It’s a GREAT Time To Sell Your Home
It is an understatement to say that real estate markets are continuously changing. That declaration holds true for the real estate market in Prescott, Arizona! With all of the changes, the bottom line is, it is a great time to sell your home.
Realtor.com recently posted an article on the Top 5 Reasons to Sell Your Home. Here are a few of the highlights. You can read the full article here.
After reading the article, if you have questions regarding the Prescott Real Estate market and questions on what your home is worth, give Trish Miller with BloomTree Realty a call at (928) 830-2586. Contact Trish here.
According to Javier Vivas, director of economic research for realtor.com®, “We’ve seen two or three years of what could be considered unsustainable levels of price appreciation, as well as an inventory shortage that resulted in a record low number of homes for sale across the country.”
If you plan to sell in 2018—and you want to unload your home quickly and for maximum money—your window of opportunity may be rapidly narrowing. Here’s why you should get moving ASAP.
1. Rates are still historically low, drawing buyers into the market
We may not be enjoying the rock-bottom interest rates of yore, but by historical standards, today’s 30-year mortgage rates—hovering just above 4%—are still low. And experts agree mortgage credit will remain relatively cheap for most of the year.
2. Inventory remains tight—and demand high
Simply put, there are more buyers than available homes—particularly in red-hot markets where land is scarce and it isn’t cheap to build.
3. Home prices are still increasing
From coast to coast, home prices continue to rise—which translates to more money in your pocket when you sell.
4. People have more money in their pocket
Record levels of consumer confidence, low unemployment, and stock market surges are setting the stage for high home buyer turnout in 2018. For the first time since the 1960s, the Fed has projected that the unemployment rate will drop below 4%, and the domestic stock market is enjoying a nearly unprecedented rally.
5. Millennials are ready to commit
Millennials, often crippled by student debt, have been especially hampered by rising interest rates and high home prices.
More home buyers flooding the market can only mean good things for sellers—at all price points. If you are interested in what has sold in your neighborhood, I can supply you with a free Neighborhood Sold Report.