Wednesday, October 20, 2010
Beat the Competition! Why today is a great day to put your home on the market for sale.
Thinking of selling? Now might be the right time to put your home on the market. This blog shows nationally the increasing number of homes that go on the market between January and April. Below is a trend based on last year from October 2009 through and including April 2010.
You do seem more of a jump on homes listed in Prince George's County and Montgomery County than in Washington,DC which could be because Washington,DC is more transcient. Never the less even in Washington, DC you can see that OVER 5 TIMES THE NUMBER OF HOME OWNERS LISTED THEIR HOMES FOR SALE IN APRIL 2010 THAN IN OCTOBER 2010.
In MONTGOMERY COUNTY WE SEE THAT OVER 8 TIMES THE NUMBER OF HOME SELLER LISTED THEIR HOMES FOR SALE IN APRIL 2010 COMPARED TO OCTOBER 2009. FINALLY,IN PRINCE GEORGE'S COUNTY , LIKE WASHINGTON, DC WE SEE THAT OVER 5 TIMES THE NUMBER OF HOME OWNERS LISTED THEIR HOMES FOR SALE IN APRIL 2010 THAN IN OCTOBER 2009.
Beat the competition.
October 09: 23 in Washington,DC; 26 in Montgomery County,MD;
56 In Prince George's County
November 09: 31 in Washington DC; 39 in Montgomery County;
63 in Prince George's County
December 09: 44 in Washington, DC; 105 in Montgomery County;
64 in Prince George's County
January 10: 36 in Washington DC; 45 in Montgomery County;
120 in Prince George's County
February 10: 59 in Washington,DC; 54 in Montgomery County;
97 in Prince George's County
March 10: 121 in Washington, DC; 127 in Montgomery County; 241 in Prince George's County
April 10: 120 in Washington, DC; 216 in Montgomery County; 314 in Prince George's County
Nationwide,we also see a spike in real estate inventory between January and April:
January – 3,277,000 listed
February – 3,531,000 listed
March – 3,626,000 listed
April – 4,029,000 listed
Another good point is list before all the foreclosures are rolled out...as blog calls "discounted inventory" which might pull attention away from your home. And,interest rates are amazing for buyers.
Interest rates today are 4.19 (depending on your credit and lender,points).Professor Karl E. Case, the founder of the Case Shiller Pricing Index in an article in the New York Times last month actually did the math for us:
"Four years ago, the monthly payment on a $300,000 house with 20 percent down and a mortgage rate of about 6.6 percent was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20 percent down would carry a rate of about 4.2 percent and a monthly payment of $833 … housing has perhaps never been a better bargain." Buyers can afford to buy more house if you will because of the amazing interest rates.
A lot of buyers really are out and may be turning from looking to shopping. At this time of year, the ‘lookers’ are at the stores doing their holiday shopping. The home buyers left in the market are serious and are more apt to make a purchasing decision. Less showings – but to more motivated purchasers who will buy a good home in condition and value.
For a FREE-PRE- MARKET ANALYSIS and to get your home on the market IMMEDIATELY BEFORE THE SPRING LISTINGS AND FORECLOSURE ROLL OUTS,contact me today.
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