5 Reasons Selling Makes Sense1. Demand Is StrongReady, willing, and able to purchase buyers are in the market right now! Take a look at the latest Buyer Traffic Index from the
5 Reasons Selling Makes Sense
Dated: February 7 2020
5 Reasons Selling Makes Sense
1. Demand Is Strong
Ready, willing, and able to purchase buyers are in the market right now! Take a look at the latest Buyer Traffic Index from the National Association of Realtors (NAR). This shows that the buyer demand has continued to increase from last year - and remains very strong around the country. It is extremely common today to see multiple buyers competing with each other for the same home. Take advantage of this buyer surplus.
2. Competition is Low
Housing Inventory is still under the 4-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.
Statistically, a homeowner only remains in their home for 6 years. This has not been true over the last decade. Many homeowners who purchased in the early 2000’s were unable to sell over the last few years due to negative equity situations. As homes in our area continue to appreciate, more and more sellers will be in a better financial position to sell their homes. That means buyer’s options will increase. DO NOT WAIT UNTIL ADDITIONAL INVENTORY HITS THE MARKET BEFORE YOU DECIDE TO SELL.
3. The Process Will Be Quicker
The market is extremely competitive for buyers. They are being put in a position where they need to stand out to grab the attention of sellers when a property is in high demand. Most buyers are pre-approved before even stepping foot in a listing and they know exactly what terms they can afford. This makes the process a whole lot cleaner and faster for sellers.
Ellie Mae’s latest Originations Insight Report states that the average time-to-close is only 48 days in todays market.
4. There Will Never Be a Better Time to Move Up
If your next move will be into a luxury home or simply a higher priced home, now is the time to move up! Inventory at these higher price points is surprisingly high. This has resulted in a buyers market for those looking to scale up! That means that you can sell your starter home quickly and upgrade into your dream home easier than ever.
CoreLogic predicts that home prices will appreciate by 5.2% in 2020. If you plan to move into a higher priced home, it will make the most financial sense to take action sooner, rather than wait until later as down payments and mortgage payments will increase along with the market.
5. It’s Time to Move on With Your Life
There is a reason you are considering selling. You need to decide if that reason is worth selling now. Is the potential upside of waiting for the market to increase (or decrease) worth putting your dreams on hold? Is it worth you being away from your family for another year? Is a potential for more money more important than having the freedom you desire?
You have the power to create your new future by putting your home on the market. Has the time come for you and your family to move on and start living the life you desire?
Selling a home in today’s market can be challenging – I understand that. Despite these challenges, hundreds of homes are sold every week in Southeast Coastal North Carolina. What is the difference....