The DilemmaOne of the most popular objections of my friends and other millennials about purchasing a home is they can't afford it. These days with all the assistance available for home buyers, money
5 REASONS TO SELL THIS WINTER
Here are five reasons listing your home for sale this winter makes sense.
1. Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyerdemand 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! More often than not, multiplebuyers are competing with each other to buy a home.Take advantage of the buyer activity currently in the market
2. There Is Less Competition Now
Housing inventory is still under the 6-month supply that is needed for a normal housing market.This means that, in the majority of the country, there are not enough homes for sale to satisfy thenumber of buyers in the market. This is good news for homeowners who have gained equity as theirhome values have increased. However, additional inventory could be coming to the market soon.Historically, the average number of years a homeowner stayed in their home was six, but hashovered between nine and ten years since 2011. There is a pent-up desire for many homeownersto move, as they were unable to sell over the last few years because of a negative equity situation.As home values continue to appreciate, more and more homeowners will be given the freedom tomove.The choices buyers have will continue to increase. Don’t wait until this other inventory comes tomarket before you decide to sell.
3. The Process Will Be Quicker
Today’s competitive environment has forced buyers to do all they can to stand out from the crowd,including getting pre-approved for their mortgage financing. This makes the entire selling processmuch faster and much simpler as buyers know exactly what they can afford before home shopping.According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 44days, after seeing a 12-month high of 48 days in January
4. There Will Never Be a Better Time to Move Up
If your next move will be into a premium or luxury home, now is the time to move up! The inventoryof homes for sale at these higher price ranges has forced these markets into a buyer’s market. Thismeans that if you are planning on selling a starter or trade-up home, your home will sell quicklyAND you’ll be able to find a premium home to call your own!Prices are projected to appreciate by 4.7% over the next year according to CoreLogic. If you aremoving to a higher-priced home, it will wind up costing you more in raw dollars (both in downpayment and mortgage payment) if you wait.
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? Ismoney more important than having the freedom to go on with your life the way you think youshould?Only you know the answers to the questions above. You have the power to take control of thesituation by putting your home on the market. Perhaps the time has come for you and your familyto move on and start living the life you desire.That is what is truly important.
Terry is the Principal Broker at Regional Realty. He is a motivated Realtor specializing with investors and new home buyers located in the following areas; Alexandria, Ft. Thomas, Ft. Mitchell, Indepe....