Why Now is a Great Time to Sell Your Home

-
Many real estate home owners have been waiting for the right time to sell their homes. Some stated reasons are that the market has not completed the correction, or they are waiting for home prices to continue to rise. These reasons often draw attention because some are not entirely up to the minute with real estate market pulse and how favorable the conditions are for sellers in today’s real estate arena.
Now more than ever, inventory levels have fallen more than 68% here in Tampa, Florida.  Available homes on the national level fell almost 2 million units last year!  Simple supply and demand would tell home sellers that your property is worth more because inventory is down. A national home data provider, Corelogic reported that home prices haven’t jumped this much in the last 6.5 years, and that this is mainly due to current tight home inventory. The end of 2012 showed an 8.3% increase from the prior year, an annual gain that hasn’t been felt since May 2006!
Corelogic went on to describe how the amount of homes in foreclosure is down 21% on an annual basis.  Home sellers are looking to capitalize on the depleted inventory should be doing so if you have been on the fence for years. While distressed properties dwindle, asking prices are also up in 86 out of 100 of the largest real estate markets, according to Trulia. Asking prices rose 6% from this time last year. While this sounds great, we need to take note of stronger market indicators such as job growth and record low interest rates, which also point to a healthier and longer lasting recovery. Tampa, Florida has seen this recovery in action. Our housing rebound is in full swing.
So as we enter the time of year when more buyers get eager to find the perfect home, and sellers make the finishing touches on their home improvement projects before putting their home on the market, we ask you to remember that now may be the most opportune time in six years to list and sell your home. Florida sees the most home searching activity in the moths of February and March so your chances of someone expressing interest are statistically higher. Also keep in mind that mortgage interest rates aren’t getting much lower and your buyers are ready now. This coupled with the continued drop in jobless claims indicates a stronger seller’s market that is anxious for some activity.
Ask us today to ask how you can maximize your selling power during these favorable times. Do not be left on the sideline wondering how much more of the pie could have been yours, call today to find out!
SI Real Estate, “Global Real Estate in Every Way

Comments

Post a Comment

Popular posts from this blog

Featured Community of the Week – Beso Del Sol in Dunedin, Florida

-
Image
Can you imagine waking up each morning to a majestic view of the sparkling Gulf of Mexico waters? This all-inclusive resort condo community in Dunedin, Florida provides a perfect waterfront retreat. Situated directly on the Gulf, panoramic waterfront views overlook the St. Josephs Sound and Honeymoon Island, creating a tranquil setting that is far from the ordinary. Condo and community features include: · Fully furnished, all-inclusive studio, one and two bedroom units · Flat panel TV’s, stainless steel appliances, and granite countertops · Two waterfront heated swimming pools and hot tub · Fully-equipped fitness center and bicycle rentals · Onsite property management and housekeeping · Boat slips · All utilities included in HOA fees · Castaway Tiki Bar onsite with weekly entertainment Beso Del Sol Resort offers three wonderful floor plans to choose from with prices starting in the mid $100,000’s. Whether you are looking for a real estate investment, weekend retreat, vacation property
Read more

Renting is as Competitive as Purchasing a Home in Tampa Bay

-
Image
  The 411 on Tampa’s Rental Market   Tampa’s real estate market is one of the hottest markets in the country. Sunny weather, lower taxes, and quality of life result in an influx of new residents every week, however, the Covid-19 Pandemic substantially increased that number.   According to Fox News Tampa Bay, “"Every day, a thousand people are moving to Florida, and out of that, about 115 move to Tampa every day. You have all these people moving from New York City, moving from DC, moving from Connecticut, moving from Chicago, they’re from expensive cities, even from California! To them, Florida prices are affordable. Whether they’re home buyers or renters, they’re moving here with a lot of money to spend, which is jacking up prices.”   The rental rates in Tampa Bay and surrounding areas have increased 20% from last year placing Tampa in the top 5 metros for highest rent increases. This increase is a result of an extremely sparse rental inventory. At the moment, Tampa’s a
Read more

Real Life Real Estate...New Construction vs. Foreclosure

-
Image
A hot topic for potential homebuyers is, should I look Foreclosures, existing older homes, or New Construction? The hype lately seems to be on Short sales and Foreclosures. Bank owned properties are being snatched up by cash investors and we hear of bidding wars everyday in Tampa over bank owned properties. Investors have money to spend, and no desire to occupy the property personally, they can fix any issues that arise with no problems. It is very enticing for a buyer to see large discounts foreclosed and short sales but what else does a buyer need to consider when deciding on purchasing a home? SI Real Estate has helped three clients purchase a new Construction home in the last two weeks. What made these buyers decide purchasing a new home was better than foreclosure and existing home options? There is a great website being advertised by Lennar homes, “Buying a New Home vs. a Foreclosed Home” . This website highlights advantages of purchasing new construction. Buyers need to cons
Read more