If you own a home and have been thinking about selling, you will want to read this!
Perhaps 2018 was not your year to sell or purchase, however, here are a few reasons why buying and selling in 2019 could be more beneficial than you think according to US News…
Eager homebuyers have been frustrated over the last few years, experiencing low inventory in most major markets, which is pushing them to start home shopping earlier in the year to try to beat out the competition and ensure they’re not missing out on any available properties. If you are considering selling your home, you have less competition when the inventory is low.
According to US News, The best time to sell your home is traditionally between March and June… however, Michigans cold weather isn’t keeping interested buyers from starting their home search at the start of the year. We have had mild weather, virtually no snowfall in this area, and the fact that buyers take the day after a major holiday to start looking for a new home means the traditional selling season could be even hotter. Use your time wisely and strategize with your REALTOR to make smart Real Estate decisions this year.
While the last couple years have proven beneficial for sellers, seeing many homes sell for asking price or above, it won’t last forever. It is predicted by many industry leaders that it is home builders will begin looking to construct more entry-level homes to meet demand later this year. If you wait too long to put your home on the market, you may find yourself competing with new builds that haven’t been a part of the market in large numbers since before the recession.
Interest rates are low … for now. For both the buyer of your home and your own next home purchase, low-interest rates can help make a transaction possible.
While mortgage rates aren’t expected to spike significantly this year, they are forecast to increase overall. The Mortgage Bankers Association predicts 30-year fixed-rate mortgages will rise to 5% this year and 5.3 percent in 2020.
While increasing interest rates are a sign of a good economy, buyers are out looking early and want to move sooner rather than later. Call us TODAY if you are thinking of selling your home, now may be the time to do so before more competition comes this spring!
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