Real Estate Market February 26, 2013

Waiting for spring?

Contrary to the belief that spring is the “selling season” in real estate, industry experts say don’t wait – and give five reasons to list your house today. The law of supply and demand and forecast of inching up interest rates have brought an early spring to real estate.

At a recent Windermere event, industry expert Steve Harney further explained. He shared that move up buyers, ages 35 to 44, are itching for a bigger and better home. Forecast to keep housing on its upward track this year, they are anxious to step up from their starter home. They are looking for a larger home with plenty of amenities that are located in good school districts, like our Northshore School District. Real estate experts credit a better economic climate and low interest rates for motivating their buying power. About 36% of all buyers in late 2012 were 35 to 44, up from 30% at the start of 2009.

Harney also noted another group of anxious buyers: People who wanted to sell, or maybe tried to sell over the last five years, who now have the financial means to expand their choices. The trend is to “upsize” rather than downsize. Families grow and need more room as adult children, grandkids, and extended families live under the same roof.

Now, before spring is in full bloom, is a great time to benefit from these buyers who are out and looking. I’d be happy to provide you with an analysis to help you get the most from these market conditions, if you're considering a move.