Sellers who have hesitated about listing their homes might want to consider selling their homes this spring. Why? Consider where interest rates are going. Is demand about to skyrocket as reported by Keeping Current Matters? Finally, if for no other reason sellers, who have been sitting on the fence, might want to consider their completion.
Interest Rates
When the Great Recession hit, we saw interest rates at historic lows – we will not likely see interest rates this low again. Freddie Mac expects interest rates to be at 5.1% by spring of next year. As we move into the fourth quarter of 2015, Freddie Mac expects interest rates to increase to 5.7%. What does this mean to sellers who plan to move up or downsize? With prices and interest rates increasing, mortgage costs will increase as well.
Find out what's happening in Laguna Niguel-Dana Pointfor free with the latest updates from Patch.
How is the Competition
Homeowners have seen a return to positive equity as prices increased over the last eighteen months. Many of these homes will be coming to the market in the near future. Keeping Current Matters
Find out what's happening in Laguna Niguel-Dana Pointfor free with the latest updates from Patch.
Sellers who are waiting to place their home on the market need to listen to this advice. More homes on the market mean more competition. As we continue in a seller’s market, it makes more sense for sellers to place their homes on the market.
Demand
Motivated buyers know that the housing market is strongest from April through June. They want to beat out the completion as well, therefore, buyers who mean business are looking to purchase in the spring.
Add the low interest rates and lower prices into the equation, and buyers who want an edge will be starting to look at homes this spring.
Let’s Talk
Contact Wathen Realty Group. We know the Orange County market and can give you even more reasons to place your home on the market now.
