1. There Is Less Competition Now
Housing supply just dropped to 5.1 months, which is under the 6 months’ supply that is needed for a normal housing market. This means that, in many areas, 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 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.
2. 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.
3. 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 23.5% from now to 2019. 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.
4. 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.
About Amy Dginguerian
Most people know Amy Dginguerian from her time in front of the camera as an actress, model and host, or behind the lens as a Producer in Hollywood. Amy built her Hollywood career with a simple strategy; be professional, be persistent, be courteous and be honest. Her hard work and determination took her from starring roles on TV and Film, to gracing the covers and inside of hundreds of magazines to Campaigns for some of the biggest companies in the world. She is also a 2-time Billboard Recording artist and also an Author.
But what most people don’t know about Amy Dginguerian is that she has always had a great appreciation and knack as a businesswoman. She started a modeling agency in one of the most competitive Cities in the world, (Hollywood) successfully represented over 400 models and talent. She kept her business thriving while traveling the world as a “WWE Diva.” Amy also took her love of business while she was garnering success as an actress and model and parlayed it into something that she truly loved- homes. Amy’s passion for homes and home ownership was realized after she bought her first investment property. She was fortunate enough to understand the real estate market and make smart investments that truly paid off. While most of her peers were struggling to make rent, Amy felt blessed to own a multitude of money making properties.
Amy became a Mom for the first time to miracle twins in May of 2009. Becoming a mother helped stir the fire of appreciation she has always had for home ownership and Real estate investments and so she decided to become a Licensed Sales Agent. She is also the Co-founder of JustSold.com.
Designations and Certificates:
• Senior Real Estate Specialist (SRES)
• Creating Value for Your Clients
• Video Marketing
• Managing Your Online Presence
• Putting Technology to Work for your Clients
• Client Negotiations
• Navigating the Social Media Maze
