Prudential Real Estate, an HSF Affiliates LLC real estate brokerage network, released the results of its first quarter Consumer Outlook Survey indicating that consumers’ perception of the residential real estate market is increasingly positive. Nearly 70% of consumers surveyed said they were more committed to buying or selling a home now, a 6-point increase from the year-end study in 2013.
With that outlook we wanted to site the top 5 reasons why you might want to consider selling your Los Gatos, San Jose, Campbell or Saratoga home this summer. And they are:
1) No competition: There is very little or no active inventory in the market at this point that could put pressure on the amount of money you could net from your sale.
2) Strong Demand: In most markets of Silicon Valley our buyers are competing on home that are getting multiple offers despite their conditions. A home with cracked hardwood floors and poor condition just fetched 10 offers in one weekend in Los Gatos.
3) Quicker Sales: Home are only staying in the market for less than 2 weeks before they are under contract. In fact, 36% of the homes sold in Santa Clara county in the last 90 days were cash buyers who closed in less than 30 days. So, you will close your home sale much faster as result of the huge demand.
4) Move up or Move away: If you have the option to move up and buyer bigger home or move to a better school district, this might be the opportunity to do it before the rates rise much higher. And for senior sellers, this might be an opportunity to cash out and move the proceeds to travel and enjoy life. There might also be much cheaper places to retire than Silicon Valley.
5) Go fishing: It might be time to take some money off the table and go fishing for a while. The real estate market is getting frothy again and no one knows if we don’t have another crash on the horizon. So, why not reduce your real estate exposure and cash out of some real estate holdings while the market is still hot.
What do you think ?