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5 Reasons to Sell Your House This Summer

5 Reasons to Sell Your House This Summer | Simplifying The Market

Here are 5 compelling reasons listing your home for sale this summer makes sense.

1. Demand Is Strong

The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.

Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners are granted the freedom to move.

Many homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you to decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Buyers know exactly what they can afford before home shopping. This makes the entire selling process much faster and simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 43 days. (Last numbers available.)

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has created a buyer’s market. This means that if you are planning on selling a starter or trade-up home, it will sell quickly, AND you’ll be able to find a premium home to call your own!

According to CoreLogic, prices are projected to appreciate by 4.8% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to start living the life you desire.

That is what is truly important.

Top 4 Renovations for the Greatest Return on Investment! [INFOGRAPHIC]

Top 4 Renovations for the Greatest Return on Investment! [INFOGRAPHIC] | Simplifying The Market

Top 4 Renovations for the Greatest Return on Investment! [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • If you are planning on listing your house for sale this year, these four home improvement projects will net you the most Return on Investment (ROI).
  • Minor renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.
  • Whether you plan to stay in your house for a long time or just a few years, it’s smart to know which home renovations add the most value.

Time for Your Dream Home, Gen X!

Time for Your Dream Home, Gen X! | Simplifying The Market

During the housing market crash, Gen X homeowners lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices, and the recovery of the housing market are helping this generation to regain their lost wealth.

According to Pew Research Center,

Their fortunes have rebounded more than those of other generations during the post-recession economic expansion and as home and stock prices have risen. Since 2010, the median net worth of Gen X households has risen 115%. In fact, in 2016, the most recent year with available data, the net worth of a typical Gen X household had surpassed what it was in 2007 ($84,200 vs. $63,400)”.

The same report also mentioned,

15% of Gen X’s homeowners were ‘underwater’ on their homes in 2010 (meaning they owed more than they owned). By 2016 only 3% were underwater.

As a result of homes regaining market value and their increasing net worth, many Gen Xers are presented with the opportunity of selling their current home in order to move up to the house they always dreamed of!

According to the 2019 Home Buyers and Sellers Generational Trends Report by the National Associations of Realtors, in 2018 Gen Xers made up the second largest share of home buyers by generation at 24%.

The report also provided some highlights about their purchase:

  • Greatest share that purchased a multi-generational home (16%).
  • Largest share that purchased a detached single-family home (88%).
  • Highest median household income ($111,100).
  • Bought the most expensive homes of all the generations.
  • Job-related relocation was identified as the primary reason to buy.

But this generation is not only buying- they are selling too!

  • Largest share of home sellers (25%).
  • Highest median household income among sellers ($123,6000).
  • Tenure in the previous home was a median of 9 years.
  • House too small was indicated as the primary reason to sell.
  • 91% sold the home using a real estate professional.

Bottom Line

If you are a Gen Xer who would like to know exactly how much your house is worth today so you can move up to the home of your dreams, let’s get together to analyze your current circumstances.

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The Hilda Jones Team

Relocation Certified Broker Associates
Serving Northern Fox Valley Residents for 40+ years!

TWO Office locations:

1557 S. Randall Road, Algonquin, IL 60102
230 W. Virginia St  Ste 400, Crystal Lake, IL 60014

 jenny.jones@bairdwarner.com
Moving out of Chicagoland? I can help!

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Jones.Team@Bairdwarner.com
Call: 847.987.7089

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