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Sunday, May 13, 2018

CONFIDENCE HIGH ON HOUSING, BUT...


“High home prices and good economic conditions helped push the share of Americans who think it’s a good time to sell to a fresh record-high; however, the upward trend in the good-time-to-sell share seen since last spring has done little to release more for-sale inventory,” says Doug Duncan, chief economist and senior vice president at Fannie Mae.

We have been advising our clients and our readers that this is an ideal time to sell.  If you are planning to sell your home in the short term, don’t wait.  Take advantage of the low inventory and the high demand, especially in our North Fork marketplace, and especially during the next 2-3 months.  Remember it takes time to get your home in shape to sell.  Recently a client told me she did not realize how much had to be done and how much time needed to be invested to get the house ready for sale.
We have a team ready to help you get it done.  We will share our experienced and expert advice with you on how to get your home ready for sale AND we will help you do it! If that isn’t the best service you can get, I don’t know what is!

A word of caution... “the tightest supply in decades, combined with rising mortgage rates from historically low levels, will likely remain a hurdle for mobility and a persistent headwind for home sales,” says Duncan at Fannie Mae. 

We don’t know what next year will bring.  BUT we do know that in addition to rising prices due to low inventory and rising mortgage rates, the income tax changes will hit New Yorkers harder than most states,  the stock market is good today, but current volatility is unsettling for some.  With all this uncertainly, why not get in front of the curve, not behind the wave! Call us at 631 765 5333 or email me at marie@BeninatiAssociates.com, or even better, come in and sit down with us and let’s talk!


Sources: Fannie Mae’s National Housing Survey® (NHS); RISMedia e.News, May 9, 2018.

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