Don’t Wait For Spring Do It Now!

Five reasons you should list your house now!

Traditionally homeowners wait until spring to think about listing their home for sale. If you want to take advantage of the current market situation – here are five reasons why you should list today.

1.) New Construction Is Coming Back

We have seen more investors and builders begin new projects recently. Homeowners in the recent past have not had to compete with new construction in their neighborhood. But as real estate continues to improve these new homes will be competitive and attract new buyers.

2.) Mortgage rates Will Begin to Rise

While mortgage rates have been at an all-time low the Mortgage Bankers Association have indicated that rates will begin to rise at least one full .2 4.4% in 2013. Waiting to list your home, you may find that there are less buyers available to purchase your home. Equally if you are downsizing or moving up your housing expense will be more if you mortgage your next home.

3.) Right Now Demand Is High

The National Association of Realtors [NAR] reports that homes are selling faster than any time in the last five years since 2007. Their most recent existing home sales report shows that there are buyers out there right now ready to buy and that sales increased over 2011 by 9.2%.

4.) Housing Supply Is Low

For the first time since May 2005 the inventory of houses for sale is at its lowest point. Right now the supply is down 21.6% from the same time last year. We will begin to see a dramatic rise in the spring. Take advantage of the high demand and low supply to get the best price for your home.

5.) Processing Time for Home Sales Will Be Shorter

With the hundreds of new mortgage regulations many transactions in the past 12 months were delayed. There was a dramatic increase in the number of transactions which place burden on home inspectors and appraisers to get their jobs done in a timely manner. Right now there are fewer transactions in process and that means the home buying and selling process will be friendlier for those involved over the next 90 days.

As the old commercial ad used to say “Don’t Wait for Spring Do It Now”!

About the author

Sherry Fields Sherry Fields has been working in real estate since 2002. Working with the development team for the Hilton Garden Inn gave her strategic information on the commercial real estate market in Missoula. Broadening her scope she moved into the residential market and earned the designation SFR in short sales and foreclosures. Currently affiliated with Prudential Montana Real Estate, she works with both buyers and sellers "building relationships so you can buy & sell with confidence". Sherry Fields has recently earned the CREN designation - Certified Real Estate Negotiator. While price is a large part of negotiation - it is also about timing everything from the closing date to inspections, appraisals, home insurance - and it is about negotiating items that can show up in home inspections to achieve a mutually acceptable outcome.

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