Why 2020 Is The Perfect Time To Sell Your Silicon Valley Home

Mar 2, 2020Homes Selling

Have you been considering selling your home in Silicon Valley, but you’re just not sure that it’s the right timing? 

Some hesitancy is understandable – after all, if you choose to take the plunge you want to ensure you’ll be able to sell quickly and for a good price.

 Luckily for you, 2020 is an excellent time to put your home on the market.

Keller Williams Realty recently states that,

Sellers may not want to wait to put their houses on the market. With demand so high and supply so low, now is the perfect time to sell your house for the greatest dollar value and the least hassle.”

The 2020 housing market truly is in great shape, so now is the time to sell!

Here are seven reasons to put your house on the market in 2020:

1. The Economy Is On Your Side 

As we all know the economy goes up and down often.

Thankfully right now the economy is in a great state, and that’s good if you’re considering selling your home. 

2. Interest Rates Are Expected to Stay Low

Along with the good economy, interest rates are expected to stay low making it easier for your buyer to get the financing they may need to buy your house.

This will also be helpful for you if you are planning on buying a new home after your house sells.

3. You May Have High Equity

US News says

“If you’ve been in your home for more than a couple of years, you’ve been building equity as the property value increases and you make consistent mortgage payments. 

The more equity you have in your home, the more profit you’ll likely see when you sell the property. 

That, in turn, can be used for a larger down payment on your next house, other expenses or savings.” 

It’s a great idea to have your home equity checked and see where the value is at. If it’s high, selling now could be a great investment to your future.

4. New Buyers Are Entering The Market 

More and more people are beginning to search the market for their first house. 

During some years a lack of buyers can be a major problem, but in 2020 people are still searching the market for their dream home.

Many millennials are now at the age where they are ready to purchase their first home, and they currently make up a large percentage of the buyers market.

By putting your home on the market this year, it’s very likely it will be quickly snatched up for a good price from someone who has been waiting for their dream home to hit the market.

5. There’s A Low Housing Inventory

As Homelight says, 

“The inventory shortage lives on. There are still more buyers out there looking for homes than there are homes available to buy, and that means you hold a lot of cards as a seller in 2020.”

Currently, there is a large gap between the amount of people looking to purchase a home, and the amount of homes available on the market which puts things in your favor if you’re considering selling. 

6. There’s A Slow Production Of Single Family Homes 

For various reasons including zoning laws, lack of commercial land, and a lack of skilled carpenters compared to previous years, not many single-family homes are being built right now.

This may seem like an issue, but for you the seller, it is just adding to the worth of your house.  

A lack of available single-family houses may mean more of a demand for a home like yours. 

7. You Never Know What 2021 Will Be Like

Yes, 2020 is a good year to sell, but things change fast and there’s no way to predict with certainty how the housing market will look in 2021. 

By waiting to list your home next year, you take a risk that the housing market will have changed. 

In addition to these reasons, the Spring season gives it’s only little incentives to sell your home now. 

Buyers are traditionally more active in the Spring season, which naturally means homes can sell at higher prices. 

Spring is also a great time to clean up the yard, add some beautiful landscaping, and show off your curb appeal.

With all of this in mind, it’s easy to see why at Bluefin we believe that you have plenty of reason to put your for sale sign up now, and reap the benefits of the current housing market. 

Click here to contact Bluefin Realty and let us help you sell your Silicon Valley home!