CONSIDERING SELLING YOUR HOME? THIS SUMMER REAL ESTATE MARKET IS HOT!

We understand that everyone one of us has a unique situation as we tread forward on our own race in life.    Understanding others needs and requirements are paramount to our success as your trusted realtor at Stovall Team. Together we promise that our vision, core  values, and mission statement will align with your own future real estate goals. Regardless of your  situation or future plans, let us  provide the experienced  guidance and expertise in making your real estate plans.  Let’s look at the reason you are  considering selling in the first place and determine whether it is worth waiting. You have the power to take control of the  situation by putting your home on the  market. Perhaps the time has come for you and your family to move on and start living the life you desire.  That is what is truly important. If buying a home is in your plan for this year, doing it sooner rather than later could save you thousands of dollars over the terms of your loan. 

Here are four reasons listing your home for sale this summer makes sense.      

1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy the same home.  Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now Housing inventory has declined year-over-year for the last 35 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However,  additional inventory could be coming to the market soon.  Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. 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. As home values  continue to appreciate, more and more homeowners will be given the freedom to move.  The choices buyers have will continue to  increase. Don’t wait until this other inventory comes to market before you decide to sell.
3. The Process Will Be Quicker Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Working with a well-qualified and experienced lender is paramount.
4. There Will Never Be a Better Time to Move Up If your next move will be into a larger or premium home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own! Prices are projected to appreciate by 5.2% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

The best time to sell  anything is when  demand is high, and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a  luxury home or downsize, now’s the time to list your house for sale and make your dreams come true. Call me today  714.343.9294 and  visit stovallteam.com        

Sources:  Micah Stovall, National Association of Realtors,  CoreLogic