Why You Should Sell Your Home – Now!

Why You Should Sell Your Home – Now!

The phrase "Wait till next year" might apply to your favorite sports team but it shouldn't apply to your outlook when it comes to selling a home. The year 2014 is expected to bring surprises – some of them unpleasant – for the prospective homebuyer, which might make it more difficult for you to make that sale.

Right now, before the end of the year, is probably the best time to look into selling a home. Many people think springtime is the best time to buy a home, as the weather gets warmer and more homes get placed on the market. This in turn becomes a buyer's market, which makes it more difficult for the Agent to get the desired price for the house. In addition, the competitive nature during the spring season places the Agent at the mercy of the buyer who wants to negotiate a lower price and other Agents and sellers who can accommodate the buyer's request.

Over the past six years, the housing market has not looked stronger. The National Association of REALTORS recently reported that in October, the median sales price went up 12.8% over a 12-month timeframe.

But will the improving market last? Interest rates are on the rise and there are no signs of a slowdown. Freddie Mac foresees the 30-year fixed-rate mortgage reaching near 5% by the end of 2014. This is why Agents should close the sale now and prepare for the unexpected in the future.

Serious buyers are looking for a home right now and want to lock into existing rates before they go up any further. Future buyers will also need nearly perfect credit scores to qualify for the loan and must be able to place a down payment of at least 20% – two requirements that lenders are enforcing during the mortgage application process.

During the fall and winter, you are more likely to encounter serious buyers. Serious buyers are the ones who do their homework on the local housing market in terms of what's available and what they can afford. They are really looking to buy and aren't going to waste your time. With fewer mortgage applications being filed in the late fall and early winter, the process will go more quickly and more smoothly and be completed in no time.

But probably the best reason for to sell now is that you have the desire to make a change in our lifestyle. If you "wait till next year" to sell your home, you are putting off living the life that you want

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Best regards,

Geri DeRosa Ertle

Licensed Broker Associate,  Charles Rutenberg Realty

Local Office:16 Poet Lane, Suite 1,  Setauket, NY 11733

Corporate Office: 255 Executive Drive, ST.-104, Plainview, NY

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