Why You Should Sell Your House Now - 5 Reasons
Many now realize that it is 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.
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 purchasers.
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.
