Is it Time to Sell my Home?

For years, the real estate market has been somewhat of a roller coaster ride. Between the crash we saw less than a decade ago and the current uncertainty still following us, it's difficult to determine what the best course of action to take when you are deciding to sell your home. Here are a couple of things you will want to consider when you are making this decision.

Home Prices

Start by looking at the current trend in your neighborhood or city. If the number of homes that are selling are falling, or if the prices for which they are selling are declining, you should expect to have similar luck in selling your own home.

This could mean that it will take longer to sell your home or that you will have a difficult time getting the asking price you are looking for. Since going through the process of having a home on the market is stressful, many homeowners may choose to hold off selling their home during this type of market.

Mortgage Rates

You should also take a look at the current trend in market rates. For years, rates have been fairly low, which has increased the number of buyers looking for homes. However, in recent months, these rates have begun to rise.

This could mean that more people are willing to purchase a home now rather than wait until the future. It could also mean that buyers may be willing to purchase a home at a higher closing cost because they are able to save money each month in interest. This is a great benefit for homeowners who are looking to downsize or move to a different location.

Keeping both of these items in mind when you are considering selling your home can help you make the right decision when it comes to timing. By timing the sale of your home correctly, you will be able to receive a higher closing offer and a shorter on-the-market time as well.

To learn more about the current state of the housing industry, or to discover how you can make your current home suit your needs better, contact us today.