As the temperature rises, buyers are coming out ready to purchase their dream homes in Hampton Roads. The summer is a great time to list your home for sale with Abrams Realty. Here are five reasons why:
1. Demand Is Strong
The latestBuyer Traffic Reportfrom theNational Association of Realtors (NAR)shows thatbuyer demandremains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
According toNAR’slatestExisting Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.
This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.
There is apent-up desirefor many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return topositive equityas real estate values have increased over the last two years. Many of these homes will be coming to the market this summer.
Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017.
The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.
3. The Process Will Be Quicker
Fannie Mae just announced that they anticipate an acceleration in home sales that will surpass 2007's pace by late summer. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler.
4. 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 5.3% over the next year,accordingtoCoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to increase by nearly a full percentage point in the next 12 months.
5. It’s Time to Move On with Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market in Hampton Roads with Abrams Realty. Perhaps the time has come for you and your family to move on and start living the life you desire.
The results of the latest Rent vs. Buy Report from Trul
""Liz and Abrams Realty are the absolute best to work with! If your looking for realty services, look no further. I have had great experiences with them on both the buying and selling side of a home. Liz and her team of agents have everything covered from start to finish. Abrams Realty takes the hassle out of home buying and selling. When listing your home, they get it sold fast! The most impressive part about their excellent service is that they treat you like family! They make sure your best interests are looked out for and are there to support you throughout the entire process. Abrams Realty is the best if you are looking for a great real estate agent!""