Top 4 Reasons to Sell Your Home Now

1. High Demand:

Foot traffic numbers are showing a significant increase in buyers currently looking at homes. In fact more prospective buyers looking for homes is at a 12 month high, more than last spring as well.  Buyers are actively looking for homes and your home could be the one they want! Don’t let a hot market pass, take advantage of it right now.

2. Less Competition

It’s easy, supply and demand.  Right now there are more current buyers than there were 12 months ago, but there is also low supply.  Housing supply has dipped to an average of 4.7 months of supply, underneath the 6 months needed for a normal housing market.  Obviously this is good for home prices, but expect more homes to come on the market soon.

Homeowners who can and want to sell but couldn’t because of a negative equity situation, will soon be out from underwater and ready to sell as well.  They will soon be able to see a positive return on their investment, listing their home and increasing competition.

There is strong resurgence of new construction in the Olympia, Lacey, Tumwater and all of the Puget Sound area.  A recent survey by Harris Poll showed that 41% of buyers would rather buy a new construction while only 21% prefer a previously owned home.

It all boils down to choices and buyers will be able to have many more very soon, so don’t wait for more competition and potentially lose thousands of dollars or months of waiting.

3. Quicker Process 

Typical real estate contracts take 30-45 days, but lenders are now faced with more regulations than ever,  and the time from mutual acceptance to close will continue be drawn out.  As more homes begin to sell, expect lenders to fall behind on loan processing time, delaying closing.  

4.  The Time is Now to Move Up

If you are thinking of moving up to a bigger, home that costs more, the time to do it is NOW.  Home prices are expected to increase 19.3% between now and 2019.  That is an average of 3.3% per yr. If you are thinking of moving up, and decide to wait, it will cost your more in price and payment.  Interest rates are expected to rise nearly 1% by next spring.

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