5 Reasons To Sell Your Parkland Florida Home Now

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5 Reasons To Sell Your Parkland Florida Home Now

5-reasons-to-sell-your-parkland-fl-home

If you been pondering the thought of making a move in the next year, now could be the best time to list and sell your Parkland or South Florida real estate home rather than waiting another year or more.  Below, please find Parkland real estate expert Michael Citron’s five reasons to consider selling now:

  1. Ideal Time For Home Exposure: The spring and summer months are typically the best time for buyers looking to purchase a home before the next school year begins.  With the surge of buyer activity, your home will get the best exposure and ultimately offers from motivated buyers ready to pay top market dollar for your home!
  2. Competing South Florida Short Sale & Foreclosure Listings: There are less homeowners defaulting on their mortgage payments, which is a good thing.  But, the bad news is that there is a large inventory of shadow foreclosure and short sale listings that will be coming on the market in the next 6 months.  As a result, if you list now instead of later this year, you will have less distressed home listings competing against you.  These distressed properties typically sell for 20-30% less than market value.
  3. 6 Months Of Increased Mortgage Interest Rates: Currently, interest rates are again under 5%.  However, an increase of 1/2% has occurred in the past six months.  With every 1/4% increase in interest rates, approximately 250,000 buyers are unable to qualify for mortgages.  As a result, there will be fewer buyers in the near future, as well as a higher mortgage payment for you when you sell and then look to buy a new home.
  4. Continued Decrease In South Florida Home Values: Last week, the Sun-Sentinel reported that real estate experts strongly believe that Broward County home prices will fall by 12% by the end of 2011 and then another 8% by the end of 2012.  Even with home prices expected to decrease in the coming months and years, you are still better off selling now, as mortgage interest rates will significantly increase causing the cost of your new home payments to rise!  My article: Is Now The Best Time To Purchase A Home In Parkland Florida explains that even if prices fall another 10% by the end of 2011, your monthly mortgage payment on your new home will increase, if interest rates rise by more than 1% this year.  We are telling our clients not to worry as much as to where prices may go and instead be more concerned with where mortgage interest rates will climb to later this year.
  5. Get On With Your Life: The last and certainly the most important reason to sell now is the opportunity to move on with your life.  Are you an empty-nester looking to downsize or thinking about moving out to the country?  The important thing to remember is not to allow a less-than-stellar real estate market to prevent you and your family from achieving your goals and dreams.  Moving on to bigger and better things may be worth more than a mere dollar figure.   Question you should ask your family: Is the dollar difference in sales price worth putting off our plans?   Only you and your family can answer that question.

Bottom Line: Time is of the essence!  Sell your home today and allow more qualified buyers through your door.  You will then be able to receive a better mortgage interest rate on your future home.

Know the neighborhood.  Know the value.  Know your hometown agents.  The Parkland Parrot Real Estate Team.  If you are interested in buying in Parkland or South Florida and are looking for experienced local Realtors, please do not hesitate to contact the Squawk at 954-609-0591 or send us a message here.

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