Last year, sellers sold 5.45 million existing homes in the United States. This year, projections suggest that number will rise to 5.78 million. With a promising outlook for real estate in 2018, home sellers must decide when is the perfect time to sell a home. There is no exact formula for making such a decision, but there are indicators that help point you in the right direction. Here are three primary reasons why now is the perfect time to sell your home.
1. Historically Low Rates
The Federal Reserve recently adjusted the short-term rates between 1.25% and 1.50% which has in the past provided a boost for the real estate market. At 4% to 4.5%, it is still historically low for the housing market which indicates it is a prime time to buy and sell a home. The Federal Reserve also made three hikes in 2017 that will affect the 2018 real estate market in which analysts believe will help rates drop below 4% and then close at the end of 2018 around 4.5%. If you want to sell, this prediction says the time is prime for real estate now before the price rise toward the end of the year.
2. Inventory is tight and in high demand
Home Buyers and sellers have been a bit timid about entering the real estate market amid uncertain political and economic times which is normal any time changes take place. Now that the sales are projected to rise, inventory is in high demand which means that there is an abundance of home buyers that will be lining up to see what your home has to offer.
3. Cash Offers are at an All-Time High
Home Buyers are finding it a much better tactic to pay cash instead of financing for a variety of reasons. After the stock market crash in 2008, buyers began to save longer to minimize the risk of lender-associated risks. Today, cash offers tend to be 25% of the total proposals made which indicates it is considered a means of security rather than a tactic. That said, home sellers often choose a lower cash offer over a higher credit-associated lender price just because of the access to a quicker and safer sale.
How To Prepare Your Home For A Fast Sale
The quickest way to sell your home fast is to find a real estate agent who has home staging knowledge because dwellings sell three to one when someone prepares it for buyers based on personal needs. A home staging professional takes the time to clean, declutter, and stage each room by coordinating colors and décor that maximizes a room’s prominent features. From a painted front door to a room’s ability to retain the natural light, every single element counts when it comes to creating an aesthetically pleasing environment for home buyers.
Spring Is The Best Time To Buy a Home!
Families made up 62% of last year’s real estate market. Because of the consideration for children, spring becomes a significant factor in their buying cycle because it leaves plenty of time to plan for relocation. The springtime enables home buyers the time to analyze the home, the neighborhood, and find the best school districts. The spring is an excellent time to show potential home buyers what the community has to offer which will be a buying bonus for families.