Is spring upon us, or will there be 6 more weeks of winter? Depending on which groundhog you listen to today, you may have less time than you think to get your home on the market before the busy spring season.
Many sellers feel that the spring is the best time to place their homes on the market as buyer demand traditionally increases at that time of year. However, the next six weeks before spring hits also have their own advantages.
Here are five reasons to sell now.
- Demand is Strong
Activity at the Lake of the Ozarks is already on the rise! These buyers are ready, willing and able to buy… Take advantage of the strong buyer activity currently in the market.
- There Is Less Competition Now
Housing inventory is low, but additional listings are about to come to market. Potential buyers are already researching and planning visits to the lake to view property. The choices they have will increase in the spring, so don’t wait for this other inventory to come to market before you sell.
- The Process Will Be Quicker
One of the biggest challenges of the 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. There is less overall business done in the winter. Therefore, the process will be less onerous than it will be in the spring. Getting your house sold and closed before the spring delays begin will lend to a smoother transaction.
- 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 4.7% over the next 12 months according to CoreLogic. 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 around 4% right now. Rates are projected to rise by half a percentage point by the end of 2017.
- 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. Do you want to relocate to be with family? Are you interested in selling for health reasons? Is your lake home a second property that has become difficult to manage? Do you need to downsize or would you like a larger home? If your answer is yes to any of these questions or others that you have been pondering, call the Jason Whittle All Pro Team at 800-836-2005. We can help you move on with your life!
For full details of this article, refer to the Keeping Current Matters blog.