Numbers Don’t Lie … Look at these Graphs!
As a former Beverly Hills Financial Analyst, I can tell you, tracking numbers is critical when making decisions relating to your finances – especially when thinking about selling your home. I came across this article today from KCM – and wanted to share it with you. Here are the key points:
In school we all learned the Theory of Supply and Demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
SUPPLY
The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 4.8-month supply. This is significantly lower than the 6 months inventory necessary for a normal market. In Broward County – the supply is even less – it’s about 3.5 months as of the close of June 2015.
DEMAND
Every month NAR reports on the amount of buyers that are actually out in the market looking for homes, or foot traffic. As seen in the graph below, buyer demand this year has significantly surpassed the levels reached in 2014.
Many buyers are being confronted with a very competitive market in which they must compete with other buyers for their dream home (if they even are able to find a home they wish to purchase). Buyers – this is a great time for you to get pre-approved.
Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.
HOME EQUITY
Many homeowners underestimate the amount of equity they currently have in their home. According to a recent Fannie Mae study, 37% of homeowners believe that they have more than 20% equity in their home. In reality69% of homeowners actually do!
Many homeowners who are undervaluing their home equity may feel trapped in their current home, which may be contributing to the lack of inventory in the market.
Bottom Line
If you are debating selling your home this year, I would be happy to meet with you for a private consultation and evaluate the equity you have in your home. One of the best things about my business is getting to share how you can take advantage of this market and get top dollar for your home. It’s the first step in creating your WIN-WIN deal.
Connect with me at www.ISellBeachHouses.com or private message me. Be sure to ask me for a free copy of ‘7 Insider Secrets on How to Sell Your Home for Top Dollar in 45 Days or Less’
Have an amazing day. Be a Difference Maker for someone!
Debbie Wysocki is a Real Estate Consultant with Keller Williams Realty Professionals in Fort Lauderdale and believes you should ‘Love where You Live.’ She has been assisting people with their Real Estate needs for more than 19 years. How can she help you reach your Real Estate Goals?
