5 Reasons to Sell Your Denver Area Home NOW
1. Don't wait for the weather to warm up to sell...beat the competition by listing now instead!
The price of any item (including residential real estate) is determined by ˜supply and demand'. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
According to theNational Association of Realtors(NAR), the supply of homes for saledramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2016:
Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense, especially since we are expecting these same inventory patterns to repeat themselves in 2017.
2. Buyers in the market during the winter months are truly motivated purchasers.
They want to buy now. With limited inventory currently available in Denver and its surrounding suburbs, sellers are in a great position to negotiate. The number of active listings dropped significantly from November to December, and homes that are priced right and show well are selling within the first few days of listing.
3. Holiday decorations make your house look even better.
If you're thinking about listing in the next few days, go ahead and deck the halls...and leave the tree up through the New Year celebrations. Diffuse some holiday-themed scents like cinnamon and cloves during showings, and keep those twinkling lights on, too. Those warm, cozy vibes are likely to help your buyers feel right at home.
Pro tip: If Santa left any cookies behind, leave them out as a special treat for the agents and buyers looking at your home!
4. Interest Rates are Likely to Rise Soon.
After months of anticipation, the Federal Reserve announced it will be raising its key interest rate for the first time this year and just the second time since the housing bubble burst. That quarter-of-a-point hike is expected to result in higher mortgage ratesmaking it even more expensive to buy a home. This will impact both you (if you are planning to buy a replacement home) and your buyers' purchasing power, so don't wait to make a move if you're thinking about it - lock in rates now!
5. Denver is adding new jobs and attracting corporate headquarters to our area.
We are seeing companies like BP, Toast Masters, Google and Zillow opening huge offices in the Denver area, and January is also traditionally the month for employees to begin new jobs. Those relocating to the area may not be able to wait until Spring to buy, so it may be a good idea to list your home during the Holidays to capture that market.
Ready to get started, or just want to find out what your Denver area home might be worth?
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