Five Reasons to Consider Selling Now

If you are thinking about selling anytime within the next few months, here are five things to think about and why:

1. Exposure. Spring is when most buyers are entering the real estate market. The more buyers that are out there means the more exposure your home will get. It is also the best chance of getting quality offers (maybe even multiple offers)!

2. Beat Foreclosures & Short Sales. Distressed property inventory levels are almost 45 times the rate of monthly foreclosure sales. There are also twice as many loans going 90+ days delinquent as are starting foreclosure. This means that there is a backlog of properties that will start coming to the market in about 90 days after banks clear up the paperwork challenges. These homes will compete with yours in sale price, so get your home on the market!

3. Interest Rates. Interest rates have begun to climb again, they have gone up 1/2% in the past 6 months. Every time the rates increase 1/4%, approximately 250,000 buyers are eliminated from the market by not qualifying for a mortgage. Waiting to sell your home could mean fewer buyers that are eligible to buy later. It will also mean that you will pay a higher rate on the next home you buy.

4. Difficulty in Qualifying for a Mortgage. Along with increasing interest rates, lending standards have been getting stricter due to the amount of foreclosures.

5. Get on With Your Life! Is the dollar difference in sales price worth putting your plans on hold? Only you can decide by weighing what made you want to move in the first place with today’s market.

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