Real Estate: Thinking of selling? Why now is the time
If you are looking to sell right now you should not be worried. Although this is truly a buyer’s market, many home owners have successfully sold their property in this current market. Although buyers maybe looking for the “deal”; there are still many potential buyers that are looking for a turn-key type property that requires minimal repairs or rehabilitation.
There are several reasons why this is the right time to sell, if you are thinking about it. The first one is that this is the highest selling season of the year. There is a significant population that spend the winters on Fort Myers Beach in rental properties, and start to look for properties. Our office walk in traffic increases substantially between January and April. If you are going to put your home on the market it is best to do it when the population is at its peak with potential buyers.
The second main reason is the new tax credit has been extended by the Federal Government. This is an excellent incentive for potential buyers to make a move before the expiration, so the clock is ticking for anyone who wants to cash in on this tax benefit.
Another key reason it is a great time to put your home on the market is interest rates are still very low. I have seen 3.67 percent to 4.4 percent interest rates for a 30 year mortgage. This is a very good primer to get potential home buyers to make the purchase now. These interest rates are bound to go up so again, this is a situation where the potential home buyer is against the clock.
Traditional home sales are selling on Fort Myers Beach for a few reasons. First are the two things I always talk about, right price and marketing strategy. These two are key for getting any home sold anywhere and is more critical now in a buyer’s market. The second is the fact there are not too many distressed properties on the market which, gives limitations to potential home buyers finding that distressed property “deal” and it maintains the home value prices.
And finally it is all about location. Fort Myers Beach is a great place to have a second home or primary residence and those who have visited the area are very loyal. The “baby boomer” generation accounts for 28 percent of the population and will be retiring within the next 5 to 18 years. They also have 77 percent of all financial assets in America and will need to purchase a “winter home” or permanent place to retire.
If you are thinking about selling don’t let the current market scare you away. We are seeing movement in the traditional resale market. With a great marketing strategy and accurate precision pricing, you can minimize the days on market. Listing your property between January and April will provide the largest audience of potential home buyers.
Jason M. Jakus is a licensed realtor for Leisure American Realty, a full service Real Estate and Property Management company serving the beaches and surrounding areas of Lee County. Their office is located at 2450 Estero Blvd., Fort Myers Beach FL 33931. For more information on this or any other real estate or property management subject contact Jason at 239-463-3178 or email RealtyInfo@LeisureAmerican.com.