At Last: A Special Message for Home Sellers

It’s hard to believe that the housing market turned so quickly for sellers!  We went from bad news – homes sitting on the market, inventory growing, and prices falling – to a sellers’ market.  That’s right…a sellers’ market.  Now listings are in short supply, and in some price ranges, sellers are receiving multiple offers.  The dream of homeownership is back in full force, and there are a lot of buyers ready to buy their piece of the American dream.

As we look back, we now see that the bottom of the market was in 2011.  Since then, sales have increased and prices have stabilized.  In some areas, they’re even rising.  The tremendous amount of pent-up demand that grew over the last five years has been unleashed, and with an improving economy, lower unemployment, and rising rental rates, the demand for housing has created a backlog of potential purchasers and a shortage of houses for sale.

So what does this mean for you?  Opportunity!  If you’re holding off selling your home now may be the time to rethink this decision.  If you need to sell in order to buy another home, the same great reasons to buy still apply:  an improving economy and real estate market, current home prices are still affordable and record-low mortgage interest rates.

Let me know if I can help you evaluate your situation.  And please don’t wait too long - many economists are forecasting a rise in interest rates sooner rather than later and that means the same dollars will buy less.  Nothing stays the same, and as we have seen change can occur quickly.

At last, opportunity is knocking. Let’s answer the door together!  Contact me for a complimentary Home Marketing Consultation. I look forward to speaking with you soon! 

Letitia Stevenson, REALTOR®
Listing & Digital Home Marketing Specialist
Licensed in DE, PA and MD

At Last - Delaware Valley Real Estate - March 26, 2013

 

Get It SOLD, Not Just Listed! | Pricing Your Home | Preparing Your Home | For Sale By Owner (FSBO) | Home Didn't Sell

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A Special Message for Home Sellers

If you plan to sell your house within the next 6 to 12 months, what you do now could mean the difference of thousands of dollars.

2013 Year In Review

In 2013, the Delaware Valley real estate market saw a robust comeback. Compared to 2012, sales were up 14% and the median sale price was up 4.5%. Inventory remained low throughout the entire year and ended the year 4% lower than at the end of 2012. And, while the number of distressed sales (i.e., shorts sales and foreclosures) declined by only about 2% for the year, we saw a sharp decrease in the 4th quarter – distressed sales were down by about 12% over 2012. As a percentage of closed sales, distressed sales went from about 17% down to 14.5% of the market.

Trends to Look Out For in 2014

All indications are that this year is going to start strong with January sales being forecasted to be about 10% above last year. And, many economists and housing market analysts are expecting a sales increase of over 5% in 2014 and prices to continue on an upward trend. While the amount of the price increase varies by region, here in the northeast, we are expecting about a 4-5% price increase in 2014.

Six (6) trends to look out for in 2014:

  • Increase in Home Values to Continue

  • Homeowners Likely to Regain Equity

  • Gradual Stabilization of Inventory

  • A Rise in Mortgage Interest Rates

  • Decline in Housing Affordability

  • Further Reduction in Distressed Sales

Selling a Home? 

Right NOW, the combination of rising prices, low inventories and low interest rates makes this a great time to sell for homeowners who are positioned to take advantage of this opportunity. Get top dollar for your home! Take action today! Contact me to get started or sign up for a FREE, No-Obligation Informational Home Seller Webinar: Getting Top Dollar for  Your Home!  - For Delaware Valley Homeowners.

 

Letitia Stevenson, REALTOR® - Licensed in DE, PA and MD
Home Marketing Consultant | Certified Negotiation Expert

Delaware Valley Real Estate - February 01, 2014 (Source of Local Data: TREND MLS 1/2014)

 

Get It SOLD, Not Just Listed! | Pricing Your Home | Preparing Your Home | For Sale By Owner (FSBO) | Home Didn't Sell

Home Marketing System | Transaction Management | List with Letitia | Home Value | Seller Request