Thought about selling your home?
Now may be the best time to sell. When consumers are on a mission to buy something and can’t find what they want, they often encounter that frustrating feeling of slim choices.
Income tax returns are coming in and children are just a couple months from getting out of school. Buyers are starting to look for homes. Housing choices are more limited right now in Central Florida under $220,000 and many other areas across the country, which is creating a pent-up demand as buyers crave new choices.
Many buyers are ready to purchase and are actively monitoring property listings for “the one” and will spring into action when they learn of a fresh option.
Here are 5 reasons why it makes sense to put your home on the market right now:
1. Low inventory
It comes down to “Economics 101”: there are a shortage of homes for sale. This creates a highly desirable atmosphere to attain the best possible price and terms for a home if sellers prep their house properly.
2. Rising appreciation
After several years of dealing with distressed properties and foreclosure inventory that caused values to decline, home values have been on the rise.
Many sellers are in an enviable to sell and walk away with a nice profit that they can use on the next place they decide to call home.
3. Low Interest Rates
With interest rates still hovering around record low numbers, the cost of borrowing money remains extremely attractive. Couple that with the variety of attractive loan options available, there have never been more responsible options for buyers at a variety of different price points to purchase a property, whether it is a primary residence, secondary residence, or investment property.
4. New construction boom
Many new home options are available to be built that offer a variety of choices from move-up, downsizing, customizing, turnkey, and luxury. With healthy appreciation and low interest rates, sellers may be pleasantly surprised to find that a new home could be more affordable than they previously thought. Not to mention getting a new style home, a home warranty, new roof, new A/C, and updated technology.
5. “Wow” technology and marketing tools
There has never been a set of more powerful tools in the market place to provide maximum exposure and reach for a seller’s property. Predictive analytics, social media marketing, virtual tours, drones, and the internet are all powerful storytelling options to connect the dots for the right buyer much faster.
On top of that, technology has brought us powerful tools such as video calling applications that allow a buyer to view a property from anywhere in the world.
If you have been waiting for the right time to sell your home, there may not be a better time than now. Home prices have risen for at least four consecutive years and there is no telling how much longer they will continue to climb. Interest rates are beginning to rise and there is no telling what the market will do in the future.
Consult your real estate professional today to see what your home is worth on today’s market and see how much equity you have built in your home.
Ryan Odenweller, Keller Williams Realty Ryan.Odenweller@kw.com 863-271-7882