With Only 11% Distressed Sales on the Market – Now’s the Perfect Time To Sell

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Two of most frequently asked questions by my clients and potential clients are about short sales and foreclosures plus whether or not it is a good time to sell right now at the cusp of the Fall season.

Distressed Sales Do Not Dominate the Selling Market

Contrary to what the media would have you believe, short sales and foreclosures do not currently dominate the market in the Grand Strand.  Rather, there are just about 11% of single-family homes on the market that are distressed sales.  Equally for condos, the number stands at about 10.5%.

Of 4,543 single-family homes listed for sale, only 529 are either short sales or foreclosures.  Condominiums on the market are 4,268 of which 448 are short sales or foreclosures.  It is a common misconception that the market is dominated by distressed sales, thus on a small level hindering market recovery since buyer and seller confidence suffers with this misinformation.

Why Selling Right Now Makes Good Sense

Many homeowners shy away from putting their home on the market to sell during times other than peak selling seasons.  Despite the common misconception sales do occur in the fall and winter seasons.  In fact, with interest rates the way they are these days and qualified buyers eager to avail low interest rate opportunities it is a great time to sell.  Not only that, there are not too many homes on the market right now which means that more buyers have less homes to choose from.  The selling edge gained from listing your home in this season is fairly significant.

Keep in mind that just six months ago in April as we were entering the peak selling season, inventory was only 10% more than it is right now in both single-family homes and condos.

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This is a wonderful time to sell a home and if you can put it on the market soon I strongly encourage you to do it now.  Who knows how long the interest rates will be so low and there is no telling how much longer it will be before lenders tighten up lending practices even more.  One thing is certain – if you have the right agent working for you who helps you to price your property accurately and uses the right marketing strategy you will sell you home!