As the summer heats up, so can our real estate market. Here are five reasons that you should consider listing your house for sale sooner, rather than later.
1. Strong Buyer Demand
The latest foot traffic numbers (the actual amount of people out physically looking at property) show significantly more prospective purchasers currently looking at homes than at any point in the last two years!
These buyers are ready, willing and able to purchase… and are in the market right now! Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
The National Association of Realtors reported last week that housing supply as slipped to a 5.0-month supply and much less in here in California. This is well under the 6-month supply that is needed for a normal housing market.
This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices.
There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future.
The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.
3. Home Prices Are Skyrocketing
Daren Blomquist, President of RealtyTrac, recently shared insights into why “2015 is a Great Year to Sell” by saying:
“So far in 2015, [sellers] are realizing the biggest gains in home price appreciation since 2007. In June, sellers sold for above estimated market value on average for the first time in nearly two years.”
One major factor driving prices up is the lack of inventory available for the amount of buyers in the market. Often buyers, who find a home that they would like to make an offer on, are met with the reality that they aren’t the only ones interested.
4. There Will Never Be a Better Time to Move-Up
If you are moving up to a larger, more expensive home, consider doing it now.
Prices are projected to appreciate by over 19.4% from now to 2019. 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. You can also lock-in your 30-year housing expense with an interest rate near 4% right now.
Rates are projected to increase by a full percentage point over the next year according to Freddie Mac.
5. 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 back 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.
Whether you are ready to sell now or not, remember that we are always here and ready to answer your questions. Don’t underestimate the value of professional advice when your considering decisions like this. We can recommend some of the best Realtors in the business. Just give us a call. 888-333-0075