We are often asked “is now a good time to sell my home?” The answer to that question is based on what your family’s personal and investment goals are. If you have been thinking about selling, now definitely is a good time. Here are five reasons why:
Reason #1: Your House Will Get More Exposure Now in Late Summer and Fall Than the Winter
Housing sales usually are greatest in the spring, level off in the summer and then regain momentum in September and October before slowing down significantly between mid-November to the end of January.
Reason #2: It is a strong Seller’s Market in Seattle
Northwest MLS figures show only about 2.2 months of inventory, well below the 4-to-6 months that many analysts say constitute a balanced market. King County continues to have the tightest supply with less than 1.2 months of inventory. Several neighborhoods have less than a month of supply. Multiple offers are common in the Greater Seattle Area, especially in hot spots like Bellevue, downtown Woodinville, Greenlake, Phinney Ridge, but also suburbs with easy commutes to major employers and good schools, such as Shoreline.
Reason #3: Interest Rates are expected to go up
Small increases in interest rates do not seem to have had any noticeable impact on activity and the area is still experiencing multiple offers in most of our market areas, heavy open house traffic, and moderate to high appreciation in values, however, most analysts expect the Fed to increase rates in the fall of 2015, in conjunction with their September 16 – 17, 2015 committee meeting. If that occurs, we could see higher mortgage borrowing costs toward the end of this year and into 2016. This will reduce affordability and may cool off the market a bit. So, if you have been holding on to your property because you have enjoyed seeing the dramatic increases in values, we’d like to point out that although most analyst predict continued growth, the expected trend is a more moderate growth rate.
Reason #4: It is the Perfect Time to Move-Up
With prices where they are and interest rates at all time lows, there may have never been a better time to move-up into your dream home. If you move into a more desirable home now, you will be in position to gain larger equity as prices continue to appreciate. If you are worried about having to sell your current home first before being able to afford the next time, we are happy to educate you on how to make that transition happen. Rates are expected to go up so buying that new house now makes sense and allows you to locking in a good rate.
Reason #5: You Get to Move On with Your Life
If you have been thinking about selling for a reason, the most important reason to sell is so you can get on with your life. Tired of managing a rental property? Have you been wanting to downsize? Have you been thinking of moving closer to family? Take advantage of this great seller’s market.
Most want to invest when prices are low and sell when prices are high. Timing the exact point of the lowest low and the highest high is impossible. What we do know is that this is a strong seller’s market and prices are high.
We’d love to meet with you for a free, no-obligation consultation and if you are going to sell, we hope you choose to work with us. Feel free to email us with questions any time.
Kerstin G. Brooks
Brooks & Heinze Real Estate Team
Cell: 206.276.5827
Email: info@propertyinseattle.com
Web: http://www.propertyinseattle.com/listings.html
Kerstin G. Brooks, Broker 