Benefits Of Selling Your Home This Summer

Dated: 06/21/2017

Views: 78

Are you apprehensive about putting your home on the market in these hot summer months? Here are 5 great reasons to list your home this summer! 

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! More often than not, multiple buyers 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 currently at a 4.2-month supply, well under the 6-months needed for a normal housing market. This means, in the majority of the country, 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 could be coming to the market soon.

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, builder's confidence in the market has hit its highest mark in over 11 years. Experts are predicting that new construction of single-family homes will ramp up this summer.

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 anticipates an acceleration in home sales that will surpass 2007's pace. As the market continues to strengthen, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to a new low of 42 days, after seeing a 12-month high of 48 days in January.

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 4.9% 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 around 4% right now. Rates are projected to increase 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.

That is what is truly important.


Via KCM: http://www.keepingcurrentmatters.com/2017/06/05/5-reasons-you-should-sell-this-summer/

Blog author image

Amanda White

Revolutionizing the Northern Nevada real estate market since January of 2015! As a lifelong resident, I have a unique expertise and love fast closes! I am a Reno native and real estate is my passion.....

Latest Blog Posts

3 Common Fears Of Home Buyers And How To Overcome Them

Buying your first home can be one of the most exciting experiences of your life.But it can also be one of the scariest.Buying real estate is a complicated process. And if you've never purchased a

Read More

Learn Stuff

    Have you heard of the word ginosko? It's a Greek word. It has a great meaning. I don't think there is a English word that means the same concept. The word is used for people who

Read More

Real Estate Market Insights 2018

What's in store for the market in 2018? It's impossible to know for sure, here are the current trends to predict what may happen.Home prices and values are expected to rise marginally. Home prices

Read More

This MoneySaving Trick Made My Home Look Amazing

In my dreams, I'm a posh interior design connoisseur with unlimited resources. In reality, I'm guilt-ridden every time I splurge on a West Elm throw pillow. With that said, I recently got a new

Read More