Selling A Home in Gainesville, VA

The economy has been an interesting ride for the last few years and the housing market in Gainesville, VA and indeed all of northern Virginia has not been spared.  There are some signs emerging that the housing market is rebounding.  Most of the time, we see a big increase in activity in the Spring.  There is, however, a school of thought that suggests the market conditions are right to list your home now, instead of waiting for the typical selling season.

Here are five reasons to list your home now, according to the KCM blog:

1. Demand Is High
   Homes are selling at a pace not seen since 2007. The most recent Existing Home Sales Report by the National Association of Realtors (NAR) showed that annual sales in 2012 increased 9.2% over 2011. There are buyers out there right now and they are serious about purchasing.
2. Supply Is Low
   The monthly supply of houses for sale is at its lowest point (4.4 months) since May of 2005. The current month’s supply is down 21.6% from the same time last year. Historically, inventory increases dramatically in the spring. Selling now when demand is high and supply is low may garner you your best price.
3. New Construction Is Coming Back
   Over the last several years, most homeowners selling their home did not have to compete with a new construction project around the block. As the market is recovering, more and more builders are jumping back in. These ‘shiny’ new homes will again become competition as they are an attractive alternative to many purchasers.
4. Interest Rates Are Projected to Inch Up
   The Mortgage Bankers’ Association has projected mortgage interest rates will inch up approximately one full point in 2013. Whether you are moving up or moving down, your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.
5. Timelines Will Be Shorter
   The dramatic increase in transactions caused many challenges to the process of buying or selling a home in 2012. We waited for inspections, dealt with last minute appraisals and prayed that the bank didn’t ask for ‘just one more piece of paper’ before issuing a commitment on the mortgage. There are fewer transactions this time of year. That means that timetables on each component of the home buying process will be friendlier for those involved in transactions over the next 90 days.

Interesting list – there is not a lot here to argue with!  Give us a call to get a free home evaluation.  Now is a great time to get the process started.