What Do Rising Interest Rates Mean for Birmingham Home Sellers?

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Late last year the Fed met and raised interest rates for the first time in years. It was a small increase, but what many people don't understand is that even small interest rate increases have a huge impact on affordability.

We're predicting interest rates to rise slowly over the course of 2016 as the market continues to stabilize. Inventory is down and home values will continue to rise. Additionally, on-the-fence buyers are going to enter the market in order to make a purchase before rates increase significantly.

It all comes down to supply and demand when it comes to the pricing of homes. We already have a low inventory, and we're expecting an influx of buyers trying to avoid high interest rates. This is a perfect storm for sellers in our area; your home's value will likely be at a premium in 2016! 

If you have any thoughts of selling your home this year, now is the time to start looking into the process. Give us a call or shoot us an email at any time so we can start talking about how much we can get for your home! We look forward to helping you take advantage of these fabulous conditions soon!

When Is the Best Time to Sell?

Selling your Birmingham home? Get a free home value report

Buying a Birmingham home? Search all homes for sale

Today I am excited to share with you a piece of wisdom I’ve learned throughout my years in real estate. People think you need to wait until spring to sell, but that is a myth in real estate. So is the myth that the only time you can get top dollar is in the spring. Here’s where that comes from.

It’s true that there are a lot of home buyers out in the market in the spring, looking to purchase homes and move in by the end of summer. However, after extensive market research, we have found that buyers are always buying homes. If you look at the market totals over a 12-month cumulative period, there is minimal decrease in activity month-over-month. It’s usually less than 1% in most months, which turns into maybe 50-70 buyers tops. 

In reality, we have had some of our best months during the holidays, because a lot of people are ready to buy at that time. If buyers are out looking at homes during the cold, dark winter months, they are serious and ready to make an offer if the right property comes along. 

If you are ready to sell, now is the time to list your home on the market and get top dollar. If you have any questions for us, or want to know more about how you can sell your home for top dollar, give us a call or send us an email. We look forward to hearing from you!