So if you can believe it, September is just about halfway gone already! Seems like Labor day was months ago instead of weeks ago!
Most of you may know this already, but the Fall and Spring are the best times of year to buy or sell your home. Buyers are usually out in full force trying to move into their new homes before the holidays, and sellers are equally motivated to sell so that they may also settle in for the last few months of the year. As a Crofton resident and Realtor, I am seeing much more activity in the Crofton market these days then in July/August. So if you are on then fence about selling, here are a few reasons why now is the time to call a Realtor and get started!
Number 1: You wont hear any sensible Realtor tell you that now is a great time to sell your home. The truth is, buyers have a little more leverage at the moment then sellers. There are dozens and dozens of homes competing for a finite amount of buyer. But consider this, and stay with me here for a second....a few years ago, homes in my neighborhood were selling between $600-710K depending on the size of the 4 models. Now, the largest models are selling for $529-549K. Not what you want to hear. But a lot of the people that are moving out are families looking for even more space or older folks downsizing. Most are staying in Crofton, Some are heading to Davidsonville, some to Gambrills, Etc. The homes they are buying were worth MUCH more a few years ago (when their homes were worth more). Most of the time, the loss they are seeing in what they could have sold for in 2007, is less then the savings they are making in what they would have bought for in 2007.
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Did you get all that? Lol! So to recap,, your percieved loss (compared to 07 sales figures) selling now is usually less then the gains you make buying now.
Number 2: As we stated earlier, buyers that have the money and desire to buy are going to be doing so before the holidays. There will be more buyers willing to spend between now and Nov 30 (about 75 days) then there will be from Dec 1-April 1st (120+ days). The reason is simply time. Who has time to do anything but work, sleep, eat, and shop during the holidays? I know I don't and I am sure most of you are the same.
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Number 3: Hangover Effect. After the holidays, most people wallets are crying for mercy. Folks have paid cash for gifts, ran up some credit cards...in their minds spent A LOT of money. Most people do not want to spend money until they can stash some more money, which is usually spring at the earliest. I know of many cases where I have had buyers call me wanting me to help them find a home who simply cannot qualify anymore because of the credit card debt after the holidays. So as much as some people might try and want to buy, a lot cant.
I hope you all consider a lot of these factors when decided to list your home. I think now is a great time to sell and buy, and most experts will tell you the same. Rates are 4.1%-4.25% which is insanely low. If you are curious as to what you might be able to get for your home or want some advice feel free to email me at alex@abr-i.com and I would be happy to help you!
Until next time....
Alex
