It’s a Really Good Time to Sell
In most markets, most activity occurs during a seasonal period which usually lasts 160 days. Sellers should be reminded of this window of opportunity especially as the number of days is reduced. For example, if season is from January to April, 50% of the best selling opportunity has already passed with only half of this window opportunity remaining. It may be wise to stimulate additional activity through a price reduction.
Buyers are finally jumping back into the market and are/will be driving our market’s seasonal activity. Buyer motivations include:
- Interest rates – are extremely low, but are on the rise.
- Price – prices are stabilizing and even rising in some cases.
- Selection – the best or most desirable properties are rapidly becoming a thing of the past.
- Activity – when properties are priced right, the results have been multiple offers that are resulting in higher sales prices. The banks are using this strategy of stimulating activity by pricing low and selling high.
- Economic Recovery – economic signs including improved employment numbers, manufacturing activity and consumer confidence are all positive and are also helping create the present ideal window of opportunity.
Although this is all great news for sellers right now, with rising food prices, a still weak economic recovery, potential inflation and likely increases in mortgage interest rates, it’s impossible to determine how long this window will remain open.
Conclusion: Sellers take advantage of this wonderful window of opportunity and begin enjoying the rest of their lives.