January is thought by a lot of people as a tough time to hit the real estate market. After all, isn’t there snow and ice to deal with? Who wants to move in the winter anyway?
But the fact is, January often sets the tone for the rest of the year. And we know Colorado Springs can get some pretty mild weather any time of year. So here are a few things to keep in mind if you ARE thinking about selling and why now may be the best time.
- As of this writing, there are fewer than 2600 single family homes for sale in Colorado Springs. This is the lowest point in 15 years. December sales were up 28.3% over the prior year, which is setting the stage for some shortages, especially in the segment under $300,000.
- Interest rates are at historic lows but are projected to rise this year. Sellers who hit the market now are going to be working with buyers who have more buying power than after rates rise.
- Many people assess their housing needs over the holidays when the extended family often gathers. Offering your home for sale now may take advantage of the conversations that took place.
- People are feeling very good about filling up their tank for half of what it cost about six months ago. Potential buyers are more likely to buy houses when they feel good.
- The improving economy and increase in jobs allow many to feel more comfortable getting married and having kids again. Likewise, they feel more comfortable buying a home for their expanding family.
- Tax season is fast approaching, and taxes are rising. Therefore this will be a good year for taxpayers to take advantage of the best tax deduction left in the IRS code. This will be true for 1st time home buyers, ‘rebound’ home buyers, as well as move-up or move-down home buyers.
If you are thinking of selling your Colorado Springs home, please call Rick Van Wieren at 719-331-7675 or email firstname.lastname@example.org and let’s discuss your options!