A lot of our clients have been asking us if they should wait until spring to sell their home. Truthfully, there are quite a few things they can take advantage of in the market by selling now. Here are five reasons to sell now instead of waiting until spring:
1. Homes are still selling every day. In the next 90 days, we expect to sell over 3,000 single-family homes in the greater metro area. In November and December of last year and January of this year, there were over 3,3000 single-family homes sold.
2. Interest rates. I’m sure you’ve heard that the Fed is raising rates. They’ve gone up this year, but are still around 4.25% to 5%. However, we will likely see rates increase by 0.75% to 1% in the next year, making homes significantly less affordable.
3. Buyers are more serious now. The buyers who are out in this kind of market aren’t looky-loos. They are looking to capture a low interest rate and get a deal done now.
4. It’s the time to sell your relocation-type property. This is the time of year when many corporations are offering jobs to relocation buyers and they have to buy now in order to move at the beginning of next year. They’re going to want to get a deal done quickly.
5. Common sense. I call it supply and demand. You’re going to have less competition around this time of year than you will in the spring. In the spring, the market will be flooded with 20% to 30% more inventory. When buyers have more choices, the process of selling a home becomes more difficult.
If you’re considering selling your home at all in the next year, I urge you to give us a call or send us an email today so we can assess your personal situation and determine what the best course of action is. I look forward to hearing from you soon.