Do You Believe It’s A Good Time To Sell Your Home?
In a recent Keeping Current Matters blog post by Steve Harney entitled Selling Your House? 5 Reasons To Do It NOW!, Steve gives us 5 strong reasons to sell now instead of waiting until later in the year.
1) Interest Rates Are On The Rise
Interest rates are now over 5%. As rates increase, the mortgage amount a buyer qualifies for decreases. Eventually this will have a negative impact on prices.
2) Your Dream Home Will Never Be Cheaper
If you are buying, COST should be more important than PRICE. Cost can be dramatically impacted by rising mortgage interest rates.
3) Buyers Are Out Early
Mounting evidence is showing that buyers are coming out earlier this year than the ‘Spring Buying Season’ due to the believe that now is a good time to buy. That coupled with the increase in interest rates has started the buying season early.
Pete Flint, CEO of Trulia:
“We’re seeing a national resurgence of buyer and seller activity on Trulia.com. In January alone, we expierenced an unprecedented level of site traffic including 11 million unique visitors – which is more than 70% year-over-year growth. We are now experiencing 100,000 property views per minute.”
The National Association of Realtors just reported that the number of house sales increased 12.9% over last month.
4) Inventory Increases Every Spring
Here is the number of listings available for sale in 2010
- February – 3,531,000
- March – 3,626,000
- April – 4,029,000
Steve Harney believes that there will be an increase in these numbers in 2011 as there is a pent-up selling demand created by the weak market of the last few years. If you sell now you won’t have to worry about this increasing competition.
5) We Are In The Eye Of The Foreclosure Storm
As banks try to correct their foreclosure procedures, there is a large supply of discounted properties which have been delayed coming to market. This inventory will be released sometime in the next few months. Foreclosures sell on average at a 41% discount. When they are released these properties will be competing with your house for buyers. If you are looking to sell in 2011, you want to sell before this inventory becomes your competition.
Let’s sit down today and discuss the best options for you. You can contact me at (305) 329-4929 or [email protected].