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Now Is a Great Time to Sell Your Home!

Considering Selling? Now is the time!

As we all know, the last few years of the real estate market has been a true buyers' market. This buyers' market was driven by low interest rates, falling prices and a huge inventory. Much of the inventory and low prices came as foreclosures and short sales flooded the market. Buyers could take their time and choose between several homes that fit their own criteria and pricing goals. These conditions made it very hard for those who wanted to sell.

Well here is some good news. If you have considered selling over the past four or five years but didn't feel you could compete, now may be an excellent time to have your house on the market. Here are three reasons why:

1. Very Low Inventory - Every buyer that I am currently working with complains that they just don’t have that many houses to choose from. For those homes still on the market there usually seems to be a reason. Many of these homes are in poor condition or may have a bad lot. For whatever reason, these homes are still on the market because of some undesirable condition.  Buyers are still looking for a good deal that is move-in ready.

2. Very Few Foreclosures – The banks have been keeping their inventory of foreclosures and have not been releasing them into the market. This has given the market a chance to stabilize over the last few months. But don’t get a false sense of security that things are starting to go back to the way they were. The banks still have a huge inventory of foreclosures and could begin releasing them again early next year.

3. Interest RatesInterest rates are still at historic lows. This allows buyers to buy more house for the same monthly payment. These low rates will not last for every as the economy way turn around at some point. The upcoming election may also affect interest rates moving forward.

So let me say again, if you have considered selling or have attempted to sell in the last few years, conditions are much better now to give it another shot. This window of opportunity may not last long. More foreclosures are expected in 2013. Interest rates will go up at some point (who knows when that will be?).  If you have any questions or would like a free Market Analysis, get in touch with your realtor or give me a call.

Scott Lacy is a real estate agent with Keller Williams. He is also the author of the Dacula Real Estate Notebook, a real estate column with news and advice about the Dacula housing market. You may reach him at 770-722-5129 or scottlacy@kw.com. You can also visit his web site, www.SearchingDaculaHomes.com.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Scott Lacy June 16, 2013 at 02:15 PM
Kennedy and Osborne, I wrote that article back in October. Since then the market for a seller has gotten better and better and better. Each point in my article has continued to trend in favor of the seller. Inventory has gotten ridiculously low and foreclosures are practically non-existent. It is a basic principle of supply and demand. Houses that were on the market for years because they were over-priced have now sold. New listings priced correctly are selling in days with multiple offers. Today is the best market we have had for sellers since before the real estate bubble popped. Is it a perfect market? No - Earlier in the year we had trouble with appraisals catching up with rapidly rising prices. It seems that situation has gotten a bit better and will continue to improve. Honestly the challenge in many cases comes after getting a listing sold. That seller now becomes a buyer. With a low inventory, that client has to find a home and be ready when the sale of their existing home goes through. I could back all this up with a bunch of statistics about inventory, average price, average days on market, but I can tell you I see it and feel it every day taking listings and working with sellers. It is a great time to list if you want to sell your house. Bottom line - the market activity is coming back. There are great things about being a seller in this market and there are some great things that make buying great as well. If you have any questions, just let me know!
KENNEDY June 16, 2013 at 03:17 PM
You are correct MK
KENNEDY June 16, 2013 at 03:18 PM
I'm actually in the business as well & I stand firm by my statement above. You're entitled to your opinion however misleading others is wrong.
M.K. OSBORNE June 16, 2013 at 03:43 PM
I am a consumer with brains enough to know that this is a crock and is only good for you because you need to sale by any means . By the way did you adjust your commission like many consumers had to adjust due to a depreciated valued economy brought on by your peers.
M.K. OSBORNE June 16, 2013 at 03:51 PM
Scott , The market is great any time you want to sell because you will always get your commission regardless , if a house was worth 200.000 and right now its moved up to 125.000 and still growing i say you're nuts unless you have to sell . Why should the consumer bite off a 75,000 loss just to keep you employed . Scott .. you're making used car dealers smile across america because finally someone is taking their place as the most deceitful .

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