5 Reasons To Sell This Summer

Dated: 07/06/2016

Views: 215

5 Reasons to Sell This Summer | Keeping Current Matters

As the temperature rises, buyers are coming out ready to purchase their dream homes. The summer is a great time to list your home for sale. Here are five reasons why:

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.

This means, in most areas, 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 to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this summer.

Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017.

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

3. The Process Will Be Quicker

Fannie Mae just announced that they anticipate an acceleration in home sales that will surpass 2007's pace by late summer. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler.

4. 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 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to increase by nearly a full percentage point in the next 12 months.

5. 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 control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

Want to Advertise on this Site?

Latest Blog Posts

Closing Costs And Taxes

Are Closing Costs Tax Deductible Under the New Tax Law? Here’s the scoop on what’s tax deductible when buying a house.Are closing costs tax deductible? What about mortgage interest? Or;

Read More

How To List Your Home For The Best Price

How To List Your Home for the Best PriceIf your plan for 2019 includes selling your home, you will want to pay attention to where experts believe home values are headed. According to the latest 

Read More

Feb 13 2019 25821 1

Tax Deductions for Homeowners: How the New Tax Law Affects Mortgage Interest Tax changes for 2019 change the landscape for homeowners. Tax season is upon us once again, and to make it even more

Read More

Feb 5 2019 Down Payment

ONE MORE TIME… YOU DO NOT NEED 20% DOWN TO BUY A HOME The largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising

Read More