4 Reasons To Sell Your House This Summer
The Amy Jones Group
Summer is about cooling off at the pool, BBQ's and fireworks. We love summer time! Summer is also a big time for families to make a move. Check out the 4 reasons to sell your house this summer below.
1. Lower Interest Rates
Time to celebrate!! And get pre-qualified...
Interest rates dropped from a high of 4.94% in November 2018 to 3.82% as of June 2019. They are the lowest they have been since last year! Take advantage of the lower interest rates through the summer.
Here are more tips if you are thinking of waiting:
- The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices & interest rates were to increase over a period of time.
- Freddie Mac forecasts interest rates to rise to 4.5% by the Q4 2020.
- CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months.
- If you are ready and willing to buy your dream home, find out if you are able to!
Contact Amber Kovarik with Guild Mortgage or Dan White with Fairway Independent Mortgage for more information on pre-qualification and interest rates today:
2. High Demand
Buyers are ready, willing, and able to purchase and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.
Take advantage of the buyer activity currently in the market. Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.
Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to negative equity. As home values continue to appreciate, more and more homeowners are granted the freedom to move.
Head to our website or contact us directly for more information on Home Searches and the type of inventory that's out there:
3. The Process Moves Quicker
With high demand and Buyers on the move ready to make offers on your home, we're seeing shorter escrow periods. Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Buyers know exactly what they can afford before home shopping. This makes the entire selling process much faster and simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 43 days.
Check out the report here:
4. It's The Best Time To Move Up
If your next move will be into a premium or luxury home, now is the time to move up! According to CoreLogic, prices are projected to appreciate by 4.8% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
Review the reasons that you decided to sell your home to begin with and decide with your family if this is the right time or not. What are your family's goals? Is your family growing? What benefits will you have by upgrading?
Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to start living the life you desire.
Review the data here: