Why You Should Sell Your House Now

Timing can be crucial when it comes to making significant financial decisions. If you’ve been contemplating selling your house, it’s time to take that leap. Here’s why:

It’s a Seller’s Market

The biggest reason to sell your house now is it’s a seller’s market. “Inventory is more than 50% lower than normal nationwide,” says Laura McCarthy, Sales Associate at ERA Justin Realty, “There are more buyers than there are available homes.” This means sellers have the advantage of setting higher prices and receiving multiple offers. You could sell high… fast.

Record-Low Mortgage Rates

Yes, they’re higher than they were. But historically speaking mortgage rates are still quite low. “This is not just good news for buyers, it’s actually good news for sellers, too,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “Low interest rates mean buyers can afford to pay more for a house. The higher the price, the more money in your pocket.” By selling now, you have a large pool of qualified buyers who can afford to pay more for your property.

Equity

If you’ve owned your home for a significant period of time, you may have more equity in it than you think. “Equity is how much more money your home is worth now versus how much you paid for it,” says McCarthy, “If you bought your house for $100,000 and it’s now worth $150,000 that $50,000 is your equity.” Selling now will give you the opportunity to cash in on that equity and either reinvest it, or use it in retirement.

What does this mean for you?

“This means the time to act is now,” says Darby Metzger,  “Buyers have fewer choices than they did in normal years, which puts your house in high demand.”

According to the National Association of Realtors (NAR):

• 74% of homes sell within a month of listing
• The average number of days on the market is 18
• Average number of offers on a single house: 3

“When a home goes on the market – and it’s priced right – it sells quickly,” says McCarthy, “We can help you make sure your price is right.”

Bottom Line

Ultimately, the decision to sell is a personal one that depends on factors specific to your circumstances. If you need help deciding if now is the best time for you, Laura McCarthy or any of the knowledgeable agents at ERA Justin Realty can help. Give us a call at 201-939-7500.