Many home owners are currently waiting until Spring to put their home on the market. Their thinking goes along the lines that everything always looks best when the grass is green and flowers are in bloom. A home will surely be easier to sell if that is the case.
Every year many homeowners wait until Spring to list their home. Here in Gilroy, Spring comes earlier than other areas. With the rains that have greened up our hillsides, now is the time to get your home listed. Here are 5 reasons you should list your home for sale NOW!
Home Inventory at Record Lows
The inventory of homes for sale throughout California have dropped substantially over the last six months. The number of homes for sale in most communities has fallen to lows we have not seen for many years. When home inventory levels drop, home prices tend to rise. This will become even more prevalent in a more desirable neighborhood where buyer competition is normally high. There are more than likely going to be bidding wars on every home listed.
Demand is Up
Contrary to what some people may think there are lots of buyers out in the market place right now looking for a home. Some are first time buyers who are looking for a place to build some equity. There are others who see an opportunity to “move up” in the market as home prices have dropped substantially since the market peak in 2005.
Renting vs. Buying
In this area, the monthly payments on a purchased home are very close to the same as renting when tax benefits are considered. Rents here have steadily increased while home prices have dropped. Home ownership makes complete sense if a down payment can be attained.
Interest Rates Going Up
Interest rates have begun to inch up from their historic lows, and predictions are that they will continue the slow upward movement.
New Construction Coming Back
In Gilroy builders are starting to get back into the fray. When builders are actively building homes it becomes harder for some who are selling their used homes to compete. There are many that will jump at the chance to have a shiny new home with all the bells and whistles customized to their specific needs. When new construction is limited, previously owned homes are all that there is for buyers to consider.
As you can see, if there are no time constraints on your part you should consider moving up your time frame for putting your home up for sale. All the conditions are optimum for sellers to get the most they possibly can from a March sale. As always, Team Patereau would like the opportunity to discuss listing your home. We will help you every step of the way. Contact us today!