The Time To Sell Is NOW!
January 17, 2012
Two weeks into 2012 and the real estate market is moving! Historically, January and February are excellent months for real estate activity. Buyers have decided it is time to purchase a home. With interest rates lower than they have been for more than fifty years and FHA loans with only a 3.5% down payment requirement, the Gen Xers are out in full force. Unfortunately, there is no "glut" of homes on the market in our area. Our "for sale" inventory is low and buyers do not have much of a selection. They wait hungrily for new listings to appear and all of a sudden, agents are seeing multiple offers on those new listings. WOW!!!
On the other side of a real estate market, namely the sellers' side, sellers are still holding back. Some because they are still upside down, owing more than a possible selling price. Some because of a hope that if they wait a bit longer, the price of homes will go back up.
Homeowners who have been considering putting their homes up for sale this year should do it now. Why? Because there is a plentiful supply of prospective buyers with lender pre approval letters in hand. Another possible reason is that the news media keeps telling us that lenders will be putting "glut" of foreclosed properties on the market by mid year. Of course, we have been told this for the past several years, but right now, the low inventory is definitely advantageous if you want to sell.
Two weeks into 2012 and the real estate market is moving! Historically, January and February are excellent months for real estate activity. Buyers have decided it is time to purchase a home. With interest rates lower than they have been for more than fifty years and FHA loans with only a 3.5% down payment requirement, the Gen Xers are out in full force. Unfortunately, there is no "glut" of homes on the market in our area. Our "for sale" inventory is low and buyers do not have much of a selection. They wait hungrily for new listings to appear and all of a sudden, agents are seeing multiple offers on those new listings. WOW!!!
On the other side of a real estate market, namely the sellers' side, sellers are still holding back. Some because they are still upside down, owing more than a possible selling price. Some because of a hope that if they wait a bit longer, the price of homes will go back up.
Homeowners who have been considering putting their homes up for sale this year should do it now. Why? Because there is a plentiful supply of prospective buyers with lender pre approval letters in hand. Another possible reason is that the news media keeps telling us that lenders will be putting "glut" of foreclosed properties on the market by mid year. Of course, we have been told this for the past several years, but right now, the low inventory is definitely advantageous if you want to sell.
posted by shirley harry at 8:51 AM
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