Today is officially the first day of spring! This means that
the busy Boston real estate market is just around the corner. Homebuyers are
already out, eager to buy a home before prices and mortgage rates go up, making
this a prime time for Boston home sellers to finally sell their homes!
Are you still not convinced that now is the time to sell?
True, home prices are predicted to continue rising at a slow and steady pace,
so if you wait, you might get a better offer. Then again, homebuyer demand
might disappear.
As your Boston real estate agent, I want to assure you that
the choice is yours! But if you’re feeling confused, here are the reasons I
would give to sell your Boston home now:
- Lenders are easing up on down payment requirements just in time for the spring real estate market boom. This means two things. One, buyer demand will be high for your home. Two, if you want to move up and buy a larger home, this is a great time to do it!
- Homes are selling faster because of the high demand of homebuyers. Realtor Magazine just reported that the median time homes were on the market in February was 98 days, compared to 123 in February 2011. At times, market time has been as low as 14 days!
- Mortgage rates have risen for the past few weeks, and last week, 30-year fixed rates reached their highest levels in more than six months. With mortgage rates and home prices increasing, along with predictions that they’ll increase more, homebuyers want to buy now. If you plan to buy another home after you sell, you should want to buy now, too.
- Rent prices are still soaring in Boston and Worcester. Boston.com reported that the Bay State has some of the most expensive rents in the country. With these prices, along with all the reports of a recovering housing market, you better believe that homebuyers will be pooling into the market this spring and summer.
- Because it’s possible that home prices will continue to rise, housing inventory is still at record lows. This may change as the weather gets warmer, but right now, you’ll get a slew of homebuyers looking at your Boston listing. If you want to sell your home quickly in the Boston real estate market, with the possibility of receiving multiple offers, now is your time!
As you can see, there is a lot going on as the
housing market transitions from a buyer’s market to a seller’s market. Many
factors are causing homebuyers to want to buy a Boston home quickly. Take
advantage! When you’re ready to sell your Boston home, contact me, your Boston real estate agent!
Phone: 617-642-7585
Email: pf@pattifine.com
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