At the end of 2011, we noticed a spike in the number of real estate sales, and this trend is continuing into 2012. There is an increasing amount of buyers flooding the market due to the low interest rates and a decreasing amount of sellers entering the market.
The law of supply and demand has come into play here, resulting in multiple offers at close to full asking price, and even above. Yes, I know it’s hard to believe but it is true.
Here are two great reasons to sell right now:
1) If the value of your home is at the point where you can move up in the market, with a very affordable monthly payment. You might be surprised once you talk to a mortgage broker about a desired price range.
2) Perhaps you have been counseled by your tax or legal advisors that a short sale may be the best course of action for you. If so, there is never a better time to capitalize on the current market conditions to get the job done. The banks are slowly getting more organized and efficient with these transactions too.
Here are two simple reasons to buy right now:
1) Home prices are low but showing signs of appreciation over the coming months/years.
2) Interest rates are still hitting historic lows.
Last year, there were many factors in play in determining if a home might get an offer. Right now however, in our current climate, it is guaranteed IF you priced your home right. You WILL see an offer and likely more than one, at that.
The scales have slowly been tipping from a buyer into a seller's market. Whether this continues, none of us know, but things are looking up.
Happy buying and selling!