Why Now Is The Best Time To Sell Your Home…Even If You Think Prices Are Going To Rise

by Gary and Lisa Schoeffler on March 15, 2014

in Latest News

Ventura’s real estate market is growing and interest rates are still at a historical low…giving sellers a fantastic opportunity to earn top dollar on their homes.

We receive calls, daily, from our clients asking if now is the best time to sell their homes. Here are some key reasons we tell them to list now, and not to wait to see if prices will rise:

  1. Inventory in Ventura is extraordinarily low.  What that means for a potential seller is with low supply and high demand, sellers are earning top dollar for their homes.  We see countless sellers receiving multiple offers, even above their asking price.  If you have equity in your home, now may be a good time to review your opportunity, instead of waiting to see if prices will rise even higher.
  2. Ventura currently has a large number of active buyers unable to find their perfect home.  People wanting to be closer to their grandkids, looking for a second or vacation home and, of course, those looking to trade up or downsize, are waiting for their perfect home to come on the market.  Our team has gone door-to-door asking homeowners if they would be interested in selling their homes.  In a market where buyers are ‘waiting’ for homes represents a huge opportunity for a seller to maximize their gains.
  3. There could be a significant opportunity cost to waiting. For most homeowners, it should be a more comprehensive decision than just, “When can I sell to get the highest price?”  Sellers need to consider what their opportunity costs are by remaining in a house they do not want. Imagine buying a $300,000 home today, and in four years you want to trade up to a $500,000 home. That home will be significantly more expensive as mortgage rates will most definitely rise over the next several years. As a result, any profit you gained from selling your home would be lost, and your ‘trade in’ costs would be much higher.
  4. There will be diminishing returns to waiting longer.  As underwater homeowners begin to list their homes, and buy-and-lease investors begin to lose interest due to decreasing returns, the increase in supply will put downward pressure on prices, rendering sellers less profitable.

If you have equity in your home, we recommend calling us to see what potential gains, trade up, or down sizing opportunities might be available to you via a market analysis.  Waiting to see what where the market trends could be very costly.

You can find more information about Gary and Lisa Schoeffler at:

www.garyandlisa.com

 

 

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Post by Gary and Lisa Schoeffler

Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

Gary and Lisa has written 371 articles.

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