This year the market dynamic is creating new opportunities for sellers. You don’t want to miss out by not capitalizing on that opportunity. Here are 6 reasons to sell now.
1. A lot of people are in town for Spring Break. March means an influx of Spring Breakers from all over the country. Many of our visitors grab magazines and scour the internet for local properties before, during and after their visit. This is a great time to get a lot of exposure for your property.
2. Competition is still low. The typical Summit County real estate market has lower levels of inventory during the winter months and more properties for sale in the summer months. Starting in mid-April, when most ski areas close, sellers start putting their properties on the market and inventory begins to build.
3. Buyers are waiting on the sidelines. Because inventory levels are extremely low buyers have been struggling to find the right property. Inventory has been low for a while causing that backlog to grow.
4. Pricing is great. Most areas and property types have completely rebounded from the recession. Pricing is at or above peak values.
5. Interest rates are still low. They are beginning to tick up. However, buyers can still typically get a 30 year fixed loan for a vacation home in the low 4s. That’s a great rate.
6. Better availability of services. Last summer and fall it was taking 4-5 weeks for appraisers to appraise a property for a loan. That meant properties were under contract for 60 days when a loan was involved. Home Inspectors and contractors were also backlogged. When it takes longer for the service people we need to utilize for the real estate transaction it inevitably means the entire process takes longer. So far this year timing has improved which translates into a quicker sale.
If you’d like to sell your Summit County home this year, why wait? Let us help you get it sold. Contact The Mountain Living Team and sell now!