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5 Reasons to Sell Now!

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5 Reasons to Sell Now | The KCM Crew

Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? Can buyers qualify for a mortgage?  These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are five of those reasons.

1. Demand is Strong

There is currently a pent-up demand of purchasers as many home buyers pushed off their search this past winter & early spring because of extreme weather. According to the National Association of Realtors (NAR), the number of buyers in the market, which feel off dramatically in December, January and February, has begun to increase again over the last few months. These buyers are ready, willing and able to buy…and are in the market right now!

2. There Is Less Competition Now

Housing supply is still under the historical number of 6 months’ supply. This means that, in many markets, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

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 prices increased over the last eighteen months. Many of these homes will be coming to the market in the near future. Also, new construction of single-family homes is again beginning to increase. A recent study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

One of the biggest challenges of the 2014 housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. As the market heats up, banks will be inundated with loan inquiries causing closing timelines to lengthen.  Selling now will make the process quicker and simpler.

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% from now to 2018. 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 in the low 4’s right now. Rates are projected to be over 5% by this time next year.

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 and pricing it so it sells. 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.

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SSG Magazine 300

For more great information you can share with your clients about the opportunities available this spring, start your 14-day free trial of KCM and download our 10 page eGuide, "Things to Consider When Selling Your House".

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2 Responses to “5 Reasons to Sell Now!”

  1. Brandon June 17, 2014 at 9:32 am # Reply

    I suppose it depends greatly on where you live. For instance; in my area there are homes selling for 120% of what they sold for only 5 years ago. BUT in nearby surrounding areas, the properties that were listed within 5 years are up for sale with offers of 350% less than last sale. I would recommend those undecided homeowners to come up with a “make me move” price and throw it out there – you never know until you try, right?! Otherwise I would have to say that “now” isn’t the most opportune time to be selling for the most part – unless of coarse you can get what you ask. The FED Reserve has been propping up the market, so to say it is doing better is a bit outlandish. After all, a prop is a prop – not a foundation to lean upon. Any market will do well with $80B+ being pumped into it monthly..lol. I advise that people exercise a great deal of caution when making ‘moves’ in todays market. As we’ve seen, many of these people ‘moving on up’ tend to end up ‘moving on out’ when the $ runs low. It seems that “BEYOND OUR MEANS” is our motto lately. Be careful out there and do your homework! ;) Good luck!

    • P Ryder June 25, 2014 at 11:31 am # Reply

      350% less than the last sale, does that mean the sellers are paying people to buy there homes?

      While this does indeed depend on where one lives, the most important factors are pent up demand and the lack of GOOD inventory in areas that do NOT have less than 6 months absorbtion rate. Too many sellers DO have a “make me move” price on their homes, and those homes are not selling. The fact is, look at the data, look at the sale. Price your home correctly and get on with your life. If you’re in the market to dip your toe in, forget it. Buyers aren’t stupid. Listen to your Realtor when they give you a price. They are in the market every single day and know what they are talking about.

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