Cashing Out This Fall
Real estate markets are often perceived as hot and very active during the summer and spring. People looking to buy typically prefer moving when the weather is agreeable and before kids head back to school. So if you weren’t prepared to list your home this past spring or summer, you might think that you’ve missed the boat. You haven’t! Don’t postpone plans to sell your home.
Especially in today’s world and with our beautiful location, the Treasure Coast real estate market is hot and active year-round. There is no rule that says you can “only” sell in the spring or summer. In fact, we have seen just as much action during the fall months. So whether you’re ready to upsize or downsize, now is as good a time as ever to make your move.
Here’s a look at three reasons for selling your home in the fall.
Housing demands haven’t slowed down
The air outside might be crispier and the kids might be back in school, but this doesn’t mean the demand for housing has slowed down. According to the latest Buyer Traffic Report from the National Association of Realtors, “buyer demand remains very strong throughout the vast majority of the country,” which is excellent news for home sellers like yourself.
There are more than plenty of buyers actively searching the market for the perfect home. In most cases, these buyers are looking to make a move before the end of the year. Just in the first week of October, we have had properties sell in record time with multiple offers! Buyers are ready and they are motivated. Selling your home in the fall will likely draw massive interest, resulting in a speedier sale. Typically, we see more serious buyers at this time of year as they want to get moved in and settled before the holidays.
You’re competing with fewer home sellers
We have been in a sellers market for quite some time now and we see no sign of that slowing down. When there aren’t enough homes to accommodate homebuyers, the market shifts from a buyer’s market to a seller’s market. Inventory drops significantly and less competition can equal more attention for your property, which is a win-win for you! This not only increases the odds of a faster sale, but multiple buyers might also fall in love with your home. This could start a bidding war and drive up the price of your home, allowing you to walk away with a bigger profit (we have been seeing this a lot in our office!)
Also, less competition means there’s less pressure to give into buyer demands. You hold the cards in a seller’s market, and buyers know this. Therefore, they’re less likely to ask for closing cost assistance, and rather than offer less than your asking price, they might submit an offer for more than the asking price to stand out from the crowd.
Get out before interest rates and prices increase
If you’re looking to move up, now is the time as you can expect to get top dollar for your home in this market. Home interest rates are projected to increase over the next year. Because there’s no way to know how rates will perform over the next few months, selling now lets you get into a new house while snagging an affordable rate. According to CoreLogic, home prices are also predicted to appreciate by 5% over the next year. Putting off the sale and purchase of a new home until next spring or summer could result in paying an extra 5% for your dream home, and thousands of dollars more over the life of the loan.
Any time of year is a good time to sell when there are going to be serious buyers ready to consider your home. Take full advantage of the sellers market this fall season and cash out top dollar for your home when you have The Stracuzzi Team on your side! If you’re interested in a free home market evaluation or simply have questions about the real estate market, we’re here to help. Call us!