By Karin Head
The Karin Head Team – Keller Williams Realty Elite
Are you thinking of upsizing or downsizing in 2016? Are you looking to move to a new location in or around Winston-Salem, but aren’t sure when the right time is to list your house? Have you outgrown your current location? If you’re asking yourself any of these questions, it may be time to put your house on the market. Here are some great reasons why 2016 is the perfect time to sell your home!
Winston-Salem is becoming a seller’s market: Since the housing bubble burst in early 2008, the real estate market in Winston-Salem was largely considered a buyers’ market. In other words, there was more houses available for purchase than there were buyers to buy them, and houses were staying on the market longer than normal.
However, the market is shifting in our area. Homes are spending less time on the market as buyers are moving more quickly to purchase properties. As a result, sellers are able to sell their homes for a reasonable price. Specifically, homes listed in the $250,000 and under category are selling quickly, and some are even reporting multiple offers on properties. This is good news for sellers!
- Home prices have stabilized: When the bubble burst, many homeowners were left “underwater” in their homes, meaning that they owed more on their house than it was worth. Fortunately, as the market recovered, so have home prices. And while it may be several years before prices reach inflated pre-2008 levels, home prices are now at levels that are reasonable for BOTH buyers and sellers. Sellers feel that they can sell their home for what it is truly worth, while buyers still feel that there is great value in the market.
- Buyers are taking advantage of lower interest rates: For the past several years, banks have kept interest rates on mortgages low to help entice people to purchase homes. The lower the interest rate, the less mortgage holders have to pay for their homes, both monthly and over the life of the loan. In late 2015, the Federal Reserve Bank announced that it would be raising interest rates; however, those rate hikes have never occurred, keeping mortgage interest rates low. And buyers are not letting the opportunity go to waste!
- The Spring selling season is here!: With Spring quickly approaching later this month, we are now in the prime home selling season in our area. Now is the time to put a home on the market, as buyers are out and looking – and purchasing! Typically, the peak of our real estate season runs from March – August, meaning now is the time for sellers to take advantage of a hot market!
So if you’ve been thinking of selling your home, now is the perfect time to put it on the market. Buyers are out there, and yours might be the perfect property for them! And you can move into the house you’ve always dreamed of. What are you waiting for? Contact a realtor today and get your house sold!
Karin Head has been working to make Forsyth County home buyers’ and sellers’ dreams come true since 2008. She is the Broker/Owner of The Karin Head Team – Keller Williams Realty Elite. For more information or to view listings, please visit HERE.