If you’re thinking of selling your home, you should take advantage of today’s housing market conditions while they last. www.sunbeltus.com WHY NOW IS A GREAT TIME TO SELL YOUR HOME Today, home sellers enter a market vastly different from the market a few years ago. The market rebounded faster than anyone predicted. Home prices skyrocketed, and demand grew steadily as economic conditions improved as well. After years of weathering the worst of the housing market crisis, many homeowners are wondering, “Should I sell now?” “ If you’ve been waiting to sell your home, now may be the perfect time. Let’s take a closer look at the reasons why. 1) Home prices are up significantly For many people, the price they can ask for their homes is the driving factor when deciding whether or not to sell. This is especially true following the crash of the housing market, when millions of homeowners lost significant equity in their homes. The recovery of the housing market, however, has provided homeowners with excellent news on this front. From 2012 to 2013, home prices rose by 11.3 percent and continued to rise steadily through 2014. Each month, housing prices showed a marked increase over the previous year. Thanks to the sharp increase in prices, millions of these homeowners regained equity in 2013 and 2014, freeing many homeowners to finally sell their homes. Looking forward, Freed Mac estimates the growth in housing prices to continue to normalize, eventually settling to a 1% growth rate by the end of 20152. With housing prices already up and expected to slow to normal rates, now is a perfect time reevaluate how much your home is worth. © 2014 Sunbelt Sales & Development Corp. All Rights Reserved. The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law norgives legal advice. It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner. WHY NOW IS A GREAT TIME TO SELL YOUR HOME 2. Demand is high Today, the demand for homes is high. With many homeowners sidelined from buying a home due to negative economic and housing markets, demand has been pent-up. As both the economy and housing market continue to improve, even more buyers are expected to enter the market. In fact, 2013 saw the highest number of existing home sales since 2006, according to the National Association of Realtor’s Existing Home Sales Report. The sales pace in 2014 remained high as demand held high3. What’s more, foot traffic, or the number of people actually out touring homes, is also up! Today, you can sell your home while demand is high and buyers are easy to find. 3. Supply is Increasing During the recover, the number of buyers entering the market outpaced the number of homes being listed. The imbalance in supply and demand had buyer’s entering bidding wars over the available properties. Of course, this was great news for sellers as they were often able to get more than asking price for their homes! Today, the market is more balanced. Generally, a six-month supply of homes (meaning it would take six months to sell at the current sales pace), represents a balanced housing market. As of June 2014, there was a 5.5-month supply, so still slightly in favor of sellers. However, the housing inventory continues to rise. New home construction, which fell to historic lows during the housing market crisis, has started again, with new home starts expected to increase by 26% in 20155. As more homeowners find themselves in positions to sell, more existing homes are being listed as well. If you’re thinking of selling, you should act while the market still favors sellers. © 2014 Sunbelt Sales & Development Corp. All Rights Reserved. The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law norgives legal advice. It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner. WHY NOW IS A GREAT TIME TO SELL YOUR HOME 4. It’s Getting More Expensive to Buy a Home If you are thinking of selling your home to move into a different home, the market is also in your favor as a buyer. Home prices continue to rise, and are projected to grow a total of 19.5% by 2018, according to Zillow Real Estate Research. The longer you wait, the more you’ll pay for your new home. You’ll also pay more for your mortgage. The cost of a 30-year fixed rate mortgage plummeted to record lows during the housing market crisis. Recently, however, mortgage rates are trending upwards. As of October 2014, the average rate of a 30-year fixed rate mortgage was 4.19%, a low rate when looked at historically. However, rates are predicted to reach more than 5% by the end of the year. If you’re thinking of selling, act now to lock in the best price for your future home. If you’re thinking of selling your home, I can help! Right now market conditions favor those thinking of selling their homes. If you’ve been sidelined due to the poor housing market, take advantage of today’s market: home prices are up, demand is high, and purchasing a new home remains affordable! As a Certified Distressed Property Expert (CDPE), I am committed to helping the homeowners in our area understand the new housing market. No matter what your situation is or has been, I can help you explore all the options available to you in today’s market. © 2014 Sunbelt Sales & Development Corp. All Rights Reserved. The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law norgives legal advice. It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner. WHY NOW IS A GREAT TIME TO SELL YOUR HOME Do you know what your home is worth today? Take a second in this frantic time of year to give yourself a present, and reassess your current housing situation if you haven’t done so recently. The housing market has recovered faster and more significantly than anyone predicted, so chances are your situation is much different than it was a year or two ago. In 2013, 3.5 million underwater homeowners regained equity in their homes. In 2014, millions more joined them.3 Do yourself a favor and see where you stand! No matter your situation, I can help you explore all the options available to you in today’s market. Contact me today for a free valuation of your home and let me help you determine your best option! Juan Carlos Garcia 914-262-1340 [email protected] © 2014 Sunbelt Sales & Development Corp. All Rights Reserved. The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law norgives legal advice. It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner.