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Why Is Now a Great Time to Sell Your House?
Manage episode 170122311 series 1316981
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Why sell now instead of waiting until spring? There are five reasons I want to share with you today.
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Why should you consider listing your house now instead of waiting until spring? There are five key reasons:
1. There is low inventory. At the end of 2016, there were only 2,424 properties on the market in Guilford County. Compared to the 2,863 homes that were in the market at the end of 2015, that’s a 15% reduction.
2. Buyers at this time of year have a sense of urgency. If they’re motivated enough look at your house during January, you know that they’re serious. Plus, you won’t have to deal with any looky-loos, as is the case when the weather gets warmer.
3. There will be more movement in the lower price points. If you’ve been saving up for a down payment, you may have earmarked your tax refund to purchase a home.
The winter market has plenty of things going for it.
4. There’s a lot of uncertainty and speculation regarding the incoming administration. Will they require a larger down payment? Nobody knows.
5. There is a potential interest rate hike coming. Remember—a 1% interest rate hike is the same as the price of a house going up 10% from a payment standpoint. If rates go up, the buyer pool will shrink. This will result in less demand for your house.
If you have any questions about this topic or are thinking of buying or selling, feel free to call or email us for a free consultation. We look forward to helping you!
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