If you’ve been holding off selling because you’ve noticed the home prices are starting to go up, let me warn you not to wait too much longer. We are at an interesting crux in the market right now where interest rates are still under 5% but home prices are starting to go up. We are seeing the same type of “sit and wait” mentality with sellers as we saw with buyers during the bottom of the market; waiting as long as you can before buying so that you get the best price.4 reasons you need to sell now

But now we're here with sellers and sellers want to wait as long as possible to get the best price but we may have seen the best time to sell already come and gone. Interest rates are still at record lows so buying a home now is a smart investment but waiting too much longer and the interest rates will continue to rise as do prices. If these sellers hold out they may find themselves sitting on the market much longer than they had anticipated.

There are four reasons now is the best time to sell.

  1. As interest rates go up fewer buyers will be on the market. The longer you wait the fewer buyers you’re going to see because home prices and interest rates are both rising. If you’re currently sitting on positive equity and you can stand to gain a profit from the sale of your home, I wouldn’t wait any longer at this point. The longer you wait, especially as we head into winter, the fewer buyers will be out there competing for your home.
  2. Builders are now back in full swing. Just several years ago many new home sites and subdivisions looks like a ghost town; completely devoid of any activity. But now with the market turning around these home builders, developers and contractors are scrambling to keep up with the market and buyers have a stigma now that they are looking for brand-new homes with all the bells and whistles. If you want to sell your home, now would be the time before these subdivisions and new neighborhoods explode.
  3. It’s still 'sort of' summer. You will find more buyers in the spring and summer than in the fall or winter. However, you will also find fewer sellers in the winter which may mean fewer competition for the buyers that are out there. Is that a risk you’re willing to take? Possibly.
  4. Is now the best time to sell? If you don’t need to sell and your only playing the market, it may not be the best time. Serious sellers price their home correctly and get it sold; sellers that just want to play the market may find themselves sitting on the market for a long time. If you need to sell now, it is the best time to sell.

So if now is the best time to sell for you, don’t wait any longer. Call me today and let’s see what your Portland home is currently worth, how much you can stand to gain from a profit, and how quickly I think you could sell.

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