This is our last blog of August and therefore we're almost at summer's end, as hard to believe as that may be.
There are still four months left in 2015 and therefore if you've been contemplating selling your home, there's still time to take advantage of the fabulous current market conditions.
Here are five great reasons why you should be listing right now: -
Mortgage rates - They're still very low and it's by no means certain that they will start to rise soon, even though many are predicting they could before year end, perhaps sooner than that. This week's helter skelter stock market was broadly good for mortgage rates, as they are likely to fall when investors seek safe havens like mortgage backed securities. The stock market situation appears to have stabilized a little for the moment, with a huge rally today, but who knows what will happen in the near future. For now buyers remain very eager to take advantage of this major incentive to get on the housing ladder or to upgrade. Make sure you're home is among their choices.
Low inventory - Speaking of choices, we devoted a whole blog on Tuesday to the subject of low inventory of available homes for sale in the Albuquerque area. Without repeating ourselves too much, suffice it to say that with less competition in the marketplace, your home will be much more visible at every price point. With the fall and winter now entering into our sights, it's hard to imagine that inventory will be taking a big leap forward for the remainder of this year, so the competition is only likely to decrease further. What an opportunity this represents for you, increasing the likelihood of you achieving list price, or maybe even receiving multiple offers that take you above list!
More people are buying right now - The latest stats from the Greater Albuquerque Association of Realtors (GAAR) demonstrated a 23.09% year on year rise in closed home sales in the area. This is significantly up on the national trend of a 10% increase and the latest great news for a welcome trend that has been gathering pace throughout 2015.
Buyer sentiment - Essentially we've touched on this point in the three reasons we've given so far. But it's worth spending a little more time considering just how motivated buyers are right now. With rental costs steadily increasing, super low rate borrowing and several other big current incentives, including low down payment home loans for qualifying buyers, there seems little or no chance that buyers are going to chance their arms and wait a few months in the hope that this perfect storm of purchasing advantages isn't going to change. If you don't list now then you'll be taking that same gamble.
Not all buyers hibernate - Over the coming months, we'll doubtless be driving home the message that fall and winter still see very lively house sales. Indeed, it's often said that as we move nearer to year end we see some of the most motivated buyers of the entire year. Nonetheless, it's undeniable that there'll most likely be some tapering of activity as the holiday season approaches. Therefore it makes a lot of sense to list at summer's end to give yourself the whole of the fall as a selling window. Traditional patterns may not be so prevalent this year, however, as there are so many reasons why buyers should not be procrastinating until the spring.
Hopefully these compelling reasons will help you to consider the merits of getting listed right now. Call us today to discuss your own situation in more detail.