IS THIS THE RIGHT TIME TO SELL YOUR HOME?

By
Real Estate Agent with Keller Williams Realty of Brevard

Is This The Right Time To Sell Your Home?

                                   

 

Should you sell your home now or should you wait?

Here are some reasons why this is the perfect time to sell your home:

There is a Higher Demand for Homes on the Market

       One of the most basic concept of economics is supply and demand. According to the Florida Association of Realtors closed sales of single family homes in Brevard County, FL for August 2013, are up by 11.5% since August 2012. The report also shows that there is only a 4.1 month inventory currently available in the market. In a normal market there is about a 6 month supply of homes. So we can see that available inventory is somewhat low. There are buyers out there who are seriously looking to purchase a home. Sellers of homes sold recently have seen multiple offers on their home. Currently competitively priced homes are selling at or close to their asking price.

 

Higher Interest Rates Erode Buying Power

Interest rates have remained at historic low levels for a long time now but for how long will they remain so? Most experts agree that they will rise within the next twelve months to eighteen months. Sellers should take into consideration that this will reduce the number of buyers who will remain eligible to purchase their home. As interest rates rise, the buying power of buyers will be reduced. A buyer who can afford a 200k home today will be able to afford a home for less than that amount.

 

Market Inventory Will Increase – Resale Homes and New Construction

Remember I talked about the basic concept of supply and demand? Also remember all the homeowners whose equity had eroded and they were under water the past few years? Many of them have regained lost equity as home prices have risen. They have been waiting to sell their home for the past few years and will now enter the market. New home construction is about to rise too, which will compete with resale homes.

 

Act Now or Pay More Later

Sellers who think they are going to wait a year or may or may not net more for their current home. However as interest rates rise, the total cost of the new home will costs thousands more  in interest and taxes; over the life of the loan. The same is true for buyers who do not currently own a home. They too will save thousands of dollars over the life of the loan.

 

Call your real estate professional. She or he should be able to help you decide what your options are based on your individual situation. One of the most important things will be to price your home competitively so as to open the market for your home versus closing the market. 

I have helped many sellers and buyers achieve their real estate goals over the years and I would love to add you to my list of satisfied customers.

Posted by

Questions about the neighborhood, the community, the market?  I'm always happy to help - Give me a call!

 

Serving Suntree, Viera, Rockledge, Cape Canaveral, Merritt Island, West Melbourne, Melbourne, Cocoa, Cocoa Beach, Satellite Beach, Indian Harbour Beach, Indialantic, Melbourne Beach, Palm Bay, Sebastian

 

About the Author...This article was provided by, Rekha Vyas a Nationally recognized Realtor, Certified Residential Specialist and Graduate of the Realtor Institute. Rekha can be reached via e-mail at RekhaVyas1@gmail.com by cell phone or text message at 321-759-4409. Rekha has helped many people buy and sell their home.  For real estate and homes on the Space Coast of Florida see www.RekhaVyasRealtor.com. If you need to Short Sale your Brevard county home please contact me for more information.

 

           

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Sales and Marketing
Location:
Florida Brevard County Melbourne Viera
Groups:
Realtors®
Target Marketing
Posts to Localism
Florida Waterfront
Local Expert
Tags:
brevard county homes for sale
melbourne fl
viera fl
satellite beach fl
cocoa beach fl
west melbourne fl
indialantic flmelbourne beach fl

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,966,547
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

The time to really sell, list is before you need to... don't wait until no time, lots of pressure. Mistakes are made and less money received or more paid for when up against it, a gun to your head of do or die in real estate list and sell.

Jan 05, 2014 10:40 PM #1
Rainmaker
59,148
Rekha Vyas
Keller Williams Realty of Brevard - Melbourne, FL

Thank you Andrew for your comment. In any profitable investment, the key is to buy low and sell high. If the market conditions are right it may be ok to sell when you need to and still come out ahead. However you are right, planning ahead rather than procrastinating is better.

Jan 06, 2014 02:26 AM #2
Rainmaker
4,644,945
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Rekka,

I think Andrew's comment says it all as far as I am concerned.  Wishing you a great 2014, and a great week.  A

Jan 06, 2014 02:51 AM #3
Rainmaker
5,585,363
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I was looking for your current blogs. Have an outstanding 2014!

Jan 06, 2014 02:53 AM #4
Rainmaker
59,148
Rekha Vyas
Keller Williams Realty of Brevard - Melbourne, FL

Thanks Ron & Alexandra. Hope you too have a great week ahead and a great 2014.

Jan 06, 2014 02:55 AM #5
Rainmaker
59,148
Rekha Vyas
Keller Williams Realty of Brevard - Melbourne, FL

Roy,

I just returned from an overseas vacation (4weeks) and will start blogging again. Wishing you agreat 2014.

Jan 06, 2014 02:58 AM #6
Rainmaker
4,210,763
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Rekha, a 4 week vacation sounds fun.   Great tips to let potential Sellers make the decision of putting their home on the market.

Jan 06, 2014 09:55 AM #7
Rainmaker
59,148
Rekha Vyas
Keller Williams Realty of Brevard - Melbourne, FL

Thanks Joan.

Jan 06, 2014 10:56 AM #8
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
59,148

Rekha Vyas

Ask me a question
*
*
*
*
Spam prevention