Are you thinking about selling your home in 2017? Are you still on the fence if you’re going to do it or not? Perhaps it’s time you take the leap of faith to go on with the process of putting up your residential property up for sale.
Many real estate experts are now saying that 2017 is THE year of the home seller. If industry experts are already saying that it’s going to be a blissful year for selling your home, then what are you waiting for? Here are some reasons why you should starting putting up your property on the market.
Job Markets are Booming
Now that the rate of unemployment is decreasing while certain companies have their workforce’s salaries on the increase, consumer buying power is now at the top of its game more than ever. Let’s face it – if you have more buying power than before, then you’re going to have an increased confidence as you’ll allow buyers to get in the real estate market. Prospective home buyers will start going online to look for bigger, better places than what they’ve initially planned to get before the increase in their wages took place. Know that when customers are confident about purchasing any product, they won’t hesitate in completing the transaction. But before anything else, consumer research needs to be done. As such, you need to make sure that your residential property can be found online to have a higher chance than the norm for your property to get noticed.
Mortgage Rates are still at an All-Time Low
When you’re searching for homes, one of the most important factors is the price of the property. Now that mortgage rates are low, it helps prospects to search for better-priced properties that may even exceed their budget by just a bit. This scenario is a good thing for sellers because it’ll make your target audience to want to check out your home for sale, at the very least. Know that mortgage rates do move with the economy, and these can go up and down at any given time. By the end of the year, it may even hit 4.6%.
Prices for Homes are on the Rise
Now with low mortgage rates, a low inventory of homes, and a great demand for new properties, these elements have pushed home prices to a new level. According to reports, the average prices of existing homes went up in 2016 from 2015. Hence, home sellers will benefit from the high prices because you can gain a larger ROI as compared to selling a residential property 2 years ago.
Property Inventory is Dwindling
A high demand and low supply will lead to a rise in prices. Now that there’s a clear indication of house inventory shrinking, the value of properties is now going up. With it, the logic will be very simple to understand – home sellers will have a definite advantage because of the few competition.
Perhaps the ultimate takeaway here is that you, as a home seller, won’t get high blood pressure or additional stress when selling your home. You can even get in touch with experts in the real estate industry if you want to sell your home in 2017 and fast.