1. Strong Demand. The number of people out actually physically looking at homes right now is called “Foot Traffic. The “Foot Traffic” numbers show that there are significantly more prospective purchasers currently looking at homes than last year! These buyers are ready, willing and able to purchase… and are in the market right now!
Take advantage of the Home Shoppers / Buyers currently in the market.
2. There is Less Inventory currently Listed For Sale.
Housing supply is under the 6 months’ supply needed for a normal housing market.
There are not enough inventory of homes for sale to satisfy the number of buyers in the Housing Marketplace. This helps home prices move higher. However, additional inventory is about to come to market. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values appreciated over the last few years. Lots of these homes will be coming onto the market For Sale in the near future.
New construction of Single Family homes is projected to continue to increase over the next few years and reach historic levels by 2017, Builders are starting to regain confidence in the Housing Market. New construction Home Sales have outpaced last year’s numbers every month so far this year. Mostly due to the lack of inventory of existing homes For Sale in most markets.
3. The Process to Close a Loan is Faster this time of year.
One of the challenges of the Real Estate Market recently has been the amount of time it takes to Close a New Purchase Money Loan. Lenders require more and more paperwork before approving and closing a new mortgage loan.
There are new TRID Mortgage Regulations that became effective this year that could cause closing times to lengthen.
4. This a Great Time to Move-Up!
If you are moving up to a Bigger, more costly home, now is the time to make your move. Prices are projected to continue appreciating over 18% through to 2019.
If you are moving to a more expensive home, it will cost more in real dollars for both the down payment and Monthly Mortgage in the future. You can lock in your 30 year Mortgage cost with an interest rate near 4% right now. Rates could increase by as much as a full point higher during the next 12 months.
5. Time to Make a Change! What is the reason you decided to sell in the first place?.
What is more important? Money or Family? Money is not more important than your health. Money is not more important than the freedom than moving on with your life. You can to take back control of the situation by putting your home on the market now. Maybe the time has come for you and your family to move on and start living the life you really want.