Considering Selling? Don’t Wait Too Long
The strength of the economy has always been judged by how the housing market performs. When the economy is strong people are confident about the future and they are more inclined to buy a house or upgrade their current home.
Recently released data from the National Association of Realtors (NAR) indicates that now is a great time to sell your home. The best time to achieve the best price is when the supply is low and the demand is high.
It is no secret that, for a while now, the supply of homes for sale has been below what’s necessary to sustain a normal market, and demand remains strong. It makes sense that waiting to sell will only increase the competition between you and the other sellers, and once school is back in session buyers become less motivated.
While the last couple years have been favorable for sellers, it won’t last forever. Subsequently, sellers who wait too long to put their home on the market, will likely run into more competition.
“It’s important for people not to be caught up in trying to time the market PERFECTLY,” Shelley Bianchi-Pelle, broker associate said. “Even with all the indicators and the best research, they won’t know when we are at the top or the bottom of a market until it starts to turn.”
Interest rates are still low … for now. For both the buyer of your home and your next home purchase, low interest rates help make the transaction advantageous. Though mortgage rates aren’t expected to rise significantly this year, they are forecast to increase overall.
Increasing interest rates are another sign of a good economy, but they will push out some potential homebuyers. The current low rates can serve as a catalyst for many potential homebuyers to get moving sooner rather than later. But as interest rates continue to rise, you’re less likely to see as many bidding wars.
There’s no perfect formula to determine the exact time to sell your house, but partnering with real estate professionals who know the local market and have the best resources at their fingertips, can help you decide what’s best for you.
The Platinum Group, Realtors are the local experts in the Pikes Peak Region and more than 80 percent of their business comes from referrals. The team at The Platinum Group knows, the best Realtors put service ahead of the number of transactions, and they can get things done right when you’re ready to sell.
A Platinum Group agent will lead you through handling disclosures, advise you about improvements you should make, help research potential buyers, and negotiate the best terms for your situation.
If you’d like a no-obligation assessment of your home’s value call 719-536-4326.