Tuesday, May 13, 2014

A Few Reasons to Sell Your Crow Wing County Home This Spring

Many would be sellers here in Crow Wing County and across the nation are still hesitant to put their homes up for sale on the market.  Concerns about where interest rates and prices are headed are strong on many buyer and sellers minds. Here are a few reasons why this spring is the right time to put your Crow Wing County home up for sell.

Demand- Generally the housing market is the hottest from April through June, and serious home buyers are aware of this, and that is why they tend to start looking for homes in early spring to beat the competition. The demand for homes is about to skyrocket.  Many buyers also pushed off their home search this past winter due to the extreme conditions we experienced, and they are now ready to buy. There are buyers ready to buy right now but with the limited supply of homes on the market they are finding it difficult to find a home.

Competition-Typically housing supply increases from spring into early summer.  Also, many home owners who were underwater on their home are no longer and are ready to move. Many of these homes will be hitting the market soon increasing the competition for sellers.  Many predict over the next few months the choices buyers have in homes will continue to increase.  Do not wait until all those other potential sellers place their home up for sale, beat the competition.

Move-Up- If moving up to a larger more expensive home is in your future you may want to make the move now. Home prices are projected to increase by nearly 4% this year and up to 8% by the end of 2015.  Moving to a higher priced home will cost you more both in a down payment and mortgage payments.  Interest rates are still relatively low right now but Freddie Mac is projecting them to increase to near 5.7% by the fourth quarter of 2015.

If you are looking to buy or sell a home in Crow Wing County this spring, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156