Perhaps you are on the fence about selling your home. Now is a fantastic time to be a seller!
The Aitken Home Team presents five reasons selling now could reap big rewards!
While rates have not hit rock bottom, they are still quite low and steadily luring buyers in the search for their next home. Many experts predict mortgage credit to remain quite affordable for the remainder of the year, however, buyers know that rates will inevitably rise and there is no time like the present to make their next move. Sellers would be smart to list early in 2018 before rates increase. If you are a seller who will also be a buyer, you will want to take advantage of currently low rates yourself. This is a win-win for both of your upcoming real estate transactions.
The law of supply and demand still stands as inventory is low and demand is high. There are more buyers than there are available homes on the market this problem only stands to get worse before seeing signs of greater supply. While the selection is quite limited for buyers, major concessions are being made in order to get into a home in 2018. This means that the current market status is working in favor of sellers.
Cash buyers/investors are on the hunt as well. The chances of getting an all-cash offer on your home is greater in this current market. Don’t pass up this potentially lucrative opportunity as inventory is likely to increase in the fourth quarter of this year.
Increased Home Prices
Home prices are still steadily rising. The earlier you sell, the more cash you are likely to make as prices are predicted to level off later in the year.
Simply put, buyers have more money in their pockets as unemployment is low and the stock market is surging. This creates a stronger level of confidence in buyers. Buyers are experiencing income increases as they secure better employment. New tax legislation has almost doubled the standard deduction which means fewer people are itemizing. Most people are experiencing tax cuts which mean more cash flow for the average buyer to work with.
The Millennial Committment
First-time buyers are stoked and ready to plunge into the world of house hunting. Millennials will make up a major component of the buyer market in 2018. In fact, they could make up as much as 43% of buyers purchasing a mortgage in 2018.
The bottom line: this can only mean good things for sellers—at all price points.