I hear all too often "We will wait for the spring market to list" and while that may be a good strategy for some years, for 2019 - that is NOT the case. Let me explain to you three very specific, data driven numbers that will help you see why listing
your home now may not only minimize days on market but will also maximize return on your profit!!
1. Home sales have decreased by 6%
What does this mean for the average seller, its very simple.....Supply and Demand! There are serious buyers on the hunt for a home RIGHT NOW despite winter temps, ice and snow AND with limited inventory, aka less homes to choose from, this equates
to more money for you! We know that buyers are willing to pay more for homes right now because of this. So my question to prospective sellers who are waiting, do you want to make more money or less money on the sale of your home? If you are
on the fence or even considering it, this is just one of the reasons you should jump down off that fence and go for it!
2. Home sale prices have increased by 8% in the last 2 months
Ever hear the term a "perfect storm?" Right now we are experiencing the perfect storm for sellers! We already know that inventory is low which is keeping the current sellers market in place but we are also seeing the prices of home sales continue to creep up because, well because they can! Buyers want and frankly often NEED to buy because of their jobs, relocation, familial changes, divorce, etc and they will continue to buy irregardless of the fact that they know they are paying slightly more for the home! Look at it this way, for a seller selling a $300,000 home, 8% equates to $24,000 EXTRA in your pocket while a buyer financing $24,000 over the course of 30 years is only about $100 a month!
3. Buyers Want to Lock in Rates … Before They Rise Again
Rising mortgage rates worry prospective home buyers, spurring them to lock in the current ones despite them being less than ideal. The fact that rates are rising - or shall I say continuous talk about them rising- is actually causing demand, especially among first-time home buyers as they flood into the market and lock in a mortgage rate and price before both go even higher. And many first-time home buyers are looking in higher price ranges than in prior years for several reasons from renting longer, higher education level which equates to higher pay, and better saving habits. The average first-time home buyer today is 32 and makes on average $72,000 a year. That stat is way up over the last decade. This opens a huge door for the baby boomers who are retiring, down sizing and relocating from there larger and more expensive homes! First-time home buyers generally do not have contingent offers - which is always ideal!
To sum it all up, NOW is the time to list! The spring market will bring more inventory - it is inevitable!! With more inventory there will be less demand for your home. Couple that with rising interest rates which drives home
prices down, you could be leaving thousands, possibly tens of thousands of dollars on the table!
Interested in a consultation - NO OBLIGATIONS? Contact me to schedule!