Top 5 Reasons to Sell Your Home Now
Seller The LA Home Girl Team (Compass) December 4, 2017
Seller The LA Home Girl Team (Compass) December 4, 2017
If you have been wanting to sell your house for a while but just couldn't get into favorable conditions, 2018 is an opportune time to sell it. Here are the top 5 reasons why:
If you know about the concept of supply and demand, you'd know that when something is in short supply, its value tends to increase. The REALTORS® Confidence Index Survey showed that low inventory in the homes for sale has been a major issue affecting transactions. This puts sellers in a position of advantage because as the number of homes for sale is low, the value of those that you could put up for sale will swell. You could also take note that Historical NAR data shows that housing prices appreciate by 5% when supply falls below 6 months. That means that you could expect the median prices for housing to be higher.
It’s the American dream to own a house, and there’s a list of gains that a homeowner has such as tax credits, equity building, and just the simple but joyful experience of finally having a house that they can call their own and customize to their heart’s desires.
These advantages will be more appealing now that consumer confidence has risen. This is caused by a decrease in unemployment and an increase in wages. These favorable conditions may propel buyers to invest in the housing market.
Based on the responses reported in the September 2017 REALTORS® Confidence Index Survey, buyer conditions were rated “stable” to “very strong” in all states. In the midst of low interest rates, rental appreciation, improving job market, and the general confidence in the economy, the demand for buying houses is strong in this time.
There has also been a reported decrease in the expected number of days it takes to sell homes. In September 2017, it took just 34 days for properties to stay in the market.
As mentioned in the previous passages, short supply tends to result in an increase in value. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years.
According to NAR, the median price of single-family homes sold in August 2017 is $255,550, which is 5.6% higher than a year ago. If you’re a seller whose property value dropped during the recession, you could benefit from these high housing prices.
Another thing that could benefit you as a seller is the rising rent prices. According to NAR, over the years, and in many parts of the country, specifically in the Northeast, South, and Midwest regions, it’s cheaper to buy a house than to rent one.
This drives buyers to opt for owning a property rather than to have their money put into something that would not build their equity.
Stay up to date on the latest real estate trends.
A clean, well-staged home with sharp photos and strategic updates can draw buyers & stronger offers.
You can obtain separate earthquake coverage, often through the California Earthquake Authority.
You’ll trade a traditional main street for small clusters of local spots, and you’ll gain light, and outdoor time.
If you want an established single-family neighborhood with convenient freeway access, Glendale is a contender.
Seller
You have more control over the timing of the sale and won't need to compete with the influx of new listings.
General
Tackle a few boxes or one room each day, take breaks, and enjoy the process of arranging your new home.
Seller
Closing delays are undeniably frustrating, but remember that they are often just a bump in the road.
Seller
How will this affect your upcoming move? Do you need to reschedule a moving truck or other service providers?
Experience the advantage of working with a collaborative team that prioritizes strategy, service, and exceptional outcomes.