Top Reasons to Sell Your Home in 2018
Many sellers ask “Is it a good time to sell?” and “Do you think the market will come up more?” Both are great questions with similar answers. Just over 12 years ago the market was booming and shortly thereafter it wasn’t. We saw one of the largest crashes since the 1920s. Now we are seeing a nice up rise in pricing, yet will in continue? Here are the top reasons to sell your home in 2018.
1. Rates are still historically low giving buyers more buying power
Rates have already started to slowly increase yet are still low where buyers are still able to purchase a property with great interest rates. Historically, the average for interest rates are 7% and we are still hanging in the low 4% area for now. We knew the time would come where interest rates had to increase, and now is the time. No one knows exactly when things will settle yet as interest rates rise, buyers will start to slow down in their purchasing. So while interest rates are low, now is the perfect time to sell, as well as buy.
2. Inventory is low and demand is high
What does this mean? There are more buyers than there are homes to purchase. One of the many great reasons to sell your home NOW! We are in an advantageous market for sellers and constantly seeing bidding wars going on when the seller price their home right with the market, which in turn pushes prices up. This applies whether you are looking to buy Real Estate in Miami or on the Treasure Coast!
The downside is inventory levels are expected to rise towards the end of the year, due to some factors including interest rates going up. So if you're thinking of selling, consider selling now so you don’t miss the boat on a nice cash out in the equity of your home.
3. Home prices are still increasing
Not too much to explain here other than, now is the time to sell. It is predicted that the state of Florida will increase by only 2% this year which slowed down from 2017 at almost 7%. Seeing this type of decrease let’s you know only one thing….a shift is on the horizon so don’t miss out on your opportunity to make some money. If you wait, you may not see the sunset.