Top 5 Reasons to Sell Now
A number of homeowners who want to sell are still not certain about putting their home on the market at this time. They wonder where prices are headed, what about mortgage interest rates, are buyers having a hard time qualifying for the loans? While these are valid questions, there are many reasons why it makes sense to sell your home sooner, rather than later. Here are the top 5 reasons to do so.
1. Right Now, The Most Serious Buyers Are Out
It is common knowledge that the housing market is most active during the months of April, May and June. Serious buyers are certainly aware of this and those buyers are out NOW, in the early spring so as to get ahead of the heavy competition from other buyers.
2. There is Less Competition Now
The inventory of homes available for sale will usually increase from spring through the summer months. The buyers will have more choices and as more homes come on the market some sellers will tend to be more aggressive with their pricing to effect a quicker sale.
3. The Process Will Be Quicker
One of our challenges so far this year has been an increased time to bring a transaction from contract agreement to closing. This is due to more regulations and lenders requiring more paperwork before issuing that loan committment. As the spring market gets in swing and the amount of sales going through the pipelines increases the timelines to process the sales will certainly increase, perhaps by as much as an additional 30 days in some instances. Selling now will make the process go quicker.
4. This is The Best Time to Move-Up
If you are moving up to a larger, more expensive home, do it now. Prices are projected to appreciate by as much as 19% from now to 2018. If you are moving up to a higher priced home it will cost you more in both down payment and mortgage payment if you wait. Mortgage rates are projected to increase by as much as 1 full percentage point over the next year.
5. It's Time to Move On
If you look at the reason you are considering selling in the first place you will ask yourself the question is it worth waiting? Is the possibility of a higher sales price in the future worth more to you than the reason you want to move, be it to move closer to family, or for health reasons, or to just free yourself to do what you want? You already know the answers to those questions and you have control to make the decision to get your home on the market, price it to sell, and move on with your life. That is what is truly important.
If the time is right for you and you need guidance and advice, call me. I can help.
Tony Morganti, CRS, ABR