It really looks as if the end of this year is poised to be a very lively one for real estate in the area.
Intero is set to have the best year in its history and we're very proud to be playing a role in that success story.
The late summer issues with the stock market did have something of an effect on closings in October, but since then it has been good to note that, with the stock market roaring back to all-time highs, the homes market has also recovered very well and there is every sign that we are going to end the year on an extremely high note and start 2016 in a very strong manner.
It would be a shame, therefore, if you decided, as some sellers do, to temporarily take your home off the market until after the holidays. It is one of the biggest myths in real estate that homes do not sell at this time of the year. The current market trends we just mentioned are certainly proving this to be the case.
Buyers at this time tend to be among the most serious and motivated of the entire 12-month cycle. There are tax incentives to buy before year end, plus increased movement for new jobs and buyers actually having more spare time than usual to view property! They are also in a more emotive state to make positive decisions.
Mortgage rates have, of course, remained very low and that means buyer sentiment is still incredibly high. There seems some urgency for buyers to lock in low rates before the Federal Reserve possibly raises interest rates at its mid-December meeting. Although the knock-on effect on mortgage rates is not clear, and historic patterns suggest that they even could go down as a result, there is uncertainty in the air and buyers are therefore making hay while the sun shines, rather than awaiting the outcome of the Fed meeting.
Therefore, with sentiment so high, if you take your home off the market until next year you might just be missing out on one of the best opportunities to sell in the foreseeable future.
Inventory of available homes for sale in the area continues to struggle to keep pace with demand, creating an even more attractive end of year home selling opportunity, due to less competition at the moment. This is exaggerated by the fact that some sellers will temporarily withdraw from the market, no matter what good advice they are given. Your asking price will inevitably be more robust while there is less supply and plenty of very active and motivated buyers out there.
Have you also considered how attractive your home is going to look to potential buyers over the next few weeks? Seasonal decorations are a once a year opportunity to embellish the staging of your home to unprecedented levels. What could be more inviting to viewers than that!
All in all, and on many levels, there are still plenty of opportunities to end the year with your home sold and to be all set for whatever you're planning in 2016. Call us today to discuss how to maximize these great opportunities in your own situation.
Happy Thanksgiving!Dominic Nicoli