If you are thinking about selling your house in the Delray Beach area or beyond, this year is the right one to do so. Today’s buyers have been exhausted by the South Florida housing market of the past years and are subsequently looking to buy. But know this- if you want to unload your house rapidly- and for the best price- the window of opportune time is growing thinner and thinner. Here, we give you an idea of the current South Florida housing market and why it’s time to sell your house in the Delray Beach area.
30 Year Mortgage Rates Are Historically Low
By historical standards, the 30-year mortgage rates offered today (about 4 percent or just above) are incredibly low. This provides a huge incentive for buyers to invest in the real estate market in South Florida and beyond. Furthermore, real estate experts are in agreement that mortgage credit should remain at this low rate. However, mortgage rates are expected to remain low for the following year. Beyond 2018, no one is sure what the market will entail- which again highlights the importance of selling your house in South Florida in 2018. Buyers are looking to invest now, and if you’re smart, you’ll list your home this year- before any kind of hikes in rates begin. Lastly, if you are buying a house after you sell your South Florida home, you will benefit from the low mortgage rates as well.
There Are More Buyers Than Homes
Currently, especially in popular markets like the South Florida area, the inventory of homes remains tight. However, due to low mortgage rates, a strong economy and other dynamics, buyers are still looking to invest more than ever. This creates the perfect scenario for homeowners looking to sell- supply is low, and demand is high. Even if you never took economics, you can probably understand that that’s a pretty sweet deal. And real estate agents are in agreement- Katie Griswold, a Realtor® with Pacific Sotheby’s, says “We’re in a very favorable seller’s market. We’re seeing bidding wars—which push up prices—and buyers are submitting offers with very pro-seller terms, like forgoing the repair request or waiving the appraisal contingency.” Moreover, Realtor.com predicts inventory will remain scarce, culminating in a 4% year-over-year decline in available housing.
Home Prices Are On The Rise
Across the country, home prices are still increasing, which means you are more likely to keep a larger amount of money after selling your house quick in Delray Beach. At the end of 2017, a 5.5 percent year-over-year increase was shown, and 2018 is expected to have a positive increase as well. However, the gains will start to become moderate, which again highlights the importance of selling your home fast in South Florida.
If you want to sell your house quickly in Delray Beach, look no further than FL Real Estate Buyers. FL Real Estate Buyers will look at your South Florida property and give you a fair cash offer on the spot. This gives you the best opportunity- and deal- to sell your house as is- and fast! If you want to take advantage of the current housing market, call FL Real Estate Buyers to set up an appointment today.