30 Apr Spring Has Sprung!
As Spring rolls in for us, we are seeing lots of changes in the real estate market and houses popping up for sale at a feverish pitch! I’m sure you’ve seen a few of the neighbors that have listed their house for sale and as we’ve seen from their asking prices, some people are serious about selling at top dollar and some are overpriced meaning their home won’t sell at all.
It appears that the surge we are seeing in homes being listed for sale is coming from several sources. With the combination of the Spring season, interest rates rising and whispers of a market getting ready to drop again, everyone is trying to sell while at this peak.
Nobody can predict the future for certain, but in my professional opinion, I believe if someone is looking to sell their home, right now is the time to sell it for the most amount of money. We saw the same type of warnings in 2008 when homes across America were selling at ridiculously high numbers and those that waited to sell had to endure four years of decline and four more years of rebuild to get to 2016 when homes finally reached the 2008 price they could’ve gotten.
So this may be a good time to think about your family’s planning. If you are planning to stay where you are for at least 6 to 8 years, you are in good shape and you don’t need to do anything. But if you think you may want to move in LESS than 6 years, you may want to get a full assessment of your home by a real estate professional like myself and discuss what you may want to do RIGHT NOW to save yourself tens of thousands of dollars.
Most homeowners don’t realize that owning a home can be the same type of financial responsibility as owning a large stock portfolio or other investment. It’s important to know how to time the market, buy low and sell high. If you get too emotional about when you should sell that asset, it can easily be worth $100,000 less which forces you to take a loss or wait it out for another 6 to 8 years. Keep your eye on the market and let me know how I can help you!