Five Reasons to Sell in Portland’s Hotter-than-Hot Summer Real Estate Market.
As temperatures rise, buyers are cruising the streets of Portland (and surrounding communities)— maybe with LunaCafe’s Blueberry Lavender Limeade in hand—desperately seeking their ultimate home. Which might be YOUR current home.
They want to be settled into their new digs by fall–and definitely by the holidays. So summer is quite possibly the best time to list your home for sale. Plenty of buyers, eager to make the jump NOW, before winter closes in.
Jump to our Guide to Selling Your Home to see all the ways we help to ensure that your home sells fast and for top dollar. From Optimal Pricing, to Staging, Professional Photos, 3D Virtual Tours, Video Tours with Aerial Photography, Home Website, Global Internet Exposure, state-of-the-art Print Marketing, Open Houses and Brokers Opens, and maximal Social Media Engagement Campaigns, we know how to get the job done.
5 REASONS TO SELL NOW
1. Demand Is Strong
The recent Realtors Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. Buyers are ready, willing, and able to purchase–and are in the market right now.
Summer is the time to take advantage of the swarm of buyer activity currently heating up the housing market.
2. There’s Less Competition Now
A housing supply of under 6 weeks is a record low for Portland Metro. (Check out our latest Portland Market Action Report for details.) This means, in most Portland neighborhoods and surrounding communities, there aren’t enough homes for sale to satisfy the number of buyers in that market. This is good news for current home prices and home sellers.
However, additional inventory is expected to hit the market as many homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this fall and winter.
Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017.
Home choices for buyers will continue to increase over the next two years. So, for best advantage, don’t wait until housing levels rise back to a normal 6-month inventory before you sell.
3. The Process May Be Quicker
Fannie Mae recently announced that they anticipate an acceleration in home sales that will surpass 2007’s pace by late summer 2016. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling before the onslaught will make the process quicker & simpler
4. Great Time to Move Up
If you’re moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next year. If you wait to move to a higher-priced home, it may cost you more (both in down payment and mortgage payment).
Right now, you can also lock-in your 30-year housing expense with an interest rate near 4%. Mortgage rates are projected to increase by almost three-quarters of a percent in the next 12 months.
5. High Time to Move On
What’s more important than having the space and design features you need for you and your family? In a neighborhood you love? At a good price and mortgage rate that you can lock in for the next 30 years of accelerating home prices?
Only you know if it’s time to sell your current home and get on with the next great phase of your life.
When you’re ready, we can help make your dream home come true. Check out our FREE Guide to Selling Your Home to see all the ways we help to ensure that your home sells fast and for top dollar.
From Optimal Pricing, to Staging, Professional Photos, 3D Virtual Tours, Video Tours with Aerial Photography, Home Website, Global Internet Exposure, state-of-the-art Print Marketing, Open Houses, Brokers Opens, and maximal Social Media Campaigns, we’re here for you.
In the News
- 7 Tips To Sell Your House Now | Nasdaq
- Our Economist’s Top Tips for Selling a Home in 2016 | Realty.com
- Selling a home in 2016? Here’s what you need to know | CNN Money
- Top 10 Reasons to Have a Real Estate Agent Help You Sell Your Home | FindLaw
Copyright 2016 James H. Bradley. All rights reserved.