Popular wisdom is that "spring" market is the time to list, so many potential sellers are waiting until that time to put their homes on the market. As the KCMBlog.com pointed out, though, there are 5 VERY compelling reasons to get moving NOW!
1. Interest rates are on the rise. As rates increase, buyers have less purchasing power. This will eventually eat away at prices.
2. Your dream home has never been cheaper. PRICE is not the issue here, but COST. With low interest rates, you can get more home for the same payment you have now on the buying end.
3. Buyers are out early. Real estate publications are talking this up, and Lisa and I are seeing this every day. Many agents I know are busy busy busy!
4. Inventory will increase in spring. In Feb 2010, there were 3.5 million homes on the market; in March 2010, 3.6 million; and in April 2010, there were 4 million. This is a year over year trend.
5. We are currently in the calmest part of the foreclosure storm we will be in for a while. As more and more come on the market, prices will be driven down.
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