Below are five reasons listing your home for sale this spring makes sense
Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!
More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.
Take advantage of the buyer activity currently in the market.
There Is Less Competition Now
Housing inventory is still under the 6-month supply that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.
Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation.
As home values continue to appreciate, more and more homeowners will be given the freedom to move.
Many homeowners were reluctant to list their home over the last couple of years, for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase.
Don’t wait until this other inventory comes to market before you decide to sell.
The Process Will Be Quicker
Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping.
According to Ellie Mae’s latest Origination Insights Report, the time needed to close a loan is 49 days.
There Will Never Be a Better Time to Move Up
If your next move will be into a premium or luxury home, now is the time to move up!
The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly AND you’ll be able to find a premium home to call your own!
Prices are projected to appreciate by 4.6% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
It’s Time to Move on With Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market.
Perhaps the time has come for you and your family to move on and start living the life you desire.
That is what is truly important.
Help-U-Sell Southland Realty can create a Comparative Market Analysis (CMA) for you and determine the value of your home.
Please fill out the information in the form below and Help-U-Sell Real Estate agent will contact you shortly.
The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index, in which they compare home prices regionally and by state.
So you’ve decided to sell your house. You’ve hired a real estate agent to help you with the entire process and they have asked you what level of access you want to provide to potential buyers.
In a competitive marketplace, access can make or break your ability to get the price you are looking for, or even sell your house at all.
Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting that home sales will increase nicely in 2019.
When it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors.
When it comes to today’s real estate market, though, the top two factors to consider are what’s happening with interest rates & inventory.
The Cost of Buying a Home. A 50-year Flashback
The First Step in Buying a Home
Selling a Home: How Much Has Your Home Increased in Value?
Buying a Home: Where Are Home Prices Headed in 2019?
If you plan on buying a home, it doesn’t make sense to wait!