Why Spring Listings Blossom
This Spring, many of The Creig Northrop Team of Long & Foster’s listings have been “Staged to Sell,” as we like to say, meaning everything inside and outside the home has been perfectly appointed to appeal to the widest array of buyers. “We understand if you don't stand out from the other houses on the market, buyers will move on to the next house," says Creig Northrop. “A lot of our stager’s ideas are inexpensive fixes that have a huge effect on market appeal. By the time we have finished staging, many clients find it hard to leave their homes.” It helps that nature is in full bloom in our area as well. From beautiful lawns to temperate weather, it’s prime time to lure in buyers.
Are you a seller who will be looking to buy? Today’s market conditions make for a great time to buy and either move up or downsize.
Pending home sales increased in March and are well above a year ago, according to the National Association of Realtors. NAR’s pending home sales index, a forward-looking indicator based on contract signings, rose 4.1% to 101.4 in March from an upwardly revised 97.4 in February. It is 12.8% above March 2011 when it was 89.9. The index is now at the highest level since April 2010 when it reached 111.3. NAR President Moe Veissi believes there are more opportunities in today’s market. “Historically favorable housing affordability conditions are making it easier for buyers to enter the market despite the unnecessarily tight credit conditions,” he says. “Housing supply and demand are roughly balanced with overall housing supply at the lowest level in six years, putting sellers on an even footing with buyers in most markets.”
Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing. “The housing market has clearly turned the corner,” Yun said. “Rising sales are bringing down inventory and creating much more balanced conditions ... which means home prices will be rising in more areas as the year progresses.”
Keep in mind most families prefer to pack up kids when school is taking a break. That means they want to move during the Summer months. What does this mean for sellers? It means families are looking to buy in the Spring. This gives them plenty of time to look at homes and then go to closing, which can take from a few weeks to over a month. Springtime is full of new growth opportunities. So, stop and smell the roses ... and list that home for sale!
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