Team Taylor REMAX October 2019

OCTOBER 2019

205.979.8500 | WWW.MYNEWBIRMINGHAMHOME.COM

Why This Fall Is a Great Time to Sell TOP REASONS TO SELL

The Best Time to Upgrade If you’re looking to move into a luxury or premium home, there has never been a better time. While housing is scarce for many markets, the premium home market is healthy. This opportunity makes moving into your dream house from your starter or trade-up home much more accessible. According to CoreLogic, prices are estimated to increase by 5.2% within the next year. If you wait to jump on your dream home, it may cost more for your down payment and mortgage.

Freddie Mac, Fannie Mae, and the Mortgage Bankers Association each expect single-family home sales to increase between $80,000 to $100,000 in 2019 and 2020. Any one person can tell you it’s the best time to sell your home, sure, but it’s a whole different ball game when three separate entities predict sales to increase considerably within one year. Regardless of the expected rise in home sales, here are five key reasons why this fall is the best time to sell. High Demand Recent reports from the National Association of Realtors reveal that consumer demand is strong throughout most of the United States. Demand is high, and the sheer number of qualified buyers is also unprecedented. These buyers are willing to purchase within asking price, can pay a down payment, and are more than ready to do so. Inmany cases across the country, multiple buyers are competing for the same homes as well. If you take advantage of the current buyer saturation, you can earn a profit this fall. Seller Scarcity The current market is under the six-month supply that is needed. What this shows us is that for most of the country, there still aren’t enough sellers to satisfy the growing demand. In years past, a homeowner would stay around six years in their home before considering flipping or selling the house. Unfortunately, since 2011, that length of time has increased to 9–10 years. Due to the negative-equity situation of the last few years, homeowners have withheld their desire to move. With more higher-priced houses coming up on the market, this is all changing. The choices available to buyers will inevitably increase. Don’t wait to sell your home; act soon while this scarcity is still at play. “Any one person can tell you it’s the best time to sell your home, sure, but it’s a whole different ball game when three separate entities predict sales to increase [...] within one year.”

Quicker Selling Process Buyers are trying everything they can to stand out in the crowd, which includes preapproved mortgage financing. This makes the selling process streamlined as buyers know what houses are available in their price range. According to Ellie Mae’s latest reports, the time required to close a loan is only 43 days! It’s Time to Move On Think back to the first reason you had to sell and ask yourself if it’s worth waiting. Is the money more important than the great time you could be having in your ideal home? Is the money more important than living your life the way you’ve always wanted? Only you know the answers to these questions. It might be time to move on and live the life your family deserves.

From these stats and the reasons listed, I believe it’s a great time to sell your home. If you have any questions, feel free to reach out for a free estimation.

—Drew Taylor

MYNEWBIRMINGHAMHOME.COM

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