Many sellers are still hesitant
about putting their house up for sale. Where are prices headed? Where are
interest rates headed? Can buyers qualify for a mortgage? These are all
valid questions. However, there are several reasons to sell your home sooner
rather than later. Here are five of those reasons.
1. The Most Serious Buyers Are
Out Now
Most people realize that the
housing market is hottest from April through June. The most serious buyers are
well aware of this and, for that reason, come out in early spring in order to
beat the heavy competition. These buyers are ready, willing and able
to buy…and are in the market right now!
2. There Is Less Competition
Now
Housing supply always grows from
the spring through the early summer. The choices buyers have will continue to
increase over the next few months. Don’t wait until all the other potential
sellers in your market put their homes up for sale.
3. The Process Will Be Quicker
One of the biggest challenges
of the 2014 housing market has been the length of time it takes from contract
to closing. Banks are requiring more and more paperwork before approving a
mortgage. As the market heats up, banks will be inundated with loan inquiries
causing closing timelines to lengthen. Selling now will make the process
quicker and simpler. Make sure you're working with a competent, qualified mortgage professional who can help streamline this process.
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 over 19% from now to 2018. 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 at about 4.5% right now. Rates are projected to
be well over 5% by this time next year.
5. It’s Time to Move On with
Your Life
Look at the reason you decided
to sell in the first place and decide 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?
You already know the answers to
the questions we just asked. You have the power to take back control of the
situation by pricing your home to guarantee it sells. 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.
