Bev Murray Real Estate

Traditionally summer is a slow season in the Sarasota area for many businesses including real estate. However this summer is currently an excellent time to sell your home.

Demand From Buyers Is Strong

In the most recent Buyer Traffic Index report from the National Association of Realtors illustrates that in most areas of the country demand is strong. Not only does this mean there will be plenty of potential buyers, but those buyers must now compete with each other for fewer homes which can favor asking price.

With a strong demand from buyers we recommend anyone thinking of selling their home take advantage of these conditions and list their home.

Fewer Sellers Means Less Competition

The fact that it's a slower time of the year is currently working for sellers who do list their homes, as with fewer sellers placing homes on the market and stronger demand from buyers, pricing will remain strong and the time to closing can be reduced. In fact it's not just our area, nation-wide housing inventory is still under the six-month supply associated with a normal housing market.

Time Is Short - More Homes Are Coming Out From Under Negative Equity

With rising prices negative equity is reduced or gone for many homeowners now allowing the freedom to sell or buy. Since 2011 the average amount of time home owners stay in their homes had increased from 6 years to nearly 10 years. This was mainly due to many homeowners still being underwater in their mortgage, as time passes more and more homeowners are building positive equity and are able to return to the real estate market.

Home owners looking to sell in the near future should seize day so to speak, and place their home on the market before the backlog of owners who have been delaying moving to a new home enter the market in larger numbers and change the dynamics back in favor of buyers.

Competitive Buyers Are More Prepared

With competition for buyers higher, more buyers are making sure that that are pre-approved and have their financing in order before approaching sellers. Having more prepared buyers can reduce headaches and make selling your home faster.

In fact the latest Origination Insights Report from Ellie Mae has shown the time for buyers to close a loan has decreased to 43 days.

A Great Time For Buyers To Upscale

While as a whole inventory is down, the luxury market is currently a buyers market. If you are looking to move from a more modest home and break into the luxury market, now may be the best time.

CoreLogic has predicted that later in the year home prices with increase by 4.8%. So if your goal is to enter the luxury market, buying a home noew will not only save you money on the closing price but also reduce the amount needed for a down payment and mortgage payment.

If you are thinking of selling, or need to relocate contact Bev Murray today