Why not start off the New Year with a change? As most people are apt to steer clear of the real estate market during the holiday crazed months of November and December, they take advantage of the fresh start of January to get back at it. If you’ve been holding out for a great time to sell, look no further than 2015!
Dropping mortgage rates
Currently, tension in the global economy and dropping oil prices in the winter are causing falling mortgage rates, which is good news for sellers. Lower mortgage rates mean that more buyers will be out and about searching for their dream home – take advantage of this drop while it lasts and put your house out there on the market!
2014 vs. 2015
In 2014 we continued to see sales prices rise across the Northeast! The average sale price in Massachusetts has increased 5.7% according to MLS data for single-family homes ranging from November 2013 through November 2014. Based on a new year, continued low interest rates and a shortage of inventory, all indicators point to a very successful 2015 if you are considering selling your home!
First time Buyers
As the unemployment rate continues to drop, more young adults will be leaving the nest and looking for homes now that they have solid jobs and a stable income. As long as this continues, sellers should have a steady pool of buyers to choose from. Young adults who have previously rented may look to purchase their first home as well in 2015 due to lower down payments, more flexible lending standards, and a larger selection of properties.
Most people stay cooped up all winter and only head out for things they absolutely need – which means that as we move into 2015 and closer to spring and summer, more people will be willing to head out and search for their new home. Warmer weather will also give you the chance to prepare your home without the abundance of snowfall that December usually brings. Don’t forget to check out the new curb appeal tips that surface in 2015 in order to prepare your home for your sale!
If you’re a seller in a particularly affordable market, which also happens to have an improving economy, you’re most likely going to receive a lot of traffic from buyers. Although it is a sellers market almost everywhere, you’ll be especially prosperous if these two factors are playing in your favor in 2015.
If 2014 let you down when it came to your home sale, 2015 could be your year to pull it off! Don’t be discouraged by past fails or struggles – 2015 is your year!
Written by Julie Dolan for www.RealtyTimes.com Copyright © 2015 Realty Times All Rights Reserved.