The Delicate Balance Between Home Buyers and Home Sellers; or 5 reasons to Buy or
Sell before year end … and if your still thinking about it, consider before Spring
Wen I came across a blog posting on “5 Reasons to Sell before Spring,” I was compelled to encapsulate, edit, expand and educate those who have not acted upon advice I have been preaching to clients since end of 2nd quarter: Year end is the best time to buy, and 2013 year end maybe the best window of opportunity for some time to come. With serious Buyers in the market, home Sellers need to seize the opportunities, as well. Here are 5 reasons:
- SERIOUS BUYERS ARE IN THE MARKET. Fall and Winter are not usually inviting times to drive or walk and visit homes as a Sunday past time. Yes, as good as Spring and Summer are with shear numbers of Buyers and lookers, Fall and Winter (year-end) have a greater percentage of ready to purchase Buyers. With Holiday past times of visiting Malls or preparing for a long winter, Sellers get your listing ready and be prepared to meet your act-now Buyers.
- THERE IS FAR LESS COMPETITION: SUPPLIES ARE SEASONALLY LOW. Those Sellers who wait for the spring are guaranteed to have far greater competition. Consider if you have the best house in the neighborhood, a perfect gem, it may not matter when you put your house on the market. For the 99.9% rest of us, Sellers should consider Buyers have choices, and in the Spring, they have many more.
- THERE WILL NEVER BE A BETTER TIME… TO MOVE-UP OR DOWN (SIZE). In most markets, home values have spiked. Through the first half of 2013, prices have recovered their loses, almost overnight, those suffered since 2007. Home values have held steady and projections are home values will appreciate by more than 25% from now through 2018. Consider further interest rates have remained at historical lows and all indications are there is only one way to go from here… up. Which brings me to the mortgage lenders and getting a “yes” on that loan.
- THE PROCESS WILL BE QUICKER… BUT NOT LESS THOROUGH. There is money to lend and the industry is “healthy” and competitive. Lenders have embraced technology and have streamlined the process. Most qualified lending institutions can get a loan approved within 21 days. If they can’t meet those deadlines, I suggest shopping for a new lender. Lenders are also offering a greater number of lending programs today and expanding the qualified buyer pool such as small business owners and asset based borrowers. Spring and Summer and especially this past first half of 2013, lenders were inundated with both purchase and refinancing loan requests. Both of these have now slowed in the winter facilitating the shorter timelines.
- IT’S TIME TO MOVE ON WITH YOUR LIFE. Examine the reasons you decided to sell in the first place and decide whether it is worth waiting. You have the power to take back control of the selling process by pricing your home at market value to guarantee it sells. Stop chasing the market down and right now, pricing and year-end closings are the Buyer’s triggers.
There are buys to be made right now. Connect and deploy an agent to dig deep and it will happen; a win for all parties to the sale transaction. Much success.