Written by: TFVstaff • December 15, 2019• Real Estate

Thinking of Selling Your Home? The Waiting Is The Hardest Part

Tom Petty famously penned the words, “the waiting is the hardest part” in his early 80’s hit song The Waiting, and his thought process can surprisingly also be applied to individuals considering selling their homes today. Of course, sometimes a seller can struggle to find a buyer and their patience can wear thin, leading them to use the we buy houses philly service and get their property taken from their hands but more often than not, a buyer will be found. Traditional thinking would suggest it may be best to wait until the spring to sell when there is a flood of buyers in the market, but right now may in fact be an even better time to list your home since there is less competition. When you’re thinking of selling your house and you find your dream home you may not be able to pay for your new home without receiving the money for your old one and then the property you loved is sold. For example, if there is a property for sale in Costa Rica, as this is a popular location the houses sell quickly. You don’t want it to sell to someone else, especially if you are not currently local. To avoid this read on to discover why this may be your time to sell and start buying.

We can see the overall economy is good: wages are rising, there are near record-low unemployment rates, and mortgage interest rates are at an historical low. Over the past 10+ years the housing market has stabilized, so what (if anything) is the biggest challenge in the housing market today?

The answer is simple: it’s inventory.

According to the Existing Home Sales Report by the National Association of Realtors, “Total housing inventory at the end of September sat at 1.83 million, approximately equal to the amount of existing-homes available for sale in August, but a 2.7% decrease from 1.88 million one year ago. Unsold inventory is at a 4.1-month supply at the current sales pace, up from 4.0 months in August and down from the 4.4-month figure recorded in September 2018.”

What does this mean?

While homes are coming to the market, they aren’t coming fast enough! Right now, across the country there is less than 6 months of overall inventory of homes for sale, putting us in a seller’s market. The challenge is that there are not enough homes for sale to increase the supply needed for the number of people who want to buy, especially in the starter and middle-level markets, like Cuter Bay.

When we look at the inventory challenge today, we can see that now is a great time to sell your house. Truthfully, waiting may end up being the hardest part in the long run. This landscape is a great place for sellers who own homes in your market to take the opportunity to sell in a sellers’ market, before inventory catches up with demand. Serious buyers are actively in the market and ready to make a move at this time of year. When inventory is limited at the lower end, like it is today, selling before more homes are listed could mean a significant seller’s advantage to those who are ready to move up.

Bottom Line

If you’re considering selling your home, don’t wait – now is the time to make your move! Take advantage of the high housing demand and the low inventory of homes for sale in your market and use your purchasing power while mortgage rates are at historical lows to go after the move-up home of your dreams. Let’s get together to decide if now is the right time for you. I can be reached at 786.373.6911 or jenn@sharplinerealty.com.

For more information, please contact Sharpline Realty at 305-778-6969, or visit sharplinerealty.com to start your home search today!

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