If you’ve been putting off your home sale, what are you waiting for? The time to list is right now, and there are five reasons why.
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I know many people think they should wait until spring to list their home, but I’ve got five reasons today as to why you should list right now.
- Prices have gone up. Depending on your location, prices have risen between 3.5% and 5.5% percent. Here in Southern California, they’ve increased significantly.
- Inventory is low. In the last several years we’ve had 6,000 homes on the market in Orange County, but right now we have just around 3,900. The market is in desperate need of more listings.
- Interest rates are at historic lows. We’re still seeing interest rates ranging around 4%. This means buyers have increased buying power and will be willing to bid for your property against other buyers.
- Consumer confidence is high. The economy right now is doing phenomenally and unemployment is currently below 4%. With more money in their pockets due to tax reform, many people are ready to make their next home purchase.
- Millennials are entering the market. According to a recent study by Bank of America, 64% of millennials have saved $15,000 toward a home and 50% have saved over $100,000. If you price your home correctly, now is a great opportunity to take advantage of this demographic’s entrance into the market.
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The market is in desperate need of more listings.
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