No Matter Which Groundhog You Listen To, You Should Sell Before Spring!

JOHN RICE ASSOCIATE BROKER | REALTOR

No Matter Which Groundhog You Listen To, You Should Sell Before Spring!
No Matter Which Groundhog You Listen to, You Should Sell Before Spring! | Simplifying The Market

Is spring closer than we think? Depending on which Groundhog you witnessed today, you may have less time than you think to get your home on the market before the busy spring season.

Many sellers feel that the spring is the best time to place their home on the market as buyer demand traditionally increases at that time of year. However, the next six weeks before spring hits also have their own advantages.

Here are five reasons to sell now.

1. Demand is Strong

Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that buyers are still out in force looking for their dream home. These buyers are ready, willing and able to buy…and are in the market right now!

Take advantage of the strong buyer activity currently in the market. 

2. There Is Less Competition Now

Housing supply just dropped to 3.9 months, which is well under the 6 months’ supply that is needed for a normal housing market. This means, in many areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last three years. Many of these homes will be coming to the market in the near future.

Also, new construction of single-family homes is again beginning to increase. A study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will increase in the spring. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

One of the biggest challenges of the housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. There is less overall business done in the winter. Therefore, the process will be less onerous than it will be in the spring. Getting your house sold and closed before the spring delays begin will lend itself to a smoother transaction.

4. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next 12 months according to CoreLogic. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to rise by three-quarters of a percent by the end of 2016.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.


Source: Michigan Real Estate News, John Rice Realtor Latest Real Estate News

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A few words from our clients:
It was a wonderful experience working with John. His professionalism, honesty, experience, and knowledge of the Grand Rapids market, helped us in multiple ways. John sold our home in one day, was honest about what we could expect from offers, and was spot on. As we progressed toward finding our new home, again, he was extremely knowledgeable about the neighborhoods, home values, and history of the homes. We are more than happy to say, that he helped us find our dream home within our budget! Anything I needed, he was there through emails, texts, or phone calls. He definitely put in a lot of work for us. Without a doubt, I will ask for his assistance again when the time comes. Thank you John!
T&A Lascari
We can’t say enough good things about John. He is an awesome realtor! We bought our home with his help and just recently sold it with his help. He is highly knowledgeable about the Grand Rapids area market and his expertise and professionalism has shown through both times we worked with him...John is a wonderful communicator and a genuine person. His sincerity has been evident in his commitment to making the purchase and sale experience as seamless and informed as possible. We consider ourselves incredibly fortunate to have worked with John and strongly recommend him without reservation!
E&T VanBuskirk
John helped us sell our house when we moved out of Grand Rapids 3 years ago and recently helped us purchase a new house when we moved back. He is very professional and knowledgeable of the area and market. I would recommend him to anyone looking to buy or sell.
S&K Weber
John Rice is hands down one of the best realtors in the Grand Rapids and surrounding areas. We have utilized him as our realtor on two separate occasions, once over 10 years ago, and again over the last several months to buy/sell. He is incredibly knowledgeable and uses his expertise to help guide you in your choices throughout the realty process. He is professional, kind, has impeccable attention to detail, responsive, and clearly loves what he does. Choose John for your realty needs…he is the best of the best!
Amanda W
We have worked with John multiple times now, both buying and selling homes. We 100% recommend him and he’ll always be our go-to realtor for any future real estate needs. John is experienced in the industry and well-known and respected. He is extremely professional and knowledgeable, on top of being an all-around nice guy. He is responsive and answered all of our questions along the way. We asked John for several referrals for other services (lender, cleaner, etc.) and we were very happy with all his suggestions. John is honest and will listen to your concerns/opinions. He is never pushy, but gives great advice based on his years of experience. We are so thankful for the guidance we received from John to make our recent home buying and selling experience successful and quick! If you need a realtor, call John.
G&E Webb
We have worked with John to sell 1 home and buy 2 homes and he is an incredible realtor! He is professional, prompt with communication, honest and patient. We had quite the list for what we were looking for and John was always available to answer questions and get us in to look at a home. His knowledge and connections in the industry made both the buying and selling process go smoothly. We simply cannot recommend John enough!
Chase and Nicole O
Purchased and sold with John, he is: Professional, an extremely good communicator, precise, and acted on our behalf 24/7. He kept us up to date on listings for purchase and preparation advice for selling our home. He was knowledgeable about neighborhoods. Photography for sale of our house was impressive. We were appreciative of the guidance regarding making offers, inspections, when to list our home, writing contracts, detailed review and presentation of offers on our home and being realistic about our purchase of new home. Great experience, Great Realtor.
J&G Junod
We moved to the Grand Rapids area 11 years ago and John was very patient as we found our first home and made the experience absolutely seamless! When we were ready to sell and buy again we knew to reach out to John. As we remembered and appreciated, John is an absolute professional and was and advocate for our best interests at all times during this wild market. We found great value in our new home and he helped us get top dollar for our sale. Grateful to have him on our side though the whole process. You won’t be disappointed!
Lance W