5 Great Reasons to Sell Your House Today
We are often asked “Is it time to sell my home?” The answer to that question is based on what your families’ goals are. If you don’t need or want to move for a few years it might make sense to wait for the housing industry to recover and prices to appreciate. However, if you wish to move within the next six to eighteen months, it is probably better to sell sooner rather than later. Here are five reasons why:
Your House Will Get More Exposure Now Than the Winter
Housing sales usually level off in the summer and then regain momentum in September and October. The spring buyers’ market has passed. Don’t miss the early fall market. It has consistently outperformed the winter season.
Distressed Properties Will Impact Prices
Distressed properties (foreclosures and short sales) on the market will increase this fall and winter. This will put tremendous downward pressure on prices for at least the next 12-18 months. Get your home sold before they become your competition.
Mortgages Will Become More Difficult to Attain
Lending standards are continuing to tighten. There is legislation currently being considered that will make it even harder for buyers to qualify. Less demand will equate to lower prices.
It is the Perfect Time to Move-Up
With prices where they are and interest rates at all time lows, there may have never been a better time to move-up into your dream home. If you move into a more desirable home now, you will be in position to gain larger equity as prices eventually appreciate.
You Get to Move On with Your Life
Probably the most important reason to sell is so you can get on with your life. You are considering selling for a reason. Do not allow a less-than-stellar housing market prevent you from reaching your goals as an individual or as a family. Think about the reasons you are thinking about moving. Are these reasons really important to you? If you have to take less than you were originally hoping to get for your house, your family has a question to ask each other: Is the dollar difference in sales price worth putting off our plans? Only you and your family know the answer to that question.
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Good article, but it’s based on flawed logic.
Home sales in the past year have not followed seasonal norms, they’ve risen and fallen based off of incentives and government subsidies. Also, what proof is there that the number of distressed properties will rise this fall? As I see a lot of REO’s in pre-marketing stages, I don’t see a significant jump in the next 3 months.
Lending standards may tighten, but there’s no hard deadline as to when. Higher lending guidelines don’t dictate the market. If it did, then why are less homes selling now than they did when rates were at 8%+?
Hi Jonathan,
Thanks for the comment. Three things:
1.) There is no doubt that historic trends have been impacted dramatically. But, let me ask you this: Do you think more non-distressed properties will sell in December and January than in September and October?
2.) All four major banks have said they will be increasing the number of distressed properties coming to the market over the next six months as the robo-signing challenges are being settled.
3.) I am honored to be Keynoting the Maryland Association of Realtors’ Annual Conference in Ocean City next week. I will be discussing these issues and how they will impact your state. Hope to see you there.
What if i owe more money on my condo than it’s worth? Still a good time to sell?
thanks,
Carlos
Great article but sometimes you don’t have a choice – you need to sell your house now!
There are many reasons, maybe you lost your job, have to move, too much debt, or even a death.
When this happens, you need to sell your house fast.
Contact http://www.buymyhousecincinnati.com
We can help.
All the tips are understandable and easy to read about…Thanks for sharing this valuable post to everyone.