OK – so there is still tons of snow on the ground but should you think about listing your home for sale right now?
The answer is YES! There is never a “better” time to sell if you are ready NOW. Sure, there are external factors like weather that only improve as spring marches around. But, here are some things to consider that will be beneficial if you choose to list your home today!
Interest Rate in 2018
We all know that the interest rates for borrowing money have been at all-time lows for the past few years or so, maybe even longer. The economy is rebounding and so which direction will current interest rates tend to go? UP, of course! There has never been a cheaper time to take out a mortgage, so now is the time to act before those interest rates start to climb later this year. Take advantage of the low interest rates and lock in for a fixed rate that will seems crazy low in the next few years.
Less Inventory in Kelowna
If you are ready to list now and get your property on the market before the snow melts, then there is a chance that you will have the jump on all of those who will list in spring. Typically there is low inventory over the winter months and then the mad rush to get listed in spring. List your home for sale before the flood of homes glut the market. Your yard may not show as well buried under snow but if a property is priced right, the snow won’t matter, it will sell regardless of the weather. Remember, serious buyers are out in all sorts of weather, this leads me to my next good reason to list now! Just keep the walks and driveways shoveled and remember “curb appeal” counts all year ’round!
Serious Buyers are Looking
There is snow on the ground, the weather is unpredictable and you are out looking for a new home – are you serious? YES! People have to move from one home to another for various reasons all through the year but those that are slogging it out in bad weather, when they can’t even see the backyard, those are serious buyers. Also, if homes are selling fast in our market, then the sellers who are staying in the same market will need a new home too!
Are we in a Sellers Market?
We are currently in a “Seller’s Market” here in the Okanagan. A seller’s market is when there are more people looking to buy than there are homes available and this can tend to drive prices up,(win for the seller) This is especially true when multiple offers come in for the same home. We have seen this happen in the past and we experienced it again this February, where homes that were listed last year, relisted in February for the same price and sold right away! A “Seller’s Market” is indicated by a sales-to-active-listings ratio of 20% or higher. The statistics for January 2018 in the Central Okanagan show a Sell/Inventory ratio of 23.48% for residential homes. This is stronger than last January of 19.92% so look out 2018!
YOU ARE READY!
You are wanting to sell your home – possibly done some upgrades – cleaned – and are open to moving to a new home – are you ready to list? We think so. There is no time like the present and we offer all the resources to make this a smooth transition. Enlist the help of our professional stagers, photographers and marketing experts and our dedicated Listing Coordinators. And let’s not forget our experienced buyer’s agents who will help you find your next home! If you are comfortable with keeping your home show ready at all times and want to cash in on the above reasons to list then what are you waiting for?
If you would like an idea of what your current home would sell for in today’s market then give us a call and we can chat about numbers. You know your home best and we would love the opportunity to discuss what it would take to get your home sold. This is an obligation free service that we provide and we are able to do it at a time that suits you best.
What are you waiting for?
Shannon & Tamara