By Darin Windham, Realtor
Key Finders Group RE/Max Alliance
The busiest four months (May, June, July, and August) make up 40% of annual home sales volume, according to data from the National Association of Realtors. But we are currently in a Seller’s Market in our area. The volume of homes for sale is down, and the demand is up. So, if you have been considering listing your home, now is the time!
Here are THREE reasons you might not want to wait until late Spring or Summer to list your home!
- INTEREST RATES: Interest rates have remained at historic lows for quite some time now. But according to many leading economists, those rates are going to start to rise this year. In fact, they’ve already begun to go up.
While buyer foot traffic is typically lower in Winter and early Spring months, there are still a lot of buyers who didn’t find homes last year yet want to take advantage of those low rates. In fact, my wife and I bought our current home in the month of February.
Here’s why: Increasing interest rates can affect buyer’s purchasing power (in other words, how much house they can afford).
Listing your home now, while interest rates are still really low, will allow buyers to lock in their rate for 60 days (meaning all the way through Spring and into Summer).
- LESS COMPETITION: By putting your house on the market now, you won’t have to compete with all the homeowners following the trend of waiting for Spring or early Summer to list. In addition, your real estate agent can devote more time to marketing and selling your home during this less busy time. YAY!
- SERIOUS BUYERS: As I mentioned earlier, the number of buyers on the market tends to be less in the Winter and early Spring months. That might sound like a negative, but the silver lining is that you’ll attract the buyers who are serious and ready to move now. Case in point, our neighbor listed his home in February, and received 15 offers! And most of those were over the asking price!
For my South Huntsville neighbors who’ve been considering making a change, let me show you why now is the perfect time to list your home!
Darin can be contacted at 256-652-9032 or firstname.lastname@example.org
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