Five Reasons You Should Sell Your House TODAY!

Selling your house in today’s market can be extremely difficult.  It is for that reason that every seller should take advantage of each and every opportunity that appears.  Each fall, such an opportunity presents itself.  This fall, that opportunity may be just too good to pass up.

Below are five reasons you should consider pricing your house to sell in the next 90 days.  Meet with your real estate agent and mortgage professional today and see whether it is the right move for you and your family.

1. Entering this time of year, the buyers are more serious.

We all realize that buyers are not quick to pull the trigger on the purchase of a home today.  There is no sense of urgency with the supply of eligible properties at all time highs.  However, at this time of year, the ‘lookers’ are at the stores doing their holiday shopping.  The home buyers left in the market are serious and are more apt to make a purchasing decision.  Less showings – but to more motivated purchasers.

2. If you are moving up, you can save thousands.

The Chicago Tribune stated in an article last week that sellers who want to ‘trade up’ should act now:

It could be a bigger house, different neighborhood or a better school district, but it comes with a higher price tag. Do the math; this might be the right time.

A home that was once worth $300,000 may now be worth $240,000 in a market where prices have fallen 20 percent.  Wow, you think, the seller is taking a bath.  But that seller may also be a prospective buyer who wants a house that once was valued at $400,000. With an equivalent market drop and a realistic listing price, that house may now sell for $320,000.  So, in effect, the person is losing $60,000 on the sale of one home but coming out ahead $20,000 on the purchase of another.

Keep in mind the spread may be even greater.  There’s a smaller pool of potential buyers for more expensive homes, so sellers may be more willing to cut their price to get a deal done.

3. Interest rates just fell again – to 4.19%.

Professor Karl E. Case, the founder of the Case Shiller Pricing Index in an article in the New York Times last month actually did the math for us:

Four years ago, the monthly payment on a $300,000 house with 20 percent down and a mortgage rate of about 6.6 percent was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20 percent down would carry a rate of about 4.2 percent and a monthly payment of $833 … housing has perhaps never been a better bargain.

4. You beat the rush of inventory that is coming next year.

Every year there is an increase of inventory which comes to market from January through April as homeowners put their houses up for sale in preparation for the spring market. As an example, here is the number of listings available for sale in each of those months in 2010.

-  January – 3,277,000

-  February – 3,531,000

-  March – 3,626,000

-  April – 4,029,000

You won’t have to worry about this increasing competition if you sell now.

5. You have less ‘discounted’ inventory with which to compete.

This year, sellers of non-distressed properties have been given an early holiday present. With banks declaring a suspension on the sale of many distressed properties (foreclosures), there has been a large supply of discounted properties removed from competition.  No one knows how long this self imposed moratorium will last.  However, while it does, every homeowner has a better chance of selling their property.

Bottom Line

If you are looking to sell in the near future, there may not be a more opportune time than this fall. Serious buyers, great move-up deals and less competition from foreclosures creates the perfect selling situation. Don’t miss it!

Please be sure to mark your calendars and invite friends to this month’s Charity Tuesday event, which will be held on August 25th at the Old Brogue in Great Falls. While we normally begin at 7:00, we are going to try to move the event to 6:30 this time. You are more than welcome to come later or arrive earlier; just be sure to make a reservation and mention Bob Nelson or Charity Tuesday when you call.

I hope to more than double our contributions for this month’s organization - Our Military Kids. OMK provides tangible support to children of deployed National Guard and Reserve personnel as well as to children of severely injured service members through grants for enrichment activities and tutoring. Such activities help these children cope with the stress of having a parent in a war zone or recovering from injury at home. Our Military Kids grants are made to honor the sacrifices that military families make and to ensure that their children have access to sports, fine arts, or academic tutoring programs. I have attached a flyer for OMK and for the event. Please feel free to post these at your office or distribute them as you see fit.

