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5 Reasons to Sell this Season
August 05, 2019 at 12:12pm | Rima Rafeh
Ahh.. you smell that? The crisp morning air, crunchy leaves as you walk, and is that a pumpkin spice latte in your hand? Its official– autumn is here. With everything coming at you fast, children back in school, Thanksgiving, Christmas, and New Years the last thing on your mind is selling your home. You may even have it as a New Years’ resolution to sell your home next year. Here are 5 reasons why you should consider selling now rather than later.
1: Demand is exceeding the supply.
There are more buyers with money in hand willing to buy than homeowners ready to sell. According to the Realtors Confidence Index, the NAR (National Association of Realtors) shows that demand for homes on the market is very strong throughout most of the country this time around.
2: Less competition with other homeowners willing to sell.
Didn’t you hear? The NAR’s latest report states that homes posted as “for-sale” are under a 4.7 month supply as opposed to the 6 month supply needed to have a normal housing market.
Meaning that demands are way higher than the supply. In most areas, there are not enough homes for sale to satisfy the insatiable demand for housing; especially here in California. This is great for home prices, people are willing to pay more when the supply is low.
3: Quicker selling process.
Fannie Mae has announced that the accelerations of home selling are surpassing the 2007 pace. The market is hot right now, banks are being contacted with more loan requests, meaning that the closing timelines are extending. Right now is the best time to sell because the process is simple and quick.
4: The sooner you sell the sooner you get to move into your next home.
Moving. Taunting but so fulfilling. Sooner or later you will have to move out anyway. Buying a home now can be more beneficial to doing so later as the price of homes is projected to rise over 5.3% in the coming years. According to CoreLogic, if you are moving into a more expensive home you can save more money by doing it sooner, costing you less in down payments and mortgage payments. You can also score a 30-year mortgage housing plan with an interest rate of 3.5% right now. Interest rates are projected to increase as well as home prices in the next 12 months. Small increases can leave you with a substantial decrease in money in your pocket–especially for home buyers.
5: Why are you selling?
Do you ever ask yourself why you are selling your home? Is it because you are upgrading in your life? More space, closer (or further) to family, spend less time commuting or just need a change of scenery?
The answers to these questions lie only in your mind. Take control your life and decide to sell your home.