Why You Should Sell Now!
If you are looking to sell in 2011, there may not be a more opportune time than this right now. Serious buyers, great move-up deals and less competition from very motivated sellers and foreclosures creates the perfect situation for a seller. Don’t miss it! There are fantastic opportunities available right now. Meet with your real estate agent and mortgage professional today and see whether it is the right time for you and your family to make a move.
Here are five reasons you should consider selling in the first 90 days of 2011.
1. Buyers are serious during winter months.
We all realize that the market has slowed down since last spring. Buyers are not finding urgency to buy with the supply of eligible properties at all time highs. However, at this time of year, the ‘lookers’ are either staying warm (in the North) or just busy with other priorities. The home buyers left in the market are serious and are more apt to buy.
2. Interest rates are rising.
Rates have jumped over half a point in the last several weeks. The short term result of increasing rates is a surge of buyers jumping off the fence to purchase in fear that rates may continue climbing upward. This is a short window of opportunity. If rates fall again, buyers will jump back on the fence. If rates continue to rise, it limits the number of buyers who can qualify at each price point. Now is the best time to sell your house while rates are still decently low.
3. If you are moving up, you can save thousands.
If your goal is to sell your current house and take advantage of the great selection of properties currently available to buy the home of your dreams a at fantastic price, do it now! Prices will continue to soften in most markets. However, if you are buying, cost should be more important than price. Cost can be dramatically impacted by rising mortgage interest rates. Do the math and decide if now is the time.
4. You beat the rush of inventory that is coming next year.
Every year there is an increase of inventory listed from January through April as homeowners put their houses up for sale in preparation for the spring market. Here is the number of listings for sale in 2010.
• January – 3,277,000
• February – 3,531,000
• March – 3,626,000
• April – 4,029,000
We believe there is a pent-up selling demand (homeowners who have held off selling over the last year) that will lead to an increase in these numbers this spring. You won’t have to worry about this increasing competition if you sell now.
5. You have less ‘discounted’ inventory with which to compete.
This year, sellers have been given an early holiday present. With banks trying to rectify their foreclosure procedures, there has been a large supply of discounted properties removed from competition. No one knows how long it will take banks to return to the normal flow of foreclosed properties to the market. However, until they do, every homeowner has a better chance of selling their property.