Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? These are all valid questions. However, if you’re considering selling in Seattle or on the Eastside, here are 3 reasons to sell your home sooner rather than later.
1. Demand is about to skyrocket
Most people realize that the Seattle housing market is hottest from April through July. When the sun comes out, so do the buyers. Many buyers are now trying to purchase a home before interest rates rise, creating a surge of buyer demand.
2. There Is Less Competition - For Now
Housing supply always grows from the spring through the early summer. Also, there has been a growing desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners have seen a return to positive equity as Seattle and Eastside home prices increased over the last 18 months. Many of these homes will be coming to the market in the near future.
The choices buyers have will continue to increase over the next few months. Don’t wait until all the other potential sellers in your market put their homes up for sale.
3. There Will Never Be a Better Time to Move-Up
If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by approximately 6% this year and 8% by the end of 2015. If you are moving to a higher priced home, it will cost you more in raw dollars if you wait. You can also lock-in your 30 year housing expense with an interest rate at about 4.5% right now. Freddie Mac projects rates to be 5.1% by this time next year and 5.7% by the fourth quarter of 2015.
Moving up to a new home will be less expensive this spring than later this year or next year.
Authored by David Monroe, Realtor®, Master Certified Negotiation Expert®
Phone: (425) 312-3111
Copyright (c) 2014 by The David Monroe Team at Keller Williams Realty.