As the clock struck mid-night this past new years eve the "Month's of Inventory of Homes for Sale" reached a historic low. Buyers began searching the web sites and driving their neighborhoods of choice looking for their next home. With interest rates still low but threatening to rise in 2014, most buyers want to take advantage of the existing rates and are ready to buy. While working with a current customer of mine this week, we found that in placing an offer on the home of their choice, we were competing with 5 other buyers. In February of 2012 we started seeing many multiple offer situations when writing contracts. This trend continued throughout 2013 with the only exception being the seasonal months of November and December. Now that it is January the buyers have increased but not the Inventories. Homes are being placed on the market for sale at a rapid pace now that it is January, but many of those homes are sold within days and sometimes hours. Shortly this will result in a more normal market as home sellers begin entering the market hoping to capitalize on the shortage and maximize the return on their investment.
Now not all homes fly off the market at the very best price and in record time. Homes that need work and TLC will still stay on the market for longer periods of time and traditionally will bring less money. So it's a great idea and strategy to plan for the sale of your home by consulting a professional realtor prior to placing your home on the market. And the time for that is Now. A well trained experienced agent is by far the most important decision you will make throughout the process. Choose wisely, ask for references, and check those references.
If you're thinking about placing your home on the market at this time and are willing to invest the time and effort preparing your home to sell, you should be delighted at the price you are able to obtain at this time.
For a Professional Evaluation of your home please call 817-975-6607.
