In my
last blog post, I shared with you why the ideal time
to
buy a Boston home is this spring. When that is the case, sometimes it means that
it’s a buyer’s market and it isn’t the ideal time to sell. That is not the case
right now! It is the ideal time to buy because if buyers wait, they’ll be
paying more. However, the favor is in the hands of
Boston home sellers.
This is your time!
Housing Wire shared an article that stated that 2014 should
prove to be the strongest year for housing activity since before the Great
Recession, that demographics should start to favor housing activity, and that
mortgage availability shouldn’t worsen and may improve. All of those
projections set up the rest of this year as being ideal for buying or selling
real estate in the
Boston real estate market!
So, why should you sell now rather than wait for home prices
to increase even more, as they are predicted to do? As your
Boston real estate agent,
I want to help explain that to you.
Competition will increase.
It is almost a sure thing that the
Boston real estate market will heat up as the weather heats up, and since we had a slow winter market,
this may be even truer this year than in the past! New homes are also on the
rise around
Boston, MA.
This means that your listing will be up against a lot more
listings if you wait, and then potential
Boston homebuyers will have
a lot more options, which means that you lose some of your negotiating power
and appeal. When you sell with fewer homes on the market, this forces more
buyers to take an interest in your home, and to possibly even begin a bidding
war on your home.
If you have lots of interested buyers, you can raise the price and perhaps get more for your home than if you were to wait for
prices to appreciate on their own. And with prices and mortgage rates predicted
to rise, it’s a good idea to sell now, while buyers are still out and eager!
They might disappear if home affordability lowers too much all at once.
Buy up or down now.
If you are looking to
sell your Boston home so that you can
downsize, upsize or relocate, now is the time to do it. Rising mortgage rates
and home prices will affect you, too. The longer you wait, the more you’ll be
paying for your next house, especially if you’re looking to buy a bigger,
better home. If you’re downsizing, you’ve got some more leeway. If you’re
relocating, it depends on how the real estate market is doing in that area. But
if the size or location of your current home is stressing you out, don’t put
off changing your circumstances any longer.
If you’re happy where you are, and you have some time to
wait for rising equity, that is a decision that is fully up to you. If you can
afford repairs, perhaps you’d rather go that route. If you like your location,
there is no reason that you have to move right now. Use this
MSN Real Estate article to help you decide whether moving now or waiting is the right choice
for you.
