Read my 5 reasons to sell your Ocala FL
Are you contemplating selling your property in Ocala Florida? Well, you need to because this is the best time to sell as opposed to 2017 or even later. For about 5 years, the property prices and indeed the entire real estate market have been bullish. Following the last economic downturn, the real estate market has recovered and presented people with property to sell now. In this post, we explore the reasons why Fred Franks thinks it’s the best time to sell your property in Ocala.
Ocala Housing prices are at an all-time high
When home owners in Ocala looking to sell their property, the goal is to get the highest price possible! To get your property sold in Ocala, you need to have a Ocala Realtor to get this done. However, the price of a property is always dependent on the forces of the real estate market. After the market crash of 2007-2009, the Ocala housing market was at a all time low. The real estate industry struggled the subsequent three years before prices of property started recovering. Since then, things have been rosy for property sellers. From 2012, the prices have been on an upward trend and are at the highest possible point. It is unlikely the prices will climb any further.
A closer review of the real estate market by Fred Franks, in which many property market experts agree. That the home prices are almost at the same level that they were before the 2008 market crash. If you are looking to sell your Ocala property, it is time to move with speed. With the Ocala real estate market is still bullish. If the prices in 2016 are approaching the crest, you do not want to be caught by the downward trend.
The Supply of Homes is approaching equilibrium after a steady supply
In Ocala real estate market, a seller should be worried about two most important factors; supply and demand. Ask yourself what is the position of both supply and demand at the moment? After the market recovery in 2012, everybody has been on the run to harvest from the good prices. For property owners, this has been a seller’s market because the supply was low. However, this supply is headed towards the point of equilibrium. Therefore, sooner than later, the available units will be more than the suppliers can take and a slowdown will be imminent. Fred Franks argue that a wise seller should take advantage of the situation and not wait until the market is flooded.
All predictions point to a high probability of Ocala real estate market slowdown in 2017
The property market follows a cycle that poses an even greater problem to sellers. The current market statics indicate that the market is at the same level it was in 2006 before the recession of 2008. Fred Franks insists that every property seller must look at history with an extra focus on the cycle to avoid being caught up by the events that follow a recession. Other top market experts such as Harry Dent and Garret Sutton have already indicated that the market is at the edge. The prediction that the property market is going to crash should be taken with a lot of seriousness because you cannot know the extent and period of the dip. Well, why wait for the crash and recovery could even take up to 9 years like it was the case after the great recession?
It is easier to sell your Ocala property right away
The process of selling your Ocala property is usually lengthy because it involves a lot of logistics especially looking for clients. However, selling a property right away is easy because of the high demand and blossoming economy. When the supply outstrips demand, buyers will be fewer, and you will find it very difficult to get them. Well, list your property right away to sell and avoid the hard times ahead where a property can last for a long time before clients show interest.
Selling right away is the surest way of staying on the safe side
Some people have argued that the government and other stakeholders have learnt their lessons after successive downturns and, therefore, there is no need to worry. Well, while the government passed the Dodd-Frank Act after the recession, the control is largely targeted at driving scrutiny for all clients borrowing loans from banks. However, a lot of factors remain uncontrolled because property buyers come from various sectors of the economy. For example, even if there is greater loans scrutiny, what will happen when the supply of houses outstrips demand in the property market? The market will take a downward trend and bring about ripple effects that could extend even to other sectors of the economy.