As the real estate market has been recovering over the past few years, there were many home owners that unfortunately lost their shirt. Others have been holding on (we have) and stayed put, just because losing the money that they have put into the house was not an option. The tide has turned – and it has turned in a big way.
Inventory is extremely low and buyers are competing for the few “good” and well priced homes on the market. Many buyers are still pushing into the market because of the military moving season and because interest rates -though expected to rise- are still historically low. If you’ve ever been thinking about selling your home, NOW is the right time to do that.
Ask yourself if your home still meets your needs?
- Has your family situation changed or will it in the near future?
- Do you want to move closer to family or friends?
- Does the area where you live no longer suit your needs?
- Does your home no longer meet your space requirements?
- Do you foresee a job relocation?
- Do you just need a change?
If you answered “yes” to any of these questions, NOW is the time to act.
Home Sales Are UP
Existing home sales have risen 20% since 2011, due to increased job growth, low mortgage interest rates and increased demand.
Motivated buyers are competing for limited inventory.
Sellers reported that their homes were on the market a median of 5 weeks before they sold.
Sellers sold their homes for an average of 97% of the listing price.
(in some areas even higher!)
- 21% sold their homes for the full listing price
- 10% sold their homes for more than their listing price!
- The majority of sellers did not reduce their asking price.
- 53% of sellers did not reduce their asking price
- 25% reduced the price once.