Selling in 2018
The real estate market throughout Southern California has officially made a solidified comeback. With the housing crisis of 2008 in the rearview mirror, buyers and sellers alike are entering a new housing market high that began to take shape back in 2017 and is continuing into the new year. The housing market from Orange County to Los Angeles has seen unprecedented sales, record prices and a buyer demand that has yet to be satisfied. No matter what angle you look at this current market, one thing is clear: it’s a great time to sell. If you’re considering selling your home this year, here are 5 reasons why you shouldn’t wait to make the move.
5 Reasons It Pays to Sell Early
1. Historically Low Interest Rates
Today’s 30-year mortgage rates are currently hovering just above 4 percent, a historical low for the market. Which is another cause of the currently high demand and large pool of potential home buyers throughout Orange County. This is a win-win for both buyers and sellers as sellers who are looking to buy can also benefit from these low interest rates. But only if they act now, before a predicted increase to around 5 percent as the year ends.
2. Tight Inventory & High Demand
Taking advantage of the low inventory and increased pool of buyers is something all sellers should want to take advantage of. So far this fluctuation of demand has made for multiple offers on homes priced at market value and closings at above asking price. Inventory prices are currently predicted to begin rising in the fourth quarter, which means now’s the best time for sellers to act.
3. Increasing Home Prices
A huge win for sellers looking to capitalize on their investment. But in order to maximize profit, it’s better to be on the front side of increasing home prices, rather than the tail end. Buyers are eager to enter the market and invest, but these attitudes are subject to change as the year goes on. Which means listing early could mean big wins for you and your family.
4. More Disposable Income
With record levels of consumer confidence, low unemployment and stock market surges, the stage is set for a high buyer turnout in 2018. As income grows and people find more stable jobs, buyers feel more confident in their finances and start looking to invest. Their best option? Buying a home in a stabilized housing market.
5. Millennials are Buying Homes
Real estate experts are predicting that millennials will make up a vital part of the buyer pool this coming year. According to Realtor.com, this age group is estimated to account for 43 percent of home buyers taking out a mortgage in 2018, and more buyers flooding the market can only mean good things for sellers. Especially when it comes to price points.
Listing with an Orange County Realtor
There are many options when it comes to finding a reliable real estate agent in Orange County. You’ll want to find a listing agent with a strong knowledge of your neighborhood, a large local network of potential buyers and a professional brand. With more than 18 years of experience and 250 million sold locally, I can help you sell your home for the best price in Orange County. Call me at 949-285-3215 to discuss listing options and start taking the necessary steps towards selling your home. You won’t regret working with the best!