As we discussed last month one reason to sell now is the still strong demand. Inventory is still low and you could be missing out on a great opportunity for your family. Here are 4 reasons why the time to sell is now.
1. There Is Less Competition
Slower price gains and the lowest interest rates in nearly two years did little to spur November home sales as low housing affordability and tight supply conditions remained obstacles to entering the market for would-be buyers, according to the CALIFORNIA ASSOCIATION OF REALTORS® (CAR). The tight inventory is unable to satisfy the number of buyers in the market. This equates to less competition for homeowners selling today as compared to next spring when many homeowners will decide to put their home on the market.
2. Homeowners and Buyers are Motivated
Many homeowners were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years, enabling them to finally make a move. Many of these homes will be coming to the market in the near future. The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell.
3. 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 23.5% from now to 2019 [source]. 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 in the low 4’s right now. Rates are projected to be over 5% by this time next year [source].
4. It’s Time to Move On with Your Life
Look at the reason you decided to sell in the first place and determine 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?
Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.
About Jaleesa Peluso
Jaleesa is Realtor who specializes in Laguna Beach and Dana Point real estate and coastal homes. For more information about South Orange County real estate, give us a call at (949) 395-0960.