Five Compelling Reasons for Selling Today

I don't think I am "going out on a limb" by saying that trying to sell your home in today's market is not without its challenges. However, with every challenge, comes opportunity, if you look carefully enough. There are some great reasons to take advantage of the current market conditions that exist at this time of the year. And list your home now.

Below I have outlined why you should be early to the "spring market" and list now and not a few months from now as is the traditional wisdom.

1) Supply and Demand. Early in the year has traditionally provided less competition for sellers as the supply of homes on the market is lower than the supply of homes for sale in the late spring. See the numbers below for Plymouth County from the first four months of 2010. With less supply, you have less competition to sell against.

• January 1, 2010 2086 single family homes for sale in Plymouth County
• February 1, 2010 2239 single family homes for sale in Plymouth County
• March 1, 2010 2479 single family homes for sale in Plymouth County
• April 1, 2010 2797 single family homes for sale in Plymouth County

2) Serious Buyers are looking at this time of the year. The first quarter generally brings buyers who have a need to purchase. These buyers are not usually out looking for what is on the market in these cooler months. You will find you have fewer showings, but more qualified buyers.

3) Interest rates. Pay attention here, as rates are still low but have moved up from their historic lows, and many pundits don't foresee rates going anywhere but up as the economy and employment situation improves. Take advantage of the lower rates now, as either a buyer or a seller.

4) Do the "Move Up Math". If you are considering moving up to a larger home, or a more expensive home the time is now. Yes, you may sell your home at a price lower than you choose to in this environment, but you will also buy the more expensive one cheaper. In the end you will benefit, and here is why. If you sold your home for a hypothetical dollar, and purchased the new one for a hypothetical $1.50, which would your rather own after an increase by 10% in the coming years? You will see a larger gain on the $1.50's worth of assets, versus the lone dollar of assets.

5) Currently there is less competition from the Bank Owned Market. Typically the properties that have been foreclosed upon are marketed at below market prices as the lenders try to liquidate the properties to recapture the money they have tied up in the properties they own. This creates some discounted supply for you, the seller, to have to compete with when selling your home. The reason there is a temporary lack of supply has to do with a stalling for the foreclosure process that currently exists. The reason for the stalling of the foreclosure is a blog post in and of itself. Nonetheless, while this supply is not on the market, it behooves sellers to be ahead of this supply, not behind it.

In the end, there are some good reasons, to sell now versus waiting a few months. This is true from the cost of money via interest rates, to the amount of supply creating less competition.