The groundhog decided that we have six
more weeks of winter. Does that mean you have to hold off on selling your home in the Lexington real estate market? No! In fact, most real estate experts suggest that you sell sooner
than later. So, as your Lexington real estate agent, I’m here to tell you to
sell your Lexington home right now, before spring, and why that will work in
your favor.
1. Homebuyer demand is strong. Mortgage rates have been falling
every week since the beginning of the year, with the exception of one week that they rose. Because of this, serious Lexington homebuyers are out
to buy! They want to score a low mortgage rate. That is why foot traffic among
prospective buyers is higher right now than any time in the last 12 months!
Take advantage.
2. Home seller competition is weak. While there are lots of
Lexington homebuyers out on the market, there are not a lot of Lexington home sellers selling right now. Nationally, housing supply dropped to 4.4 months,
which is under what is considered a normal housing market, which is a six
months’ supply. This means that more buyers will be looking at your home,
because they have fewer to choose from!
3. The process is quicker. Because there are fewer Lexington home sellers selling this time of year, there are fewer mortgage loan and
closing contracts happening right now. That means the time it takes from
contract to closing is quicker, because banks aren’t completely swamped, like
they typically are in the spring and summer markets. If you want to sell your Lexington home fast, now is the time to do it!
4. The time to move up is now. Remember what I said about
Lexington homebuyers taking advantage of low mortgage rates right now? Well, if
you’ve wanted to sell your Lexington home so that you can move up to a bigger
or better home, or you’d like to relocate to a new area, now is the time to do
it! By selling now, you too can take advantage of low mortgage rates when you
go to buy your next home.
5. The time to move on is now. As a Lexington home seller,
you’ll always be able to find reasons to wait to sell. But think about why you
want to sell. Do you want to relocate closer to family or friends, or for a new
job? Do you want to grow your family, or expand your living space? Do you want
to downsize and retire? There is a reason you want to sell. Move on with your
life and just do it! It’s a good time!
For more information on why now is the time to sell, check
out this KCM Crew article. When you’re ready to sell your home in the Lexington real estate market,
contact me, your Lexington real estate agent. I’d love to help you accomplish
your home-selling goals this winter!
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