If you want your house to sell fast, you need to work with a professional. Stovall Team understands the current market trends and how to build a strategy around those factors, so your house is set up to sell quickly.
You want your house to sell fast. And you may be wondering how long the whole process is going to take. One way to get your answer? Work with Stovall Team. We have the expertise to tell you how quickly homes are selling in your area and what’s impacting timelines for other sellers. That way you have realistic expectations and we will work together to come up with a plan that’s based on today’s market.
Here’s a high-level overview of just one of the factors a great agent will walk you through – the supply of homes for sale and how that impacts your process. Over the past few months, the number of homes for sale has increased slightly. This is good news when you move because it means you’ll have more options as you search for your next home. But it also means buyers have more to choose from, so if your house doesn’t stand out – it may take a bit longer to sell. Available inventory is made up of new listings (homes that were just put up for sale) and active listings (homes that were already on the market but haven’t sold yet).
How It’s Impacting Listings Today
Think of the homes on the market like loaves of bread for sale in a bakery. When a fresh batch of bread is put out, everyone wants the newest and hottest one. But if a loaf sits there too long, it starts to get stale, and fewer people want to buy it.
The same goes for homes. New listings are the freshest and most sought-after. But if a home isn’t priced correctly, doesn’t show well, or it doesn’t have an effective sales or marketing strategy behind it, it can sit on the market and become less appealing to buyers over time.
Stovall Team Will Help Your House Stand Out and Sell Quickly
Timing is important to you. You want to get this done, fast. By leaning on the experience of Stovall Team we will make sure your listing is fresh and doesn’t stick around long enough to go stale. As the National Association of Realtors (NAR) explains: “Home sellers without an agent are nearly twice as likely to say they didn’t accept an offer for at least three months; 53% of sellers who used an agent say they accepted an offer within a month of listing their home.”
Stovall Team will factor the recent inventory growth into our plan and create a customized selling strategy for your house. The supply of homes for sale can vary a lot by area. So they’ll do things like share their valuable insights into what’s happening with supply in your market, help you price your home correctly, and create a marketing plan that gets your home noticed.
Don’t let your listing get stale—reach out to Stovall Team today to make sure your listing is fresh and appeals to buyers from the start. It will make all of the difference.
What Mortgage Rates Are You Waiting For?
You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac (see graph below):
And if you’re thinking about buying a home, that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect.
Expert Projections for Mortgage Rates
Experts say the overall downward trend should continue as long as inflation and the economy keeps cooling. But as new reports come out on those key indicators, there’s going to be some volatility here and there.
What you need to remember is it’s not wise to let those blips distract you from the larger trend. Rates are still down roughly a full percentage point from the recent peak compared to May.
And the general consensus is that rates in the low 6s are possible in the months ahead, it just depends on what happens with the economy and what the Federal Reserve decides to do moving forward.
Most experts are already starting to revise their 2024 mortgage rate forecasts to be more optimistic that lower rates are ahead. For example, Realtor.com says:
Know Your Number for Mortgage Rates
So, what does this mean for you and your plans to move? If you’ve been holding out and waiting for rates to come down, know that it’s already happening. You just have to decide, based on the expert projections and your own budget, when you’ll be willing to jump back in. As Sam Khater, Chief Economist at Freddie Mac, says:
As a next step, ask yourself this: what number do I want to see rates hit before I’m ready to move?
Maybe it’s 6.25%. Maybe it’s 6.0%. Or maybe it’s once they hit 5.99%. The exact percentage where you feel comfortable kicking off your search again is personal. Once you have that number in mind, you don’t need to follow rates yourself and wait for it to become a reality.
Instead, connect with Stovall Team. We will help you stay up to date on what’s happening and have a conversation about when to make your move. And once rates hit your target, they’ll be the first to let you know.
Bottom Line
If you’ve put your moving plans on hold because of higher mortgage rates, think about the number you want to see rates hit that would make you re-enter the market.
Once you have that number in mind, let’s connect so you have someone on your side to let you know when we get there.