The housing market has been absolutely crazy over the last few years. Home values have never been higher, but interest rates are the highest they've been in years. Buyers are trying to figure out what they can afford, where they can live and when they'll be ready. Then they find out there aren't that many homes available and a lot of other people are in the same boat. That basic practice of supply and demand has been a hellish one for buyers lately.
For sellers however, that may be a different story. With limited inventory and a surplus of buyers out there, home prices have kept going up. Some experts will tell you that there's no way it can last, but others say this is just a sign of the times and the values will stay strong. If you've been thinking about selling, is now the perfect time to do it?
The short answer is almost always yes. If you need to sell your home because you're moving, changing jobs, a loved one passed away, you're getting divorced, or any other reason you and your home are no longer a good fit, it's the perfect time to sell it. Whether or not you'll get the value you could have gotten on another occasion doesn't really matter. You weren't ready then.
The longer answer however can be a little trickier. Where do you need to go? What is the inventory like there? Do you need to sell your house in order to buy a new one? Is it an estate sale that needs to go through probate? What kinds of things do you need to do to your home to make it more desirable to sell it?
Those factors, and many others, may tell you that now isn't the best time to sell. Maybe investing $10,000 to finally upgrade those bathrooms may net you $25,000 in return. If you can do that in a month, is it worth it to you? Maybe your new job doesn't start until September and you worry that if you list too early, you'll be temporarily homeless or displaced. Whatever the reason for the delay, it's worth taking the time to make sure selling is the right decision.
Finding the right time to sell can be stressful. Speak with a qualified agent to help navigate some of those concerns. That's what we are here to do.
Whenever it is that you're ready to sell, I'm always ready to help.
Until next time,
Dave
