HONOLULU (HawaiiNewsNow) - Even with the holidays quickly approaching, it is a good time to put your home on the market. Tiffany Bove of Coldwell Banker Pacific Properties spelled out the reasons why on this morning's Real Estate of Mind. Check the video.. and her helpful notes below.
- Housing inventory is scarce. The number of homes available to purchase is extremely low. According to the Honolulu Board of Realtors' statistics dated September 30, 2011, the number of single family homes for sale in the market is only 1486 and there are only 1866 condominiums available to purchase. These levels are 14.6% and 19.3% less than a year ago. This means that buyers will more likely consider your home now than if there were many homes on the market.
- Low interest rates mean that more people can qualify to purchase your home. When rates go up, your pool of qualified buyers will go down. Each 1% increase in interest rate equals 10% less home a person can afford.
- Serious buyers are out there. Homes that are priced well are often moving very fast and with multiple offers, sometimes over the asking price.
- During the holidays, homes are particularly warm and inviting and therefore show better than they would at other times of the year.
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