perfect Time for More Space– If one of the reasons you are considering a move includes more house, then it’s important to know that prices are anticipated to appreciate by 4.9% over the next year based on finding by CoreLogic. A higher-priced this year will increase more in raw dollars (both in down payment and mortgage payment) than if you wait until next summer. While rates are expected to increase in the next 12 months, it’s important to look into your options of locking in 30-year housing expense with current interest rates around 4%.
5.) New Chapters– Many people avoid drastic life changes. But change can be good. If you are looking for more space, a job in a new city, or want to retire to less space, you can make this happen in the current market regardless of the reason. Think about the reasons you want to sell and begin a new chapter. The selling market is yours.
One of the most rewarding things about my job as a real estate agent is making my clients’ dreams come true. I love when they find the home that is just right for them. I also love when I guide them through the process of selling their current home so they can move on to the next one. Let’s talk about the next step in making your dreams happen.