The Spring Selling and Buying Season is Here

Filed under: Market Comentary

springIt definitely appears that the “Spring Selling Season” may have finally arrived. According to the National Home Sales Snapshot, which was released by DataQuick, existing home sales improved for the third time in the past five weeks, including a 1.6% increase in sold properties over the previous week.

So, what does this mean to home buyers and home sellers?

According to Forbes, here are some helpful hints as to what the spring season has in store.

  • It is a great time to sell…Now!

Everyone knows that the ‘winter home selling season’ is usually a bad time in the housing market, and with the terrible weather on its way out, house hunters are ready to do business. Mortgage rates are still at historic lows, so those looking to buy homes are ready to buy.

  • That’s a big percentage of the housing transactions

Did you realize that 60% of all the homes that will be bought and sold in 2014 will be done from May through August? So now is a great time to get your home on the market if you are looking to sell. The beginning of the ‘spring selling season’ until September will help your chances of attaining an excellent offer before home buyers have to think about the beginning of school.

  • If you sell, is your price right?

Your selling price is obviously a vital aspect to getting your home sold. In the current market, it is important to look at the comps of similar homes in your area. When you are doing this, a good rule of thumb is to make sure you are looking back no more than 60 days as the prices that homes have sold for recently will give you an excellent idea of what to expect.

  • Stay ahead of the game

If you are serious about selling or buying, now is the ‘prime’ time to do so. Listing your home soon will most likely allow you to have less competition than you would if you decided to wait until May or June. And if you are looking to buy, it’s a good idea to get out there now before that competition heats up.

  • Utilize that technology

With what you can now do with a phone, a large percentage of buyers are actually beginning their home searches online. In the coming year, that percentage is going to increase due the applications available and the plethora of information online. It’s extremely important to have your agent take the time to make sure all of the great things about your home can be seen clearly online and that your home ‘shines’ when someone is looking at his or her phone or computer. Doing this will attract more potential buyers¬†and hopefully allow you to sell your home quicker.

If you have any questions about the mortgage industry, please give me a call and I can discuss whatever is on your mind.


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