Follow These Steps for When You Are Ready to List Your Home for Sale
Everyone knows that deciding to sell your home can be a big undertaking as you plan to make a large lifestyle change. However, sometimes deciding exactly when to sell to get the best price can involve some more steps. The real estate market landscape changes sometimes even seasonally with local market nuances. Here are some helpful tips if you are trying to decide when to sell your home.
Engage With a Local Real Estate Professional
Contact a local real estate agent such as myself to review current local conditions as even the type of property you own can play a role in the best time to sell. Only an experienced agent like me will have a finger on the pulse of local activity and provide the best advice.
Obtain a Market Analysis
Your real estate agent can provide you with a market analysis as well as real-time comparables in the market and also inform you on local trends like average days on the market, list-to-sale price ratio, and more. This information will help you arrive at what your home is worth and how quickly you can expect a sale.
Identify Your Area’s Peak Selling Time
Every market will have its peak selling times when things get busier with more listings and active buyers. Some locations are influenced by schools, vacations, and even the weather or the season. There may be a prime time in your market to sell, but don’t worry if you cannot sell then.
Examine Interest Rate Trends
Current interest rates and rate trends are a good thing to keep an eye on as they often drive buyer demand. Mortgage rates are still extremely low these days so demand is strong and buyers can afford more. Lower home loan rates essentially mean that you could get a higher price for your home especially if a competitive bidding war takes place.
Establish Your Selling Goals
It may sound a little funny at first but every seller has a different goal for selling their home. Some sellers may be looking for the quickest sale possible while others may want to seek out the highest price where selling time is less of a concern. Sorting out your goals is helpful in terms of setting the price at as well as what work should be done before you list.
Decide Where You Want To Move
Investigate the market that you are moving to and examine the market conditions of where you are selling. You will want to weigh out if you should find your next home first and then list your current home, or alternatively list and then search. You will most likely want to do the one that may be more difficult first but that can depend from market to market.
