March 19th, 2014 9:41 AM by Melanie Mitchell - Team Lead/Listing Specialist
If you're considering selling your home in 2014, now is the time to get ready. Not next month, not next week, not tomorrow, but right now.
Why? Because buyers are already on the hunt!
The Internet is the new curb appealLast month will likely be remembered for polar vortexes, widespread snow, and historic traffic jams. Lost in the shuffle is that while American's were sitting inside trying to stay warm, they were looking at houses for sale on the Internet.
Experian Marketing Services released its monthly most visited real estate website rankings earlier this week for web traffic in January. The results are eye popping.
Web traffic to real estate websites was up 25% from December
If you're considering selling and your home is not yet online, then every day you're missing out on hundreds of potential buyers viewing your home.
Even more incentive for buyersSpring is coming, and that is certainly driving a lot of the interest in homes currently listed for sale. But there are other factors at play.
Mortgage rates have declined over the past month and are currently trending back toward 4% for traditionally structured, well qualified loans. This is a significant development for buyers, as interest rates are a huge driver of home affordability.
For example, a traditional 30 year, $150,000 mortgage at 4.5% would have a monthly payment of $760. If rates declined to 4.25%, the payment would change to $738.
For borrowers on the edge of qualifying for a mortgage, that $22 per month savings could make the difference between getting a loan approval or not. Over the life of the loan, that 0.25% difference saves the borrower $7,963!With the lower interest rates your homes is more affordable now then it will be when interest rates rise making not the time to sell!