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6 Reasons 2013 is a Home Sellers Market
Prices for existing homes rose another 7.7% in the month of December. For our customers who have been patiently waiting for the market to favor sellers, instead of buyers…the tables have finally turned.
Why is the housing inventory so low in 2013?
The Wall Street Journal writes a good article on this, pointing to six reasons:
1. Many homeowners are underwater, and thus can’t sell.
2. Homeowners with equity in their home don’t have enough of it to “trade up” to buy a bigger and more expensive home.
3. Everyone wants to buy at the bottom, but few want to sell when they feel their home will be worth more next year.
4. Investors – from mom and pop and corporate investors have come out and become landlords, taking property that normally would be on the market into the rental realm.
5. With the foreclosure fiasco, banks have been slower at foreclosing homes.
6. There’s been a lot less construction of new homes by home builders.
What does this mean for home sellers?
1. Advertising your property on the MLS and Realtor.com has never been more crucial to reach qualified home buyers. Realtors and homebuyers are searching for new listings, daily, because there is nothing on the market that fits their needs. If your home does not appear in these real estate search engines, chances are that no one will ever know your home is for sale and you will miss your window of opportunity.
2. Holding an Open House on the weekend is a great way to get people who see your listing online into your home for an actual showing.
3. Place a FREE listing on InfoTube.net. InfoTube is visited by thousands of people daily who are looking for “by owner” property.
4. The homes that are flying off the market are the properties in the best condition, location and they are priced right, ready to sell. Homebuyers will not look at a house that is overpriced, hoping to negotiate back and forth. They are buying homes that are reasonable to purchase and are ready to move into.
5. Keep your InfoTubes and InfoBoxes full of flyers. We receive calls from buyers everyday who want more information, but the container is empty. Be sure to keep a back stock of brochures on hand in time of high traffic.
Home sellers should act quickly to take advantage of the present market conditions because they will not last. Home inventory levels will increase as home builders react and start more new homes. Banks will quickly work there way through millions of foreclosures that are still sitting in limbo. And, home buyers are snapping up houses right now to lock in low interest rates and low home prices. If you want to sell your home for the most money, in the least amount of time, you should act aggressively. Time is of the essence.
Thank you for visiting InfoTube.net. Post a free property listing on our website. Search for thousands of homes for sale seen no where else. Buy an InfoTube or InfoBox to market your property..nothing beats providing a brochure about your home, instantly to a prospective buyer. Put your property information in front of millions of internet home shoppers and real estate agents with our low cost MLS and Realtor.com listing packages. Whatever you need to sell your home….we have you covered since 1988.