Why You Shouldn’t Wait Until Spring to Sell Your House: A Seller’s Guide
As you plan for the coming year, the prospect of moving may be on your mind. However, you might be wondering when the best time is to make your move. While spring typically sees a surge in home-buying activity, there’s no need to wait until then to sell your house. Here’s why selling now could be a smart move for you.
- Seize the Opportunity of Lower Mortgage Rates: Last October, 30-year fixed mortgage rates peaked at 7.79%. Since then, they have steadily declined, reaching their lowest level since May this January. This trend makes moving more affordable than it has been in recent months. Moreover, with more buyers entering the market due to favorable rates, there’s increased demand for homes. According to Sam Khater, Chief Economist at Freddie Mac, potential homebuyers are returning to the market with the stabilization of rates, enhancing the pool of potential buyers for your property.
- Stay Ahead of the Competition: Despite the increasing number of buyers, there are still more individuals seeking to purchase homes than there are homes available for sale. This places you in a favorable position as a seller. However, it’s worth noting that there has been a recent uptick in new listings, suggesting that more sellers are entering the market. By listing your house now, you can beat the competition and ensure that your property stands out. Pricing it appropriately with the help of a real estate agent could lead to a quick sale with multiple offers, as explained by U.S. News.
3. Maximize Profits with Rising Home Prices: Industry experts predict that home prices will continue to rise throughout the year. This means that selling your current home and purchasing a new one now could potentially save you money in the long run. By acting sooner rather than later, you have the opportunity to buy your next home before prices increase further.
4. Leverage Your Equity: Homeowners today are sitting on substantial amounts of equity. According to a recent report from CoreLogic, the average homeowner with a mortgage has over $300,000 in equity. If concerns about affordability have been holding you back from selling, your equity can serve as a valuable asset in facilitating your next move. It may even cover a significant portion, if not all, of the down payment for your next home.
In conclusion, if you’re considering selling your house and transitioning to a new one, don’t hesitate to reach out to Davis Team, a local real estate expert, to initiate the process. Selling now can give you a competitive edge and ensure a smooth transition to your next home.
Davis Team has negotiation skills to allow you to stay in your home after you sell. Contact us today to learn more and find out how we can help you sell and stay in your home while you look to buy a new one. We work with home sellers and buyers FULL TIME and want to help you make the most money for your house while making the transition to a new home seamless and painless.
Provided courtesy of the Davis Team | Keller Williams Realty
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