Dear Friends and Neighbors,
Many now realize that it’s a great time to buy a home. It might also be an
opportune time to sell your house. Here are the five reasons we believe now may be a
perfect time to put your house on the market. If you have any questions or would like to
speak to us about listing your home please feel free to give us a call.
Joan and John
1. Demand Is High
The most recent Existing Home Sales Reports by the National Association of
Realtors (NAR) show a double digit percent increase in sales year-over year;
sales have remained above last year’s levels for over 25 months. There are
buyers out there right now and they are serious about purchasing.
2. Supply Is Beginning to Increase
Total housing inventory is again approaching historic norms of a 5 month
supply compared with 4.3 months in January. Many expect inventory to continue
to rise as 3.2 million homeowners escaped the shackles of negative equity in
the last 12 months and an additional 1.9 million are expected to enter positive
equity in the next 12 months. Selling now while demand is high and before
supply increases may garner you your best price.
3. New Construction Is Coming Back
Over the last several years, most homeowners selling their home did not have
to compete with a new construction project around the block. As the market is
recovering, more and more builders are jumping back in. These ‘shiny’ new homes
will again become competition as they are an attractive alternative for many
4. Interest Rates Will Again Rise
Although Freddie Mac’s Primary Mortgage Market Survey shows that interest
rates for a 30-year mortgage have softened recently, most experts predict that
they will begin to rise later this year. The Mortgage Bankers Association,
Fannie Mae, Freddie Mac and the National Association of Realtors are in unison
projecting that rates will be up almost a full percentage point by this time
next year.Whether you are moving up or moving down, your housing expense will be more
a year from now if a mortgage is necessary to purchase your next home.
5. It’s Time to Move On with Your Life
Look at the reason you are thinking about selling and decide whether it is
worth waiting. Is the possibility of a few extra dollars more important than
being with family; more important than your health; more important than having
the freedom to go on with your life the way you think you should?
You already know the answers to the questions we just asked. You have the
power to take back control of your situation by putting the house on the market
today. The time may have come for you and your family to move on and start
living the life you desire. That is what is truly important.