5 Reasons to Sell Your House This Summer

5 Reasons to Sell Your House This Summer | MyKCM

Here are 5 compelling reasons listing your home for sale this summer makes sense.

1. Demand Is Strong

The latest Buyer Traffic Index  from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.

Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners are granted the freedom to move.

Many homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you to decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Buyers know exactly what they can afford before home shopping. This makes the entire selling process much faster and simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 43 days. (Last numbers available.)

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has created a buyer’s market. This means that if you are planning on selling a starter or trade-up home, it will sell quickly, AND you’ll be able to find a premium home to call your own!

According to CoreLogic, prices are projected to appreciate by 4.8% over the next year. 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.

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 having the freedom to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to start living the life you desire.

That is what is truly important.

Thinking of selling? Call/text us at 703-242-3975!

Visit http://www.northernvirginiahousevalues.com for your FREE home valuation.

Financial Markets Are Rumbling – Should I Sell Now or Later?

Credit: KCM
Credit: KCM

As summer comes to an end, children go back to school, and the days start getting shorter – we often get calls from folks who are thinking of selling in the Spring asking us to stop by to consult with them about what does and does not need doing between now and then.

Well – in light of the current upheaval in the financial markets, our phones are ringing a little more frequently than normal. And we are happy that our clients consider us to be part of their “financial health team”.

We have set up consultations this week to discuss our clients’ short and long term plans and where real estate fits into those plans. We have advised several to stay where they are because their plans are not likely to be influenced by a normal real estate cycle. We have also advised some to move up their timetable. If you would benefit from this type of consultation, ring us at (703) 242-3975 and we’ll set up a time to visit.

Here’s what CEO Terry Belt had to say last week when a past client in Vienna inquired about meeting over Thanksgiving in anticipation of selling next Spring:

CEO The Belt Team“To the extent that your plans for selling are certain, I recommend you go on the market before Spring – some time in late January or February.  Homes sell faster and for more in recent years at that time because of less competition.  I am particularly concerned about next Spring and Summer as I believe we are topped out in the current cycle and we are at the very beginning of a shift.  The inventory in Vienna has almost doubled in the past 6 months, price appreciation has flattened, the contract price to list price ratio has deceased, days on market to sell has lengthened, and buyer/showing activity levels have decreased. The current market is still what I consider very healthy, but I do see changes coming and if interest rates nudge up and the stock market adjusts, I think the trends we are seeing here will not favor Sellers. Interestingly, Gary Keller, the chairman of our company, went on record yesterday predicting a national shift in the market that we will start to feel in the next 6-8 months and a full downturn within 2 years.  He has predicted the last 3 housing cycles in advance very accurately.”

If you would like to speak to one of our Senior Listing Specialists about today’s market – call (703) 242-3975. We are happy to leverage the wisdom and experience we have gained in the previous downturns to YOUR benefit.

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What Does Summer Mean For Northern VA Home Sales?

Summer Real Estate Market

Memorial Day Weekend is the unofficial start of the “summer season”. And while most people think Spring is the best time to sell your home, we think summer is a great time also. In previous years, the standard time to get from ratifying a contract on a home to the actual settlement & moving in day was about 60-90 days. As technology has advanced, timeframes have become much shorter and the norm now is about 30 days.

What that means is the summer market has been extended. Home buyers with children in school – whether elementary school or college – often try to time their home purchases so they will be settled in their new home by the time school starts. When it took 60-90 days to get to settlement, that meant they had to be under contract by May or June. Now that loans can be processed quicker and timeframes in general are much faster, that means families can purchase a home in July – even in August – and still move in by the time school starts.

Summer Real Estate Market in Northern VA

The result has been that summer is still a popular time to buy a home. Sales during the summer will still fluctuate due to holidays and due to sports schedules & vacations, but with inventory as low as it is today, we believe buyers & sellers will still be very actively participating in the market.

If you’re thinking of buying or selling a home this summer, give The Belt Team a call (703-242-3975) to discuss the best strategy for YOUR particular situation.

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