For those of you who have yet to attend an event, you simply come enjoy dinner at the Old Brogue in Great Falls. The charitable contribution match is made by the Bob Nelson Team and our co-sponsors. This contribution has now reached a 70 percent match of your dinner tab. So please come and eat hardy. In addition to enjoying the great food of the Old Brogue, you will also be eligible for door prizes by simply attending. Bring the coupon to be included in the drawings (Click Here For Coupon).

The Brogue has asked that you be sure to make a reservation. Last month we nearly filled the restaurant, and the Brogue wants to be sure to have sufficient staff on hand to maintain the best level of service for everyone who attends. When making your reservation, mention that you are there for Bob Nelson’s event to insure that you are included in the finally tally.

Thanks so much to our co-sponsors:

The Old Brogue
Danny Ott – Wells Fargo Home Mortgage
James Gaudiosi – Wells Fargo Home Mortgage
Chris Melnick – LSA Title Services
Mike Muehr – Merrill Lynch
Gary Kaihara, DDS

and to those who have donated door prizes

PF Changs
Elite Fitness
Dominion Title
Carrabbas
Morton’s Steakhouse
McCormick and Schmick’s
Toll Brothers Homes

I encourage anyone with a little vision to come on by my open house this Sunday, April 26th from 1:00 – 4:00 to take a look at my listing located at 807 Clear Spring Rd. in Great Falls.  Simply click on the link to see additional details about this fabulous opportunity.

Hope to see you there!

Below is a guest blog from Nikki Ryan who will be holding an Open House this Sunday at my son’s townhouse in Reston.  Come on by to meet Nikki and enjoy the home.

I am holding open a beautifully decorated townhouse at 11742 Great Owl Circle in North Reston this Sunday April 26th from 1-4pm.  Please stop by.  This townhouse has so many updates and shows beautifully!  Main level updates include: new hardwood floors, new appliances, ceiling fan and granite in the kitchen, and new light fixtures. the master bath has been updated.  You will find brand new carpet on the upper two levels, a fully updated master bathroom, new light fixtures and ceiling fan. 

I have previewed all of the competition and this townhouse shows the best of the currently listed properties in this price range.  Come by and have a look on Sunday.  Call me for more information 703-615-2663 or visit www.greatowlcircle.com

This property is listed for sale with Keller Williams Realty, by Bob Nelson.

 

Keller Williams Realty

703-615-2663 cell

703-542-0914 fax

www.nikkiryan.com

 oh, by the way… if you know of someone who would appreciate the level of service I provide, please call with their business number and I’ll be happy to follow up and take great care of them.

We’re doing another open house on Sunday (4/19/09) at 11742 Great Owl Circle, Reston.  We’ve also pulled together a bunch of pictures of the first floor of the house into what’s called a PhotoSynth.  A Photosynth is a unique way to do a three-dimensional tour of the house using standard pictures.  It seems a little clunky at first, but once you’ve played around with it a little bit its a unique way to navigate photos.  Let me know what you think in the comments.

If still available, my newest listing located at 11742 Great Owl Circle in Reston will be open this Sunday.  You’ll love the convenience offered by North Reston’s highly desirable Ridgewood Cluster.  With over 2,400 square feet of living space, this four level, three bedroom, 3.5 bath home provides ready access to Metro Bus and the inumerable amenities offered by Reston.  Recent upgrades in this move-in ready townhome include: granite countertops and tile backsplash; hardwood floors on the main level; new carpet in the three upper level bedrooms and the fourth level loft; a fully renovated master bathroom; and much more.   The completely finished lower level includes an oversized recreation room/family room with fireplace and walkout to Reston’s extensive hiking trails.  Take the short walk to North Point Shopping Center and visit Starbucks, Baskin Robbins, or Mama Lucia’s Italian restaurant.  Reston Town Center is also just a short bike ride away.  With a sale two weeks ago of a unit three doors away at $506,000, this townhouse is a steal at $489,900.

View Larger Map