Many of us are planning our Thanksgiving feast or making plans for Santa’s arrival. But a great deal of home buyers are planning their move before the end of the year. While home buyer demand is highest in the spring, selling your home in the fall or winter has its advantages, including:
Serious home buyers are out looking and ready to make offers.
This time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered nor inconvenienced by mere ‘lookers’. The lookers are at the mall or online doing their Christmas shopping.
Less competition from other home sellers.
Fewer homes on the market in the fall and winter limit choices for serious home buyers. If you want until spring to put your home on the market you’ll face greater competition from other home sellers.
The settlement process tends to be faster.
It typically takes 45-60 days from time of contract to go to settlement. During the off-season lenders have fewer loans to process which helps to cut loan processing times. The result? Many buyers can go to settlement in about 30 days. Sometimes less.
Home prices are on the rise.
The Washington DC metro area has a healthy real estate market, with rising prices and limited inventory. Overall, home prices are projected to rise by over 25% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more (both in down payment and mortgage payment) if you wait. Interest rates are rising too, but are still at historic lows. Sell now and you can lock-in a low interest rate for your new home purchase.
When you’re ready to sell your home, please give me a call. I’m ready to help! 703-963-0142 or firstname.lastname@example.org