There’s a window of opportunity out there for home owners wanting to sell their properties and either move up or downsize. With Bank of America stopping their foreclosures in all 50 states last week, and other banks following in BOA’s footsteps, it stands to reason there will be less bank owned inventory coming on to the market…and even current bank owned inventory may be pulled off.
Why should you list your house now?
If some of the best priced inventory is pulled off the market, and future inventory is held in captivity, what are the alternatives for buyers who are looking to purchase now? Everything else. You’re talking about 1/3 of the inventory being removed!
The potential window of opportunity is just a simple lesson in economics. If inventory declines and buyers remain the same, supply and demand will have a different swing in momentum. Supply goes down, demand goes up. Prices MIGHT appreciate…if only for just a few months. Or, maybe they maintain. Either way, the chances of selling are greater since a large portion of the competition has left the market. However when the bank owned inventory that is being stockpiled is released, pricing will go back down.
If you’ve considered putting your home on the market now or in the near future, DO IT NOW! The housing market is not going to fully recover in one to two years. Try five years, minimum. Lots of sellers I speak with say the same thing, “We’ll hold on to the home for the next year or so and let the market go back up.” It’s funny how common of a statement that is. Do you know I heard that same sentiment in 2006, 2007, 2008 and 2009 as well? What do you suppose the sellers from 2006 are thinking? “We should have sold back then.” What do you think the homeowners today will think in a year or two? “We should have sold when we spoke with Anne-Marie in 2010. She really knew what she was talking about.” EXACTLY! That’s exactly what will be said, because I still talk with the folks from 2006 and that’s what they tell me!
If you’re on the sideline about selling your home, it’s time to get in the game. Use the Contact form on my website and we can schedule a time to discuss what I do to get homes sold.