Many sellers wait until the spring start which is the ‘buying season’ to list their homes. Here are five reasons why they not make sense now:
1.) The High Demand
Selling homes are on pace which was not seen before 2007. According to the Association of Realtors (NAR) about 9.2% annual sales was increased in 2012. There are buyers right now and they are serious about investing in SC Real Estate.
2.) Low Supply
Since May of 2005 the monthly supply of houses for sale is at its lowest point which is (4.4 months). From the same time last year 21.6% of the current month’s supply is down. Historically, in the spring inventory increases dramatically. It is the right time to start selling when demand is high and supply is low may garner you your best price.
3.) New Construction
Over the last several years, most owners are selling their home without competing with a new construction project around the block. As seen more and more investors are coming back in the market as it is recovering day by day. As the new homes are attractive alternative to many purchasers will again become competition.
4.) Interest Rates of Project
As “Mortgage Bankers Association” projected mortgage interest rate which is approximately inch up one full point in 2013. Whether you are moving down or moving up, your housing expense will be more every year from now on if mortgage is necessary to purchase your next home.
5.) Shorter Timelines
Due to the dynamic increase in transactions caused many challenges in the process of buying or selling a home in the past year. We dealt with last minute appraisals of the market and prayed that the bank didn’t ask for ‘just one more piece of paper’ before issuing commitment on the mortgage. There are fewer transactions in the last year. That means that timetables on each component of the home buying process will be friendlier for those involved in transactions over this year.These are the reasons why you should list your house today instead of tomorrow.