4 Reasons To Sell Your Home In 2017
By Kurt Real Estate Nov 23, 2019
If you’ve been questioning selling your home, it might just be time to commit. We’ve been talking about it a lot…and so has everyone else. You may have read our previous blogs about Millennials looking to buy in 2017, sellers hoping to sell in 2017, and a lot of talk about the market. Now we’re here to tell you, it’s time to stop waiting.
2017 is shaping up to be a great year to sell and here’s why…
1. Low mortgage rates.Historically, mortgage rates have been much higher than what we’re currently seeing. Yes, the election did have an effect and, yes, they have risen since the end of 2016, but in comparison to rates upwards of 10 percent in the 80s and 90s, they’re now considerably low. While it is expected that they’ll hold right around 4 percent, there is also the chance that they could raise by the end of the year, motivating buyers to act now.
2. Less inventory.It is the basic rule of supply and demand. The greater the supply, the lower the cost, the greater the demand, the higher the cost. Everyone wants to sell in a seller’s market. This is when you hear of bidding wars and sales over asking price. While this is not always the case, buyers are more motivated to move quickly when they find a house they like. Having less inventory to choose from makes available inventory much more valuable.
3. Rising home prices.According to CoreLogic, the median home price in Orange County in 2016 was $657,500, up $29,000 or 4.6 percent from 2015. Home prices have finally recovered from the recession and they are still on the up, making it a very desirable year to sell.
4. Stronger job markets. We’re seeing unemployment decrease, wages increase and, overall, a positive trend in the job market. With more stability and financial strength, buyers are primed to invest in real estate. As we discussed in our previous blog, 3 Tips to Help Millennials Become Homeowners, 2017 is looking to be the year to buy for many first time homeowners. Take advantage of the market while it’s hot and, if you’re sitting on the fence, now’s the time to jump off!
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