There’s no doubt that Fall is the busiest season of the year. Kids are going back to school. There are the holiday’s right around the corner. You may not think that Fall would be the best time to sell your home… but, you may be wrong! Home inventory in Central Ohio is at an all time low, and when you partner that with historically low interest rates driving a high population of buyers — This Fall is actually the PERFECT time to sell your home!
According to the National Association of Realtors latest numbers, there is currently less than a 6 month supply of homes available on the market. What does that mean for you as a seller? This means that there currently aren’t enough homes on the market to keep up with buyer demand. This is great news for you if you’ve been considering making a move, and selling your home! The bad news for you is that the decreased inventory will not last much longer. Homeowners that bought their homes at the height of the housing market crisis in 06′, 07′, and 08, are now finally starting to see positive equity in their homes. Sellers that were unable to sell because they were underwater on their mortgages have finally come full circle with home prices in Central Ohio on the re-bound. What does this mean for you? This means that soon, there will be a lot more inventory on the market for your home to compete against!
If you’ve been in your starter home, watching and waiting for the perfect time to move up… there may never be a better time than now. Over the next 12 months, CoreLogic predicts that prices are projected to increase by at least 5.3%. What will this mean for you? If you are trying to move up into a higher priced home, you will spend more money in your down-payment, as well as in your overall mortgage payment, than if you bought a home now. The latest financing report from Freddie Mac states that you can lock in a 30 year fixed mortgage at 3.46%. With interest rates this low, it’s almost free money! Waiting for interest rates to rise, which they are projected to do over the next year, would cost you even more money!
I’ve never met a client, either buyer or seller, that is just ‘okay’ with throwing their hard earned money out the window. If saving the most money possible is important to you, than don’t wait. Sell your home with us this Fall!
As Realtors, Josh and I have our pulse on the real estate market in Central Ohio. With over millions in sales already this year, we are equipped to help you get from where you live now, to where you will love. If you’ve considered selling your home, check out our preliminary home value link by clicking HERE. You’ll get a free, instant preliminary home value sent directly to your email.
Contact us anytime:
Kayla Staup, Realtor