3 Reasons to Sell Your Home NOW in HOT-ATLANTA!

Atlanta Model Homes
Published on March 28, 2018

3 Reasons to Sell Your Home NOW in HOT-ATLANTA!

 

I have a friend in another state who wants to sell their home. And, whether a blessing or a curse, they have the luxury of taking thier time.

In other words, they don’t need to relocate for a new job, not getting a divorce and not in escrow on another home.

So, suffering from “analysis paralysis,” they drag therer feet. And constantly calling me for news on what the market is doing.

They waiting for that perfect time. You know the one—when home prices are the highest they’ll get.

Sound familiar? If so, keep in mind these famous words from a not-so-famous Realtor® in Atlanta (ME):

“Trying to time the real estate market is crazy.”

By the time you learn that home prices have maxed out, it will be too late – they’ll be on the downhill slide.

But, if you insist on trying to time the sale of your home to the optimal time, here’s more advice – this time it comes from just about every Realtor® with a heartbeat:

“Now is the best time to sell your home here in Atlanta!”

Yeah, I cringe when I read that too. But, right now, the advice actually has merit. And, here are 3 reasons why.

The Inventory of Available Homes is Scary-Low

Inventory of homes in Atlanta is LOW.

The biggest drop is in starter homes but move-up homes are also experiencing a dearth of listings.

What does this mean for you as a homeowner thinking of selling? If the inventory remains suppressed as we head into the spring homebuying season, and demand remains high, you’ll be very happy with your home’s current market value.

Home Prices are High

“Listing prices have once again begun their seasonal climb and have quickly reclaimed historical highs,” claims a new report from realtor.com®.

The data also suggests that homes are selling nearly 10 percent quicker than they did last year at this time, despite the price appreciation.

The shrinking inventory is expected to continue to drive up prices throughout the spring homebuying season.

Consider this: list your home soon and you’ll be in the driver’s seat, not only because you’ll get more for your home now than if you wait, but you will also have the luxury of dictating the terms of the purchase agreement.

Need to wait to close until the purchase of the new home is finalized? You’ll find a buyer willing to accommodate you. If you wait until the market changes to a buyers’ market (which it can do on a dime), you lose this advantage.

Interest Rates WILL go UP

If there is anything that acts as an impetus for homebuyers to speed up the home search it’s news that mortgage rates are set to increase.

A recent study by a large real estate corporation shows that only 6 percent of potential homebuyers will cancel their plans to buy a home if interest rates rise above 5 percent and 21 percent say that the increase would cause them to speed up their plans to purchase.

The more alarming statistic, however, is the 27 percent who say that an increase that high will cause them to slow down their search until rates come back down.

If you need to sell your home, losing more than a quarter of the buyer pool is bad news. The more buyers that drop out on the demand side of the supply/demand equation, the quicker the market will change.

And, if you’re planning on buying another home, a rate hike between now and then could put a real pinch in your budget.

Count on mortgage rates continuing to climb this year. “The 30-year rate has been on a tear in 2018, climbing 48 basis points since the start of the year and increasing for eight consecutive weeks,” according to a statement by Len Kiefer, deputy chief economist at Freddie Mac.

If you are planning on selling your home this year, do it now, before the market turns against you.

As part of my Communtiy Outreach I provide NO Obligation Sellers Consultations, Contac Me!

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