If you plan to sell in 2018 and you want to unload your home quickly and for maximum money, your window of opportunity may be rapidly narrowing. Here's why you should get moving ASAP.
1. Rates are still historically low, drawing buyers into the market:
Rates are on the rise, and it's been widely predicted that they'll reach 5% before year's end. Buyers know that the longer they wait to buy, the more expensive it will be. Roughly translated, that means you'd be wise to list your home earlier in the year, before more rate hikes kick in. Not only will you capture the market of buyers scurrying to close a deal, but if you're buying after you sell, you'll also benefit from those lower rates.
2. Inventory remains tight—and demand high:
There are more buyers than available homes—particularly in red-hot markets where land is scarce and it isn't cheap to build.
Katie Griswold, a Realtor with Pacific Sotheby's in Southern California says; "We're in a very favorable seller's market," "We're seeing bidding wars—which push up prices—and buyers are submitting offers with very pro-seller terms, like forgoing the repair request or waiving the appraisal contingency."
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