Trying to time the sale of your home to occur at the peak of the market is as futile as trying to time the stock market. Or is it?
The typical “Top 5 reasons to Sell Your Home Now” that you hear time and time again:
1. Demand Is High:
The most recent Existing Home Sales Report by the National Association of Realtors (NAR) showed a declined 1.9 percent to a seasonally adjusted annual rate of 5.29 million in September from a downwardly revised 5.39 million in August, but are 10.7 percent above the 4.78 million-unit pace in September 2012; sales have remained above year-ago levels for the past 27 months; There are buyers out there right now and they are serious about purchasing.
2. Supply Is Beginning To Increase:
Total housing inventory at the end of September was unchanged at 2.21 million existing homes available for sale, which represents a 5.0-month supply5 at the current sales pace, compared with a 4.9-month supply in August. Many expect inventory to continue to rise as millions of homeowners escape the shackles of negative equity. 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:
A total of 291 metropolitan areas across the country now qualify as improving housing markets, according to the National Association of Home Builders/First American Improving Markets Index (IMI) for September. This reflects a gain of 44 markets from August and marks the index’s highest level since it was initiated two years ago. 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, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.49 percent in September from 4.46 percent in August, and is the highest since July 2011 when it was 4.55 percent; the rate was 3.47 percent in September 2012.
5. It’s Time to Move On With Your Life:
Families should consider what their opportunity costs are by remaining in a house they do not want. First, if they wait to sell their current house until prices rise, then the price of the replacement house they want to purchase may similarly rise, including the risk of rise in mortgage rates. So their additional profit from the sold house is simply used to pay a higher price on the replacement house. If the replacement house would provide the family greater happiness, then they are forgoing enjoying that new neighborhood, better school, shorter commute or whatever they are hoping to gain in a new house.
And while all of this holds very true, for the majority of homeowners, the decision on when to sell a home is driven far more by changing life circumstances such as job transfer, growing family, empty nest, taking in elderly parents and the like.
So what if I told you that regardless of your reason or motivation to sell, there is a way for you to find out exactly how much your home would sell for without actually selling it? That’s right! What if you actually received real offers from qualified Buyers that outlined everything you needed to know? What if you actually received a net sheet with real proceeds? Wouldn’t that take all the “guess” work away and truly solve the mystery… “Is now a good time to sell my house” and “What is my house worth”? And what if after being presented with actual offers you were in complete control of deciding whether or not it actually even made sense, for you? Well there is a new and better way to know the REAL VALUE of your home, why don’t you Test Sell Your Home™
Contact Vianey Ojeda to find out more:
(909) 294-7265 | firstname.lastname@example.org | www.testsellyourhome.com