People across the country are beginning to think about what their life will look like next year. It happens every Fall. We ponder whether we should relocate to a different part of the country to find better year round weather or perhaps move across the state for better job opportunities. Homeowners in this situation must consider whether they should sell their house now or wait. If you are one of these potential sellers, here are five important reasons to do it now versus the dead of winter.

1. Demand is Strong

Foot traffic refers to the number of people out actually physically looking at home right now. The latest foot traffic numbers show that there are more prospective purchasers currently looking at homes than at any other time in the last twelve months which includes the latest spring buyers’ market. These buyers are ready, willing and able to buy…and are in the market right now!

As we get later into the year, many people have other things (weather, holidays, etc.) that distract them from searching for a home. Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing supply is still under the historical number of 6 months’ supply. This means that, in many markets, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future.

Also, new construction of single-family homes is again beginning to increase. A recent study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

One of the biggest challenges of the 2014 housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. Any delay in the process is always prolonged during the winter holiday season. Getting your house sold and closed before those delays begin will lend itself to a smoother transaction.

4. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 19% from now to 2018. 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. You can also lock-in your 30 year housing expense with an interest rate in the low 4’s right now. Rates are projected to be over 5% by this time next year.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire. That is what is truly important.

Until next time,

Darin

Don't list your home for sale with just anybody! Here is a list of simple questions you should ask any Real Estate professional before you sign the papers to list your home for sale.

1. How many homes did you sell last year?

Why this is important - You do not want to hire a Realtor to sell your home, worth hundreds of thousands of your hard earned dollars, who is not experienced. Imagine getting major surgery from a doctor who performs the operation a couple of times per year, pretty scary right? A Realtor selling your home is preforming major financial surgery on you. Pick wisely.

2. What is the percentage of your listings that are selling?

Why this is important - If a Realtor takes 20 listings to market each year yet only sells 3 homes, that effectively means you have a 15% chance of selling your home with that particular Realtor. Not great odds if you are serious about selling.

3. What is your average list to sales price ratio vs the average for your real estate board?

Why this is important - A professional Realtor should not only help you get your home sold yet should also be able to get you top dollar for your home. If every home they sell goes for 5% less than its original list price, you may not get the money you need in the sale.

4. What is your average marketing time vs the MLS average?

Why this is important - Time on market is crutial. Less time selling your home means less annoying showings, strangers in your home, time away from home, cleaning and actually more money in your pocket.

5. Do you have a list of past clients I can call?

Why this is important - Get the real scoop before you sign the papers to list. A long list of happy clients is the first indication of a great Realtor.

6. Do you follow up on all showings and will you give me feedback? If so, how?

Why this is important - One of the biggest issues consumers have with their Realtor is lack of communication. There is nothing worse than having a showing and wondering how it went. Proper feedback can help you determine any potential roadblocks that are keeping your home from getting sold.

7. Do you have a copy of the Realtor Code of Ethics?

Why this is important - If they don't, they should.

8. How much do you spend on education and training each year?

Why this is important - Does your Realtor meet the minimum requirements of education just to keep their real estate liscense? Or do they go above and beyond to more effectively serve the needs of their customers?

9. Are you full time?

Why this is important - Real estate is a complex profession full of legal, ethical and industry challenges that must be kept on top of at all times. The game changes fast in real estate and you owe it to yourself and the sale of your home to have a full time professional handling the sale of your most valuable asset.

POWER THOUGHT

Hire the Realtor who is best qualified to handle the sale of your most valuable asset, your home.

Click here to see how I stack up

Until next time,

Darin