We live in paradise…so there’s probably no truly “bad” time to sell a home Well, maybe when a hurricane is coming isn’t the best timing…other than that, people move here […]
We live in paradise…so there’s probably no truly “bad” time to sell a home Well, maybe when a hurricane is coming isn’t the best timing…other than that, people move here throughout the year.
So, why do I say that “now” may be a better time?
There are three main reasons…
(1) First, because the economy is extremely strong right now. More people are working (fewer unemployed) – companies are hiring, 401(k)s are up considerably over just a couple years ago.
Why is this important? Because it means there’s a bigger buyer “pool” than usual. In other words – because more people are doing well financially, there are more people who are able (and willing) to buy homes. Some are looking for primary residences – others are looking for investment homes or vacation homes.
As we get closer to the 2020 election, the stock market is likely to slow down (markets don’t like uncertainty), so we’re likely to see a downward trend in home sales if the economy is perceived as slowing.
(2) The second reason this is a good time is because mortgage interest rates are at record lows. As of this writing (February 12, 2020), people can get a mortgage for about 3.5% interest. Before the market crashed, the interest rate was hovering around 6%.
That means, the monthly payment on a $500,000 loan today costs the same as a $375,000 loan would have cost in 2007! Buyers who are waiting and aren’t cashing in on this right now are making a HUGE mistake!
If you’re thinking of selling and buying another home – whether it’s to “down-size” or you’re thinking of moving up to a bigger home – you won’t want to miss this opportunity either.
(3) The third (and maybe biggest) reason to consider selling now is because the entire Pinellas County area is currently experiencing a strong SELLER’S MARKET. This is especially true of the beach communities, where homes are not only selling for top dollar – they’re selling quickly if they’re priced and staged correctly.
We simply don’t have enough inventory for the number of buyers who are looking to buy in the area – so that drives the prices up!
If you’re thinking of selling – be sure to download your free book –
HOW TO SELL YOUR GULF BEACH HOME FOR THE
HIGHEST PRICE IN THE SHORTEST TIME
If you’re ready to buy or sell a home – give us a call today!