This January you may have taken time to plan out your year or make goals for 2024. If you’ve thought about making a move, you may have wondered when the best time is to do so.
Perhaps you’ve thought that the best time to list is in the spring, when home buying is at it’s peak. That might not be the best option and here’s why:
1. Take Advantage of Lower Mortgage Rates
Right now, we are seeing a slight decrease in mortgage rates. Last year they peaked in January at 7.79% according to Freddie Mac. We are currently seeing a downward trend, which means buyers are heading back to the market. Economists are saying interest rates will continue to drop throughout the year.
As rates peaked last year, many buyers stepped out of the market to wait and see what would happen with the interest rates and home prices. Now they are back, eager, and ready to move forward. As more buyers are jumping backing into the market, there is a greater opportunity for your home to be seen and sold.
2. Get Ahead of Your Competition
Currently in the market, we are still seeing a shortage in home inventory. When priced correctly, homes for sale are receiving multiple offers and not staying on the market very long. Since there are not enough homes for the number of current active buyers, as a seller, you’re in a great position to get maximum exposure for your home.
As spring begins, more and more sellers will list or re-list their home. Keeping Current Matters says, “Listing your house now helps you beat your competition and makes sure your house will stand out.” When you list your home with a trusted agent, like Forsythe Group, we can help you price your home competitively and it could sell fast with multiple offers - as we have experienced recently on many of our listings just in the last several weeks!
3. Leverage Your Equity
Keeping Current Matters says, “Homeowners today have tremendous amounts of equity.”
Perhaps the financial fear has kept you from making a move. If so, we would suggest two things; communicate with a lender to learn about the actual cost of moving and see how your home equity can really help with your next move, it could possibly even be enough for the down payment and potential upgrades if needed.
The bottom line is, if you’re looking to sell this year it could be your best move not to wait. We can schedule an appointment with you before the end of February to talk to you about the process of selling. Click here to schedule an appointment with us or just give us a call today!
