Spring is always the best time to list your home for sale in Coastal Delaware. Even in a challenging market, if a home is going to sell, spring is the selling season. They say “list your home in November, sell it in April; list it in March, sell it in April”. After a hard winter on the heels of an extended period of slow sales, there is a window of opportunity for sellers that you don’t want to miss.
What do I mean? This Spring 2010 offers buyers a unique opportunity to take advantage of very low mortgage rates, reduced home prices and tax credits that are due to expire April 30th, 2010. First time home buyers and repeat buyers who qualify for the tax credit have to find a home NOW and get it under contract; they cannot count on another extension. Is your house the one they’re looking for? If you want to sell but it’s not on the market yet, you will miss that window.
The new President of the National Association of Realtors (NAR), Vicki Cox Golder, recently commented “There’s a shortage of lower priced homes for sale in much of the country, resulting in multiple bids in some areas,” she said. “Raw unsold inventory has been trending down. As the market heats up again this spring, buyers may need to be prepared to move quickly on a particular home — the best advice is to begin working with a Realtor® now to be able to use the tax credit and benefit from the increased buying power in the current market,” Golder said. Active buyers are looking for a home, however, not a tax credit even if that’s what got them shopping. Are they looking for your home? Is your home ready to be bought?
Still not convinced? There is pent-up demand and cash buyers have been waiting on the sidelines. They sold a home perhaps and decided to rent until markets stabilized and they felt confident about buying another home. Do you really believe that financially conservative, long-term homeowners will stay out of the market much longer? Will they be happy as renters in limbo when they see an opportunity to buy the right home in a desirable neighborhood at a reasonable price?
New Home Construction
Have you heard the sound of hammers as new home construction begins again? Builders know they have to build a few spec homes to have in inventory when the buyers are ready to buy. The financially sound builders have taken over where others left off and now they’re betting on improved sales. Will they build a few too many homes, building up inventory with which you will have to compete? I wouldn’t wait to find out that I waited too long to sell my house.
If your home is listed for sale, do your thorough spring cleaning, call in the landscaping service and ask your listing agent to schedule that Open House. Your buyer may be searching the Internet right now or driving through your neighborhood on Sunday. Are you ready?
Don’t you feel more optimistic now that spring is here than you did during the February snow and ice? So do buyers!