5 Reasons to Consider Selling Now
Many homeowners in Boulder County are cautious about placing their houses up for sale. What will happen with interest rates? Will my house appraise for what the buyers are willing to pay? Can I find another home in time? How do I sell my home and buy another one without being homeless or renting? What’s going to happen with housing prices? These are all valid questions to have; however, there are multiple reasons to sell your house sooner than later. Here are five reasons to consider selling now:
1. There is a seasonal wave of home sales in Colorado
The majority of houses sold each year sell between April and July. Motivated buyers are searching for homes online all over Boulder County at this very moment and the inventory of homes for sale is down 19.8% compared to this time last year.
2. Less homes on the market equals less competition
More homes will be hitting the market over the next several months. The less competition you have when selling your home, the better. Don’t wait until all the other sellers in Boulder County put their homes up for sale.
3. Housing prices are rising quickly
If you are thinking of moving up to a larger home, consider doing so now. Home values went up an average of 9% last year in parts of Boulder County (I’ll be happy to provide specifics if you inquire) and are continuing to rise. Wouldn’t you rather see the gain in appreciation in the larger house you may want to be in than to delay and have that larger house cost more?
4. Interest rates are on the rise
The National Association of Realtor has predicted the interest rates on home loans to be at 5.5% by this time next year. Interest rates are starting to rise as well. For every 1% rise in interest rates, you’ll lose about 10% in purchasing power to maintain the same mortgage payment. For example, if you’re looking to buy a $750,000 house at today’s rates, you’ll need to lower the house you’re looking for to $675,000 in order to maintain the same mortgage payment when rates go up by one percent.
5. There won't be a “perfect” time to make the move
When was the last time you had regret in moving into your dream home? Life is short. Go after your dreams. Selling a house and transitioning to new one can be stressful, even if it’s your dream house. Make sure you hire a real estate expert with specific processes in place to significantly reduce the amount of stress you have to deal with while getting you the most money in your pocket on the sale. After all, that’s what you’re paying them for, isn’t it?