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Want Less Competition When Selling?

Want Less Competition When Selling?Home sellers have had a hard enough time lately when trying to sell their home, what with having to compete with a surplus of foreclosure and short sale properties on the market, as well as decreased property values on their own homes. Throughout the nation the housing market is greatly improving however thanks to several different reasons, such as the number of distressed properties on inventory dropping drastically. While this reason, along with an increase in potential buyers and rising property values, make it a great time to sell your home, there’s yet one more reason why you should perhaps sell sooner rather than later and that’s because right now there’s less competition.

One form of competition that many sellers don’t think of when it comes to selling their homes is builders and their new construction homes. According to one real estate website, some buyers would prefer purchasing a new home over a resale property, meaning that new construction homes can pose some tough competition for those homeowners trying to sell their existing properties, especially if they need updating. With the economy improving and the number of homes on inventory being low, many developers will again start building new homes and developments throughout the nation. What this means for current homeowners thinking about selling is that they need to list their homes sooner rather than later to avoid having to compete with new properties.

Now is a great time to sell because buyers are entering the market at alarming rates, interest rates are still low but are slowly climbing, encouraging buyers to not sit and wait for a home but instead purchase when they find the right home. To avoid having additional competition and to take advantage of low inventory and eager buyers, selling your home right now is probably a better bet instead of waiting a while. If you do decide to wait, you never know when a new development is going to pop up in your area and give you some stiff competition when it’s time to sell your home.