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Why You Should Sell Your House Now!

Why You Should Sell Your House Now!

School is back in session, the holidays are right around the corner, you might not think that now is the best time to sell your house.  But with inventory below historic numbers and demand still strong, you could be missing out on a great opportunity for your family.

1. Demand is Strong

Foot traffic refers to the number of people out actually physically looking at home right now. The latest foot traffic numbers show that there are more prospective purchasers currently looking at homes than at any other time in the last twelve months which includes the latest spring buyers’ market. These buyers are ready, willing and able to buy…and are in the market right now!

As we get later into the year, many people have other things (weather, holidays, etc.) that distract them from searching for a home. Take advantage of the buyer activity currently in the market.

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 real estate values have increased over the last two years. 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. Any delay in the process is always prolonged during the winter holiday season. Getting your house sold and closed before those delays begin will lend itself to a smoother transaction.

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. 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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6 replies
  1. Brian
    Brian says:

    It’s a fact that Realtors will do anything to get the commission. They do not care about the client. It’s all about the money. I know. I used to be one and hated what I would have to be in order to make a living at it. So I got out and now I am a better person for it.

    Reply
    • Steve Harney
      Steve Harney says:

      Brian,
      Just like every other occupation, there are those that do not handle it with the professionalism it requires. Obviously, the broker you worked for didn’t dedicate the time to teach you how to do the job correctly. I hope he/she is out of the business.

      Reply
      • Liliana Pacelli
        Liliana Pacelli says:

        Really well said Steve! One who doesn’t care about people and has to compromise their integrity just for money will do the same in anything they do and will never be a better person just by changing what they do.

        Reply
    • Krista K Howell
      Krista K Howell says:

      Compassion the key to the real estate business!
      Greedy money hungry agents, give true real estate agents a bad rap.
      I do understand it is a business, but in order to help someone to buy or sell a home
      And take a percentage less commission, because you truly care about helping a client
      Makes all the difference in the world! If I get a $8,000 commission versus an $11,000 commission am I going to cry? Not me, I’m just grateful I had the opportunity to help someone through the process! It’s all about faith, character, compassion! And it I can through this out there I am grateful for a company like Keller Williams!

      Reply
    • Badrul Chowdhury
      Badrul Chowdhury says:

      Hello Brian,
      I’m sorry that you had to get out of real estate business. There are some shady agents out there but not all are out there to get you. I believe this is true for any profession. All you have to do is look closely around your current work environment.

      Reply

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