Yesterday’s spring-like weather brought to mind the idea that spring is an ideal time to sell a home. Generally, we equate spring with a rather obvious emergence of green to prevail over white. But there is significant evidence that conditions are ripe for selling now. It is time for a new set of beliefs.
According to Steve Harney, a nationally recognized speaker on Real Estate and leadership, and author of the Keeping Current Matters blog, there are at least five reasons to sell now.
- Interest rates are on the rise – “As rates increase, the mortgage amount a buyer qualifies for decreases,” explains Harney.
- The Home of your dreams may be at its cheapest – Harney points out that, “Cost can be dramatically impacted by rising mortgage interest rates.” Buyers are interested in cost.
- There is evidence that the buying season has begun early this year – Buyers are far better educated and already modifying their approach and creating a new “early spring” trend.
- Inventory increases every spring – Inventory increased by 14% between February and April 2010. “You won’t have to worry about this increasing competition if you sell now,” Harney says.
- As banks rectify their foreclosure practices, new foreclosures will appear on the market over the next few months. “If you are looking to sell in 2011, you want to sell before this inventory becomes your competition.”
Every fluctuation of the market brings about adjustments in strategy, perception and dynamics. For this reason, when it comes to buying or selling a home, it is not possible, nor is it wise, to make decisions based on immutable beliefs. We must continually adapt to changing circumstances.
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