By Sheldon Leigh | Xavier Estates Solutions
At the start of the New Year, real estate investors will be asking themselves, “How can I expand my real estate portfolio in 2015?” Maybe they’re researching year-to-year closing rates; or, Maryland real estate market trends. Because, what an investor knows best is that the purpose of laying the financial groundwork today is to reap the returns on the investment tomorrow. That is the mentality that drives leading investors in Maryland. But, what if the “seller” took the same forward-thinking approach to selling their property?
Let’s say sellers considered current market trends to predict the most optimistic times to sell. Bet they’d find that the year 2015 is actually a great time to sell their Maryland real estate. Here are three reasons why:
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Maryland’s Metro Real Estate Prices are Climbing
CNN reports CoreLogic figures have determined that in Baltimore alone, housing market prices climbed nearly five percent in the 12 months leading up to September 2014. In addition, the end of 2014 expected another eight percent in gains. This is great news for Baltimore City and County residents.
Chris Yates, a modern-day real estate guru and author of several publications, states that, “Equity, much like your credit rating, is not “real” until it is converted to profit or gain of some sort.” The year 2015 will be the perfect time to monetize your property because home equities are on an uptick.
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Maryland’s Suburban Real Estate Market Shows Promise for Sellers
Considering that more real estate contracts were placed on Prince George’s County properties in 2014 and realtors saw a noticeable reduction in depressed property inventory, increases the likelihood that sellers can achieve their desired sales price.
David Howell, columnist of the Washington Post, writes that, “Prince George’s was impacted by short sales and foreclosures more than any other jurisdiction in our area, and there was still a lot of distressed inventory to move. And it moved in 2014.”
This is a sign that the market is beginning to shift for the better, creating a less competitive market for Maryland’s suburban sellers to stand with the possibility of selling their properties at a more profitable price.
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Maryland’s Job Market Draws in More Potential Buyers
CNN Money reports that Baltimore was the seventh hottest housing market in 2014. Government agencies, hospitals and academic institutions such as Johns Hopkins have provided a substantial amount of job opportunities to Maryland, Virginia and D.C. residents. Job growth has infused Maryland’s economy with an influx of first time homebuyers. This influx holds positively for homeowners interested in selling their property.
The healthy housing markets in both metro and suburban areas, the rise in new purchase contracts and attractive job market provide three great reasons to sell your Maryland home in 2015. A seller might consider these reasons when putting their property on the market, or, might have reasons of their own. What are some of your most important concerns when considering a good time to sell?