Why Now is the Perfect Time to Sell Your Home – Don’t Wait for Spring!
Thinking about making a move this year? Deciding on the perfect timing to sell your home can be tricky, especially with the common belief that spring is the ideal season for real estate transactions. However, waiting for the flowers to bloom might not be your best strategy. Here’s why selling your home now could be a golden opportunity.
1. Capitalize on Favorable Mortgage Rates
Recent trends in mortgage rates present a compelling reason to sell sooner rather than later. After peaking at 7.79% last October, 30-year fixed mortgage rates have significantly dropped, hitting a recent low in January. This reduction not only frees you from feeling stuck with your current rate but also makes relocating more accessible financially.
The dip in mortgage rates has also reignited buyer interest in the market. Many potential buyers, previously sidelined by high rates, are now eager to purchase, increasing the demand for homes like yours. Freddie Mac’s Chief Economist, Sam Khater, notes the stabilization in rates has encouraged buyers with affordability concerns to re-enter the market, potentially benefiting sellers like you.
2. Stay Ahead of the Competition
The current market dynamics place sellers in a favorable position, with buyer demand outpacing the supply of available homes. However, as more sellers consider listing their homes in springtime, buyers will have more choices and may not want to compete as fiercely for each home. By listing your home now, you can outpace other sellers, ensuring your property gets the attention it deserves. Proper pricing with the help of an experienced real estate agent could lead to a quick sale and even multiple offers, especially in a market craving inventory.
Experts anticipate home prices will continue their upward trajectory this year. If this is your year to make a move, acting now could be strategic, allowing you to sell your current property and purchase your next home before prices climb even higher. This can position you advantageously as a homebuyer, securing your next home at a more favorable price.
4. Utilize Your Home Equity
The equity homeowners have accumulated in recent years is nothing short of impressive. With the average homeowner sitting on over $300,000 in equity, according to CoreLogic, concerns about affordability when moving to your next home may be alleviated. Your home’s equity could substantially cover, if not entirely, the down payment for your next home, making your move easier by alleviating financial stress.
Selling your home and transitioning to another doesn’t have to wait for spring. There are clear benefits to making your move now. If you’re contemplating selling your house, reach out to our team. We’re here to connect you with a trusted real estate agent who can guide you through the selling process, helping you gain a competitive edge in the market. If you need to move prior to selling your home, our team has a perfect program for you! Call/text us at (303) 477-3889 or email us at Team@ColoradoLendingTeam.com for more details.