November 15th, 2011, posted by Alana
1. Rates are at an all time low, which is a great incentive for both buyers and sellers and for the same reason. Low rates equal low monthly payments for the buyer and when the seller sells their home, they too benefit from low monthly payments on their new home. And with all good things that occur, we know that it will eventually have to come to an end. The trouble is, we do not know when the end is. All we can do is make the best of it and sell now while we still can get the most out of it.
2. The homes available for sale have dropped in inventory by 22.3% from last year. Which also is saying, when supply is low, demand is high. And the ones holding the supply, which in this case is the seller, has an added advantage. Luckily for the sellers, this means when they put their home on the market, they have less to compete with. Also, for buyers to get the home of their dreams, they would have to be very competitive in their offer since they do not have many homes to choose from. Then resulting in multiple offers being placed on the seller’s home, causing a bidding competition among the buyers and allowing for the seller to receive more money on the sale of their home. Isn’t that nice?
3. Sell now and find yourself only working with serious buyers, who are not just out looking because the weather is nice and it’s convenient for them. There are three types of buyers, generally. Type “A” who is ready to buy a home now. Type “B” who is not ready to buy now, but wants to look for one now and will be ready after 6 months or so. And type “C” who not only is “just looking” because they are neither ready nor willing but love home shopping and attending open houses. Type “A” buyers are motivated by reasons of their own, they have deadlines they need to meet and have done all the preparation necessary to be willing and able to buy now. Those are the buyers that will be looking no matter the season or weather. So sellers can rely on them to be out and about searching for their home, even in the dead of winter. And being that we are getting close to the season, despite our wonderful drastic weather changes, sellers can be certain that when they put their home on the market now, they will only be working with buyers who are ready, willing and very able. As oppose to waiting for the warmer months to sell and have to worry about more competition, less serious buyers and the works.
4. Sell your home now before Fannie Mae releases all of their Short Sales and Foreclosures to avoid competing with discounted home values. Luckily for our market, we do not have as many short sales and foreclosures to compete with, when compared to the rest of the nation. Although we have a few, it’s best to sell your home now before Fannie Mae decides to release all the inventory in their portfolio. What that means for a seller is that the seller will be competing with discounted homes if they wait for that to happen. Rather, sell now so to avoid competing with homes that are being sold at a discounted price. Especially when some of those homes are in better condition than some regular sale homes.
5. A major factor in purchasing a home is the financing. Now is a great time for buyers to obtain financing before the banks are required to tighten their lending position, even more so then what is expected to happen for 2012. With this added pressure, buyers are moving quickly to be in a home before the end of the year. So sellers, for you this means you will have plenty of buyers knocking on your door.
These are just a few reasons why now is the perfect time to sell your home, the best thing to do is consult with a trusted Realtor to find out the best marketing plan to get your home sold quickly.