3 Reasons Why Fall is the Perfect Time to Sell

Hello, everyone! Welcome back to my video blog!

A lot of people have asked me lately whether fall is a good time to sell or if they should wait until next year to put their home on the market. Many of you may be surprised to learn fall is actually one of the best times to list your home. In fact, from September to the end of November of last year more than 400 homes were sold in Nevada County.

So, the answer is yes, fall is a great time to list your home, especially this year. Why? There is a shortage of inventory but a large buyer’s pool. The demand outweighs the supply, especially because many sellers choose to wait until spring.

Secondly, buyers have a sense of urgency because they want to purchase before the rising interest rates impact their buying power.

The third reason this fall is a great time to sell is because there are less foreclosures and short sales. This means less competition when selling your home!

If you are ready to sell your home, give me a call!

Thanks for watching!

Is the increase in interest rates affecting the real estate market for sellers and buyers?

Interest rates are affecting the market. They have increased about 1% over the last 12 months; however, I really don’t think interest rates are the only factor contributing to our change in the market.  Specifically the change has been that sales are down 18% between mid 2012 and mid 2013.

What are the other contributing factors?

The two other primary factors that are contributing to the slowing in the market place are:
1.    Lack of inventory: We are simply not seeing as many homes on the market and that is because the foreclosures and short sales have almost entirely disappeared, where two years ago it was almost 50% of our sales. However, the additional $40,000 in price reflects only an additional $23 per month in today's interest rates.
2.    Appreciation: Entry-level homes have gone up by about 20% in the last six months. Our average sales prices have risen from $249,000 to $289,000.

So when you analyze those three factors affecting the market, the lack of inventory is the most impacting. We simply have fewer homes to sell than ever before. As a matter of fact we have less inventory to sell than we have in the past 15 years. So, sellers we need you now!

So if you know someone who wants to sell, give me a call. I’d be happy to give you a free market analysis; you might be surprised how much your home is worth in today’s market.

Thanks for watching!

Market Inventory in Nevada County

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I have been getting a lot of questions about the market lately.

Inventory is 40% less than it was a year ago; last May there were 602 homes on the market, this May there were 357.

Another thing we look at is the absorption rate. This determines how long it would take for all the homes on the market to sell if no other homes came on. Last May that rate was 5.6 months; this May it was 2.5 months. 

The appreciation has increased as well. Again using last May, the average sales price in Nevada County was $249,000 versus this May’s $293,000. That’s a 17% percent increase in the appreciation rate. 

Now is the best time to sell your home. The low interest rates and great appreciation rate will not last. If you are interested in buying or selling your home call me at 530.273.0073 or send me an email at kurt@kurtcongdon.com.