5 Reasons to Sell Now

Many sellers are still hesitant about putting their house up for sale. Where are prices headed? 

Where are interest rates headed? Can buyers qualify for a mortgage? These are all valid 

questions. However, there are several reasons to sell your home sooner rather than later. 

Here are five of those reasons.

Demand is Strong
There is currently a pent-up demand of purchasers as many home buyers pushed off their
search this past winter & early spring because of extreme weather. According to the National
Association of Realtors (NAR), the number of buyers in the market, which fell off dramatically
in December, January and February, has begun to increase again over the last few months.
These buyers are ready, willing and able to buy…and are in the market right now!

There Is Less Competition Now
Housing supply is still under the historical number of 6 months’ supply. This means that, in
many markets, there are not enough homes for sale to satisfy the number of buyers in that
market. This is good news for home prices. However, additional inventory is about to come in
to the market.

There is a pent-up desire for many homeowners to move as they were unable to sell over the
last few years due to a negative equity situation. Homeowners are now seeing a return to
positive equity as prices increased over the last eighteen months. Many of these homes will
be coming to the market in the near future. Also, new construction of single-family homes is
again beginning to increase. A recent study by Harris Poll revealed that 41% of buyers would
prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will continue to increase over the next few months. Don’t wait until
all this other inventory of homes comes to market before you sell.

The Process Will Be Quicker
One of the biggest challenges of the 2014 housing market has been the length of time
it takes from contract to closing. Banks are requiring more and more paperwork before
approving a mortgage. As the market heats up, banks will be inundated with loan inquiries
causing closing timelines to lengthen. Selling now will make the process quicker & simpler.

There Will Never Be a Better Time to Move-Up
If you are moving up to a larger, more expensive home, consider doing it now. Prices are
projected to appreciate by over 19% from now to 2018. If you are moving to a higher priced
home, it will wind-up costing you more in raw dollars (both in down payment & mortgage
payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate
in the low 4’s right now. Rates are projected to be over 5% by this time next year.

It’s Time to Move On with Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth
waiting. Is money more important than being with family? Is money more important than
your health? Is money more important than having the freedom to go on with your life the
way you think you should?

Only you know the answers to the questions above. You have the power to take back control
of the situation by putting your home on the market and pricing it so it sells. Perhaps, the
time has come for you and your family to move on and start living the life you desire.
That is what is truly important.

Article courtesy of KeepingCurrentMatters.com