3 Reasons to Sell Your Home this Spring
[Buying or Selling in Ocean
City MD is all about
timing and marketing acumen. Susan
Antigone - ShoreFuin4U with Long & Foster will help you connect the dots, review
the market
analysis, and decide if NOW is the right time for YOU.
Consider whether you are interested in moving up or downsizing; are you
thinking ahead for retirement; do you want a summer vacation destination; are
you interested in renting out? Are you preferring ocean front, bay
front, or inland. It's all about your lifestyle preferences. Call
or Email me and I will help you with the process.]
by The
KCM Crew on April 8, 2014 in For
Sellers
Many
sellers are still hesitant about putting their house up for sale. Where are
prices headed? Where are interest rates headed? These are all valid questions.
However, there are several reasons to sell your home sooner rather than later.
Here are three of those reasons.
1. Demand is about to skyrocket
Most
people realize that the housing market is hottest from April through June. The
most serious buyers are well aware of this and, for that reason, come out in
early spring in order to beat the heavy competition. We also have a pent-up
demand as many buyers pushed off their home search this winter because of
extreme weather. Sellers in markets where seasonal weather is never an issue
must realize that buyers relocating to their region will increase dramatically
this spring as these purchasers finally decide to escape the freezing
temperatures of the winters in the north.
These
buyers are ready, willing and able to buy…and are in the market right now!
2. There Is Less Competition - For Now
Housing
supply always grows from the spring through the early summer. Also, there has
been a growing desire for many homeowners to move as they were unable to sell
over the last few years because of a negative equity situation. Homeowners have
seen a return to positive equity as prices increased over the last eighteen
months. 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 the other potential sellers in your market put their homes up
for sale.
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 approximately 4% this year and 8% by the
end of 2015. 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
at about 4.5% right now. Freddie Mac projects rates to be 5.1% by this time
next year and 5.7% by the fourth quarter of 2015.
Moving
up to a new home will be less expensive this spring than later this year or
next year.
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