The Best Week To List Your House Is Just Around the Corner
Are you thinking about selling your house? If so, you may want to make it a priority to start the process soon. According to realtor.com, the sweet spot for sellers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years (excluding 2020, since it was an atypical year). When applied to the current market, experts determined the ideal week to list a house this year. The research says:“Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2022 is approaching quickly. The week of April 10-16 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”If you’ve been putting your move on the back burner waiting for the ideal time to sell, you should know your golden window of opportunity is coming up. If you’re able to get your house ready quickly, here’s what you can expect from that week.You Should See More Buyer ActivityThe article expects higher buyer demand based on what’s happened in previous years. This could result in increased competition among buyers and ultimately a bidding war over your house. And since mortgage rates recently ticked up over 4%, chances are good that analysis is right. When rates rise, experts say buyers often hurry to make their purchase before rates climb higher. As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), says:“. . . Buyers are rushing to lock in lower rates as the outlook is for even higher mortgage rates in the following months.”Your House Is Expected To Sell Quickly Additionally, the realtor.com analysis shows houses sell even faster during this week of the year, likely due to the heightened buyer demand. If you work with a trusted real estate professional to price your house right, it should sell quickly. And when homes are already selling in just 18 days according to NAR, that could set you up for a big win.Your House Will Be in the SpotlightSince the beginning of the year, the number of homes available for sale has been at or near record lows. According to the realtor.com study, the typical trend for this week of the year is that there will be even fewer sellers on the market. If you list when inventory is low, your house will be the center of attention for eager buyers craving options.If you’re ready to move fast, you may want to shoot for April 10th-16th as your target goal. Just remember, even if you’re not ready to list within the next couple of weeks, rest assured this is still a hot sellers’ market. If you list later in April, you’ll still be in the driver’s seat.Bottom LineReady to get the ball rolling? Let’s connect and schedule a time to go over your next steps. In the meantime, make a checklist of things you need to tackle to get your house ready. When we talk, we can prioritize your to-do list and get you on the road to selling your house.
ARE YOU SUFFERING FROM EMPTY NEST SYNDROME?
Learn how to LET GO and MOVE ON. Whether it's our kids leaving "the coop" or a relationship that has soured, letting go of a home can be brutal. Selling a home can be an emotionally-charged transaction, but it doesn't have to be. If you can put your emotions aside for a time and realize that the sale of your home is a business transaction – and stay in that mindset, you'll avoid the pitfalls we see so many home sellers contend with. PITFALLS There are several commonalities among home sellers who are attached to their homes. The first is that they tend to overvalue it for the market. It's important to keep in mind that what you feel the home is worth doesn't equal what a buyer will think and it's the buyer that determines the value. Be prepared for buyers coming in with lowball offers – these buyers aren't intentionally insulting you, but treating the transaction for what it truly is, a business deal. Ditto when buyers appear to be criticizing your taste in décor, such as by asking you to remove the wallpaper in the kitchen or for new carpet. No home is ideal for everyone, not even yours. When you approach the sale with less emotion, you'll be better able to let these unintentional slights roll off your shoulders. FOCUS Take photos of the home, especially those areas where you spend the most time and have built the most memories. Some homeowners will take a plant or even soil from the garden to plant at their new home (let me know if this is your plan because we'll have to move the plant to a pot before the home goes on the market). Then, change your focus. Focusing on the future during the sale process is one way to alleviate that panicky feeling many get when they begin dwelling on the loss of their home. Look to the future instead – where you're going next, how you'll furnish and use your next home. Get excited about what lies ahead.
Should I Buy or Sell Home First?
There is no requirement, legal or otherwise, to find the next home before selling the current one. Selling first is wise in many situations. First, you’ll avoid making a contingent offer on a home – something that many home sellers won’t entertain in an overheated market. A contingent is a condition. It’s like telling a seller that “Yes, I’ll buy your home, but only under this condition.” In your case, the condition would be that your current home sells in time to close on the one you are purchasing. Additionally, selling first eliminates the possibility of owning and making payments on two homes every month. The lender will consider those two monthly payments, and they will most likely ding your debt-to-income ratio. One of the most attractive benefits of selling your home before buying another is that you’ll be able to relax during the house hunt. With the pressure off, you won’t feel rushed and end up making compromises you wouldn’t otherwise entertain. Yes, there are downsides, the biggest of which is the possibility of having to arrange for temporary living arrangements until you close on the new home. The steps you’ll need to take The first and most crucial step is that we meet in person to discuss our strategy for our clients who are in your particular situation. We’ll also help you determine a competitive listing price for your current home and go over the details about what you need to do to get it ready for the market. Even if your financial options are limited, we can help you sell the current home and find the new one simultaneously. Should we find your dream home before the home sells, we always suggest that you make an offer. Yes, the offer will be contingent on your home selling. But we believe that, rather than assume the seller won’t entertain your offer; it’s better to get into the conversation. That is something we are very good at. We will discuss your options for what to do if the home does or doesn’t sell before you close on the new home. In the end, it all comes down to effectively communicating to the sellers how the scenario might be to their benefit. The key to making this work, in fact, is sound communication skills and a competent negotiating strategy. This is our wheel house and you can rely on us to help you through this process with ease.
Categories
Recent Posts
