Why You Should Sell Your Property in 2022

Are you wondering if it’s the best time to sell your home or property this year? Whether you plan to relocate, move to a smaller or bigger house, increase your income, cut costs, want to move on from a divorce, or stop foreclosure, you’ve come to the right place. We’ll discuss why it would be a great idea to sell your home or any other type of property in 2022.

 

5 Reasons to Sell Your Property in 2022:

Here are three main reasons why it’s best to sell your home or property this year:

 

1. There’s good buyer demand.

Even though prices aren’t expected to climb as high or as fast as it did in 2021, buyer demand could remain strong and won’t likely to disappear in 2022. A recent Pending Home Sales Index by the National Association of Realtors (NAR) shows that “homes placed on the market for sale go from ‘listed status’ to ‘under contract’ in approximately 18 days,” so be prepared for a quick sale.

Also, The ShowingTime Showing Index reports that over six million property visits are scheduled across the U.S. on a monthly basis. This means that there’s a regular stream of people who want to buy real estate properties, so why not offer them something and earn at the same time?

 

2. Home prices may increase because of low competition.

The law of supply and demand tells us that prices of supplies increase when there’s a strong demand and less competition. 2021 was a year with many eager real estate buyers but only a few homes were available on the market. This contributed to the rise of home prices, which was actually a good thing for active home sellers. This is most likely to continue in 2022.

You can take advantage of the demand without overpricing though as it is predicted by industry experts to see more of the inflated properties sitting around on the market as compared to reasonably-priced ones. According to a real estate article in U.S. News, homes at entry-level prices, mostly purchased by first-time homebuyers, are likely to see plenty of buyer activity in 2022.

Pro Tip: To get ahead of the competition, listing before the winter would be beneficial. A study conducted by realtor.com reveals that many home sellers in the U.S. plan to list their homes in winter instead of waiting until summer or spring. Meanwhile, 19% of sellers have already listed their homes. On the other hand, newly constructed homes could be your competition during spring. There were over 979,000 new single-family housing units authorized with building permits which will be completed in 2022.

 

3. Interest rates are expected to climb.

The mortgage interest rates have remained low because of the COVID-19 pandemic, but it’s predicted to somewhat rise in 2022, largely to combat inflation as per the Federal Reserve. Mortgage interest rates may average around 3.3% throughout the year, and rise to 3.6% by the end of 2022. Although this may seem like bad news for home sellers because homebuyers may notice the increase in mortgage computations and refuse to buy because of it, the interest rates can still be considered low as compared to previous decades.

There are other speculations that the Fed could wait until 2023 before increasing interest rates. This could be a good selling point since homebuyers can avoid higher interest rates in 2023 if they buy a property this year.

 

4. More serious buyers are looking out for homes this year.

As experts say, individuals who are willing to look for homes in a winter market, especially when there are fewer options available, are usually more serious. Considering the COVID-19 pandemic, only those who are serious about buying a home or property will be in the market, which means there could be a higher rate of closed sales upon scheduling house or property visits.

 

5. It’s a good time to move or start anew.

If you’ve been planning to relocate to a new state, transfer into a smaller space, or buy and move into a larger home, consider doing it this year and use the money from the home or property you sold for the down payment, paperwork,  and move-in fees. Prices of homes are expected to increase by around 5% after a year which means you’ll end up paying more if you keep waiting.

 

Helpful Notes in Selling Your Home

Ready to list your home for sale? Here are several points that can help with a smooth home selling journey:

 

• Research about the market.

 This can help you set reasonable expectations, how to price your home or property, and also learn more about what captures the interest of your target market.

 

• Be sure that all the necessary documents are ready.

These usually include but are not limited to the reservation letter, contract to sell, letter of guarantee, deed of absolute sale, and certificate title.

 

• Showcase the home or property in its best light.

Take quality photos of the property to attract buyers. Be sure to declutter and clean the home. Stage your home and make it look its best. Add in a few furniture or fixtures that can highlight its space. Reorganize, and redecorate as much as possible.

 

• Stay committed and be patient.

Whether you experience buyers scheduling property showing and not responding to you afterward, or you don’t receive inquiries right away, do not be discouraged. Selling a home takes patience and commitment. Just stay optimistic and just proactively attract leads, whether by listing with a real estate agent, posting on social media, advertising on real estate sites, asking for recommendations from your network, cold calling, etc.

 

Sell Your Home to Shorefront Investments

If you’re keen on selling your home this year, you can reach out to us as we buy houses in any condition and location. We close deals within one to two weeks and provide a real cash offer within 24 hours. You just have to fill out a form to get a cash offer – no fees or commissions involved.