It is no secret that we are in a strong “Sellers’ Market.” This Winter may be the best time to sell if you are looking to move.
Win When You Sell
Here are some of the favorable conditions currently for homeowners looking to make a change.
- Making Your House Stand Out – The Winter Months have traditionally had lower inventory than the warmer months in many country areas. Listing your home for sale now means that the supply of homes is less, and the demand has remained strong.
- You Will Likely Get Multiple Offers for Your Home – Economics 101 is about supply and demand. When you have limited supply and high demand, not only are you likely to get a higher price for your home, you are likely to get multiple offers on your home.
- Fast Sale – As a seller, take heart if you’re looking for a quick process. The National Association of Realtors reports that the average closing takes 18 days.
Win When You Move
Here are the perks of buying now
- Home Equity – According to Core Logic, homeowners equity in the past year was an average of $51,500. This wealth boost is the result of buyer competition driving home prices up.
- Leverage – It is widely anticipated that mortgage rates will rise in the coming year. You can use the equity in your current home to fuel that move before home prices and mortgage rates go up. By locking in a mortgage at a lower rate, you will get more houses for your money and more down payments.
As a homeowner, you may have a great win-win opportunity this Winter. Talk to a real estate professional to see what makes the most sense for you.