The seller’s market for New Jersey homes is expected to continue and could possibly even extend beyond that. The national house appreciation rate over the past 2 to 3 years has been between 5 and 6 per cent.
While it is a good thing, it would be wrong to assume that this trend will continue forever. If you would like to make the most of the current market conditions by selling.
Here are 5 reasons to sell house now New Jersey.
1. Historically Low Mortgage Interest Rates
Just a few years ago, the interest rates had dropped below 3.5 per cent for 30-year fixed-rate mortgages. Today, the rates are hovering at just over 4 per cent, which is still an excellent deal.
In the near future rates may average 5 per cent and will possibly continue rising. You can take advantage of these low-interest rates by selling now to Savannah Properties.
2. Tight Inventory, High Demand
If home inventory is tight but the demand is high, what typically happens is a bidding war for a home. A lot of cash buyers such as our company i.e. Savannah Properties are looking to buy.
The inventory is also expected to ease in the coming months, which means that your best shot at getting a premium price is to sell now.
3. Rising Home Prices
Home prices are continually rising, but the gains have started to level off as evidenced by the 3.2 per cent appreciation in 2018 compared to 5.5 per cent in 2017.
If you sell your house now to our company i.e. Savannah Properties you might give up a bit of profit, but selling later will definitely not be the same as selling now.
4. People Have More Income
Incomes in the United States continue rising as the unemployment rates stay close to 4 per cent. A lot of people will also start seeing more money from their take-home pay as the new tax legislation is implemented.
Consumer confidence is also quite strong and the combination here is all to the benefit of sellers.
5. Millennials Want to Buy Property
It is estimated that millennials will account for over 40 per cent of all mortgages this year. As the older portion of this demographic enters their 30s, they will start considering buying rather than renting.
It means that now or very soon, there will be many new buyers looking to buy homes, which is a good thing for sellers.
Want to Sell House Now New Jersey?
Now that you know why now is the time to sell your New Jersey house, it is time to think about the best way to sell it as quickly as possible.
Fortunately, we got you covered. ‘We’ are Savannah Properties and are your best bet when it comes to selling your house fast for cash.
At Savannah Properties, we aim to leave the homeowners that we work within a better position than we found them.
We treat all our clients and business associates fairly and respectfully.
If you are ready to sell your New Jersey house now for cash, get in touch with us now.