With record levels of snowfall this month of February, it's sometimes difficult to motivate sellers to get their homes listed! Many sellers are of the impression that if they wait until their grass is green and flowers are blooming, their house will show better and they'll get better offers. Here are some reasons why sellers should list now, and not wait until late spring.
1. Interest rates are at historic lows - but they are inching up. This has motivated some buyers to get more serious about their house search.
2. FHA rules are rumoured to be tightening - possible changes may mean that FHA buyers will have to pay more in the way of down payment and mortgage insurance. This will push buyers forward who want to beat these new possible changes.
3. We have already started our "spring market". Witness the "Open House Extravagansas" and the "Home and Garden Shows" prominent in our area.
4. The inventory will only get larger - creating more choices for your buyers if you wait.
5. There is a great selection of inventory for Move-Up buyers in this market. If you are a move-up buyer you will have lots to choose from.
6. June is historically our largest closing month - meaning that most buyers are under contract by mid April.
7. We are still in a down market. The experts are telling us that we should not be expecting to see house prices increase in value in the near future.
8. There are still First Time Home Buyer Programs out there. These programs are limited to areas, and funding availability - so there is a sense of urgency with those wishing to take advantage of those programs.
9. Because the Metro area is home to many large corporations, we are seeing transferees who want to get into a home before the school year ends.
10. You are more likely to attract serious buyers during the colder weather. Typically it is the more serious buyers who will go out into the snow and ice to look at homes - while the casual lookers will wait for nicer weather.