If “Why Now is the Perfect Time to List: Part 1” didn’t convince you that now is the right time to sell, we’ve compiled a few more reasons why you should consider putting your home on the market. If you haven’t yet read Part 1, be sure to take a look for four more reasons.
As mentioned in Part 1, the real estate industry is experiencing historically low inventory. For home sellers, this means competition is down, and for home buyers, competition is up. Less competition can impact the sale of your home in a number of ways. For starters, your home will be easier for your real estate agent to market. Right now, it’s easier to get home buyers into open houses, and not uncommon for price increases and bidding wars. With less inventory, your home becomes more attractive to potential buyers.
Because inventory is low and there’s less competition for home sellers, there also are more prospective buyers. This means your home could possibly receive more than one offer. This is a good position for you, the home seller, to be in as it allows you to select which buyer best meets your needs. This could mean more money for your home, or another set of terms worked out during the real estate transaction. Spring and early summer are also popular times of year for home purchases. By putting your home on the market now, you’ll get more exposure to a larger audience.
The prior points also lead into the speed of the home-selling process. With less competition and more buyers, homes are also moving much faster. Buyers are eager to place offers on homes in hopes that they will beat out other prospective home buyers. When you’re ready to sell, don’t be surprised if your home moves fast. Before you place your home on the market, be sure you have a plan for what to do once your home sells.
Home prices in California have been on the rise for several years, and the trend continues. According to data provided by the California Association of REALTORS® home prices are up from 2015. Throughout Southern California, prices have increased–specifically, up 6.1 percent in Los Angeles, 7.7 percent in San Diego, and 4.7 percent in Orange County. This trend will likely continue through 2016 given the low inventory and number of buyers.
Ready to list? Our sales associates are eager to help you sell. Talk to one now about listing your home.