Thinking of Selling Your
House? 5 Reasons to Do it Now
Many now realize that it is a great time to buy a home. Today, we want to look at why it might also be an opportune time to sell your house. Here are the Top 5 Reasons we believe now may be a perfect time to put your house on the market.
1.)
Demand Is High
The
most recent Existing Home Sales Report by the National
Association of Realtors (NAR) showed a 17.2 percent increase in sales over
July 2012; sales have remained above year-ago levels for 25 months. There are
buyers out there right now and they are serious about purchasing.
2.)
Supply Is Beginning to Increase
Total
housing inventory last month rose 5.6% to 2.28 million homes for sale.
This represents a 5.1-month supply at the current sales pace, compared with 4.3
months in January. Many expect inventory to continue to rise as 3.2 million
homeowners escaped the shackles of negative equity in the last 12 months and an
additional 1.9 million are expected to enter positive equity in the next 12
months. Selling now while demand is high and before supply increases may garner
you your best price.
3.)
New Construction Is Coming Back
Over
the last several years, most homeowners selling their home did not have to
compete with a new construction project around the block. As the market is
recovering, more and more builders are jumping back in. These ‘shiny’ new homes
will again become competition as they are an attractive alternative for many
purchasers.
4.)
Interest Rates Are Rising
According
to Freddie Mac’s Primary Mortgage Market Survey, interest rates
for a 30-year mortgage have shot up to 4.57% which represents a jump of more
than a full point since the beginning of the year. The Mortgage Bankers
Association, Fannie Mae, Freddie Mac and the National
Association of Realtors are in unison projecting that rates will continue
to climb.
Whether
you are moving up or moving down, your housing expense will be more a year from
now if a mortgage is necessary to purchase your next home.
5.)
It’s Time to Move On with Your Life
Look
at the reason you are thinking about selling and decide whether it is worth
waiting. Is the possibility of a few extra dollars more important than being
with family; more important than your health; more important than having the
freedom to go on with your life the way you think you should?
You
already know the answers to the questions we just asked. You have the power to
take back control of your situation by putting the house on the market today.
The time may have come for you and your family to move on and start living the
life you desire. That is what is truly important
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