Katie McBride's Blog
Here are five reasons listing your home for sale this winter makes sense.
1. Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Housing inventory is still under the 6-month supply that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.
Historically, the average number of years a homeowner stayed in their home was six, but has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.
The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.
3. The Process Will Be Quicker
Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 44 days, after seeing a 12-month high of 48 days in January.
4. There Will Never Be a Better Time to Move Up
If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!
Prices are projected to appreciate by 4.7% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
5. It’s Time to Move on With Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.
That is what is truly important.
If you recently bought or sold a house and need to move in the near future, there is no reason to put off packing. However, procrastination sometimes can get the best of people and lead individuals to wait until the final possible moment to pack.
Packing items at the last minute can be stressful. As such, it is important to do everything possible to avoid the risk of packing procrastination.
Lucky for you, we're here to help you prep for your upcoming move and ensure all of your belongings are packed and ready to go for moving day.
Now, let's take a look at three tips that you can use to overcome packing procrastination.
1. Plan Ahead As Much As Possible
Although it may be several weeks or months before you need to leave your current address, it never hurts to start planning for moving day early. That way, you can identify any potential moving day hurdles and eliminate these obstacles as quickly as possible.
To plan ahead for moving day, take a close look at your belongings and determine which items you intend to keep. If you have excess belongings, you should sell, donate or dispose of these items as soon as you can.
In addition, you may want to reach out to local moving companies. If you hire a moving company today, you'll be able to receive expert support when you finally transport your belongings to your new address.
2. Eliminate Distractions
Let's face it – life is busy, particularly for those who are moving to a new city or town in the foreseeable future. Therefore, it pays to eliminate distractions that may hinder your packing efforts.
For example, if you spend several hours each day browsing the web, you may want to use some of this time for packing. You can even reward yourself with a few minutes of exploring the web for every hour that you pack.
Remember, you need to pack your belongings to ensure you can vacate your current address by a specific date. If you remove distractions along the way, you can increase the likelihood of packing all of your belongings in time for moving day.
3. Reach Out to Family Members and Friends for Assistance
Contact family members and friends for assistance as you prep for moving day – you'll be glad you did. These loved ones may be able to lend a helping hand with packing. Plus, family members and friends likely will hold you accountable for your actions and ensure you can stay on track with your packing goals.
Lastly, if you require additional help with your upcoming move, you may want to reach out to a real estate agent. This housing market professional can put you in touch with the best moving companies in your area to help you streamline the moving process.
Remove the risk of packing procrastination – use the aforementioned tips, and you should have no trouble preparing for moving day.
In the community of Shrewsbury, MA in the past month there have been 32 homes sold. The average sale price of these homes was $483,922 and the homes were on the market an average of 105 days. There have been 11 homes listed for sale during the past month Shrewsbury, MA.
We are here to serve all your real estate needs in the surrounding communities. We welcome your business, and we promise to take exceptional care of you or any of your referrals.
Thanks very much, and have a great day.
Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.
Zillow recently reported that:
“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset. Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”
What proof exists that owning is financially better than renting?
1. We recently highlighted the top 5 financial benefits of homeownership:
- Homeownership is a form of forced savings.
- Homeownership provides tax savings.
- Homeownership allows you to lock in your monthly housing cost.
- Buying a home is cheaper than renting.
- No other investment lets you live inside of it.
2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.
3. Just a few months ago, we explained that a family that purchased an average-priced home at the beginning of 2017 could build more than $48,000 in family wealth over the next five years.
4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!!
Owning a home has always been, and will always be, better from a financial standpoint than renting.