Friends and Clients —
Fall is upon us, we have experienced the first big rain of the year, and with it the end of the high season for real estate.
However, if you’re thinking you’ve missed your chance to sell your home, let me reassure you.
This fall actually presents a fantastic moment to sell. Here’s why.
First off, housing inventory is still incredibly low.
In fact, according to data from the Sacramento Association of Realtors, inventory remains well below historic averages, and is 72% less than the peak in 2007.
Second, while mortgage rates also remain very low, recent announcements by the Federal Reserve might cause them to finally start rising.
This would make mortgages less affordable and might turn away a significant number of potential buyers.
This is even more of a concern when you consider the continuing growth of home prices driven in part but the rising cost to build.
Third, contrary to conventional wisdom, fall is generally a great time to list your home.
Buyers in the fall are likely to be more serious because they have probably been searching for months without success. They may want to be in their new home by Christmas or before the end of the year.
Also, because fewer homes are listed in the fall, this means there’s even less competition than we’ve seen due to the general low inventory.
So what do you get when you put all those things together?
Well, if you were to list your home right now, chances are good that you would be able to sell it very easily and for a top price.
On the other hand, if you decide to wait, the situation might not be as favorable because mortgage rates might rise or because new construction might pick up.
That means the time to list your home is now.
You can get started with this home value calculator on my website, which takes into account recent sales specific to your neighborhood:
This calculator will give you a good idea of what your home is worth.
And if you would like a more precise estimate of what your home could sell for this fall, or if you have any other questions about the current real estate market, give me a call at 916-788-8822. I’m here to help.
Have a great day,
DeMattei Real Estate Team
Keller Williams Realty
BRE – 01229332