Early bird gets the worm, or in our case the best choice of buyers.
With as cold as this week has been, it’s hard to imagine warmer days ahead but believe it or not but we are already experiencing the beginning of the spring rush. If you are looking to sell in the next couple months, we suggest you do not wait and instead seize the current window of opportunity. Here’s why:
- Interest rates are still historically low (just around 4%) so there are lots of buyers who are looking to purchase now. Plus, if you sell your home now to upgrade to a new one, you will also benefit from a better interest rate.
- Inventory is minimal and demand is high. Because choices are slim, buyers are going to great lengths to win the house that they want. However, don’t expect these conditions to last all year, realtor.com predicts that inventory levels are expected to increase in the fourth quarter.
- Home prices are still increasing but not as much as we have seen in the past two years. If you sell in 2018, you stand to make a healthy profit and less competition helps secure this.
- Consumer confidence is booming and unemployment is low. The market is healthy and recent legislation nearly doubled the standard tax deduction which means people have more money in their pockets. All important factors in the overall housing market.
- Millennials and younger generations are ready to buy. The pool of buyers is growing and more young people are looking to move up from their current rentals. In fact, realtor.com says that Millennials could account for 43% of new mortgages in 2018.
It’s exciting to see such wonderful activity in the market and so much prosperity and progress in our city. We are here to answer your questions and even provide a complimentary analysis on the current market value of your home- just contact us to get started.