Seven reasons to sell your home this year.
Learn how it can help you grow your wealth!
Below is 7 Reasons To Sell Your Home. Our economy is greatly impacted by real estate and for many reasons. Most importantly, we all need a place to live, work, and play. With only 7 reasons to sell your home to think about, this will help you decide if the time is right. The experts always advise you to sell your home when it makes sense, and now is that time.
There Is Less Competition Now
Buyers are begging for you to sell your home! For nearly 3 years the Housing inventory has declined. With this, we are under the 6 -month supply needed to maintain a normal and stable housing market. Simply stated, there are not enough homes for sale to satisfy the buyers in the marketplace. This is great news for homeowners that have earned equity, and their homes values have appreciated. Sell your home when it makes sense, and now is that time. This means, for homeowners that want a quick sale, now is the time to list. Additional inventory could come on the market at any time, and if you have little competition, that could translate into a shorter time on the market and could mean better odds of closing at a price point that is reasonable and fair.
As the value of homes appreciates, more homeowners will take the opportunity to move onward and upward, and right now is a great time for that. The faster you put your home on the market, the less competition you will have. If you wait too long, more homes will come on and the buyers have more to choose from.
Demand Is Strong
Buyer demand is very strong, and The Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyers are ready, willing and able to purchase the home of their dreams, but first, they must be able to find one. Right now, multiple buyers are vying to buy the same home and bidding wars are occurring (not good, because this will prematurely drive up the price of homes), and there can only be one winner, so, what is the second choice going to do? That is where you come in!
Now is the time to benefit from the buyer activity currently in this market. The rates are down, buyers are savvy, that if they love a home and it fits their budget and has their most important “must haves” they are moving on putting in an offer.
Moving on up has never been easier
If you have been fantasizing about moving into a more refined or luxury home, your time is now. your next move will be into a premium or impressive home, now is the time to move up! The number of homes for sale in the higher price range has increased, and their days on the market are increasing. So, it is a buyers’ market if you are interested in a refined or luxury home. Simply put, the supply is outweighing the demand, and now is the time to buy luxury, and selling a moderate or starter home, your home can sell quicker (if priced right), and you potentially could take your money and buy a higher-priced home than what you could years ago. CoreLogic predicts that prices will appreciate 5.2% over the next year. Again, now is the time to act.
Swifter Process Pre-Approval is a must
With so much competition, buyers know they must be prepared mentally to move quickly, and with that, they realize that they need to be financially prepared to act quickly, or their dream home will be taken by a more prepared buyer. Today’s environment is competitive and streamlining those buyers that are not serious about proactively following through, and this has forced buyers to do what they can, to stand out from everyone else. When a buyer is Pre-approved, they have a better understanding of what they can afford, the process is faster, and they know when they find a home that is everything they want, they are educated and prepared to make a decisive offer and move to closing within 35-45 days. Ellie Mae’s latest Origination Insights Report, the average amount of time it took to close a loan was 41 days. Not bad, that in less than 2 months you can sell your home and buy a new home yourself.
Grow Your Wealth With Real Estate!
Still on the Fence? Then ask why and why not?
Look closely at your situation. If you have been contemplating a move, why? Do you want to improve your nest? Is this a move-up in home value? Is this a lateral move, and you want a change of scenery or a different location that will make your life easier and happier? Do you want to move out of State, and not quite certain what your market is doing and not certain what is going on in the State of choice? There are a plethora of reasons to move and to stay. You need to weigh out what is best for you, and if moving is on your to-do-list, then it is time to talk with a professional and make a decisive exit strategy.
For now, Interest rates are low! Sell your home and be ahead of the game.
Now is the time to think about interest rates, and not just for the buyer of your home but yourself. According to NerdWallet, the early part of January, the interest rate for a 30-year fixed-rate mortgage was 4.17 %. The Mortgage Bankers Association forecasts 30-year fixed-rate mortgages will rise to approximately 4.6 this year, and they expect rates to rise to 5 % in 2019 and 5.3% in 2020.
This may seem like a small margin of difference, but it can be a barrier for some potential homebuyers and exclude them from the market. With this being a potential barrier, buyers will be less likely to act quickly when seeing a home because they will have less buying power. That will not only impact what they can buy, but home sellers and their bottom line will be impacted, as well. If you sell your home before the rates go up, you could make more money with fewer headaches. Plus, when you buy, your interest rate will be low, and that is a win-win.
Grow your wealth
Real estate will grow your wealth. It is a great “savings account” for your future. Whether you are paying rent or paying your own mortgage, you are paying, and you should reap the rewards for your investment. When purchasing real estate, you are investing in your future wealth, and as you grow in income, you can sell your home and improve your home value, you can use your equity to purchase more real estate for family, as a rental property, second home, or a retirement home when you are ready to downsize. Investments need to be nurtured and taken care of, and real estate is no different. Talk with a Mortgage Broker, Realtor®, and financial adviser. And if you need help finding a professional to work with, I know a great team that can help you with your future home and can help grow your wealth along the way.
DAVIS & CO. ILRE~
Real Estate Agents and Mortgage Brokers are here to answer your questions and help you make hard decisions.
If you are not certain about buying, selling, investing, that is what we are here for. It does not have to be a pressure situation, and you understand what buying and selling entail, is great for you. The more tailored the information you are seeking is, and that it is precisely for you, the better you can be served. The more questions you have answered, your decision-making capabilities and responsibilities are a made a bit easier. In today’s landscape of Zillow, Trulia, Realtor.com®, Redfin, and all the others, their information looks like it is made for you but it is an information machine that does not drill down to answer what you need, in the State and City you reside in. Plus, the agents that are showcased have paid to be there.
Agents solve difficulties that arise and try to see beyond the current circumstance any issues that could occur and create unnecessary complications. We are problem solvers and navigators, interpreters and negotiators.
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