With holidays around the corner and fresh into a new school year, sellers get very weary about putting their house on the market. However, low inventory and high buyer demand still tip the scales heavily in the seller’s favor. It’s never going to be convenient to get your home sale-ready, but here are a few reasons why you shouldn’t pass up the opportunity this Fall:
1. Less Competition – Inventory is still at historic lows. Simply put, there are not enough homes to satisfy the number of buyers looking. A fresh supply of inventory is expected to come to market soon, so it would be wise to put homes on MLS while there are still bidding wars.
2. Meet your terms – This market is urging buyers to please sellers when they write their offers. This means fast closes, rent-back agreements, cash offers, waived contingencies, etc. In a competitive situation, today’s sellers can basically write their own offers
3. Low Rates – Buyers are itching to buy right now because rates are at historic lows. When borrowed money is this cheap, there’s never been a better time to consider that bigger/more expensive house you have always wanted.
4. Appreciation – House prices are expected to be 19% higher by 2018. Now is the time to re-enter the market if you have thought about moving on. It’s at least a good time to start a conversation with a real estate professional to explore options.
Every big decision revolves around timing. None of the above applies to you if you are happy in your living situation. However, if you are ready for a change, need to downsize, or you are just simply bored, this is a great time to start the selling conversation. If you put your house on the market now, you could be cutting the Thanksgiving turkey in your dream house.