The Right Time to Sell Your Home
Knowing the right time to sell your home is everything in real estate. Smart sellers buy low and sell high. There is also a strategy in knowing how you can make that happen when the market is hot. That’s where an experienced real estate professional can help you understand and strategize your next move so you don’t make unforeseen mistakes.
What’s the right time to sell your home?
The right time to sell your home is when you’re ready. Regardless of what the market is doing, is predicted to do or anything else, do what best works for you. Trying to time the real estate market is not always advantageous. Know why you want to sell your home and see if it makes sense. If you’re motivated, just do it.
I recently bought a house at the top of the market but the time was right for me and I found the right house. I could have waited until the market changed but I didn’t want to. That was reason enough for me to move forward. I didn’t want to wait any longer. I’m rightsizing for the final time, wanted a very specific house and wanted to settle in while I still can. I only wish more boomers would follow my lead.
What kind of market is it?
First you need to know it’s an extreme seller’s market in Johnson County. Houses in the Blue Valley School District that are priced between $250,000 – $350,000 don’t last a day if they are well maintained. But there are plenty of houses to choose from once you jump up over $500,000.
If you are considering moving up to a higher price range and maybe with a lower interest rate, now is the time to do that. But making a lateral move might not pay off financially unless you want a different floor plan or a newer house. There again, you must weigh your options. Do you want to move now or later is what you need to ask yourself. With me, I wanted to move now – not later. You have to do what’s right for you.
Knowing the right time to sell your home comes with certain benefits
If you want to have control of your real estate transaction, selling in a hot seller’s market is the only way to go. Here are 5 reasons why:
- Since there is so little inventory to choose from, your agent should be able to have the upper hand and pretty much control the transaction.
- If you price your house to sell and your agent understands how to market your home, you’ll more than likely receive multiple offers. Receiving thousands of dollars over asking price only happens in certain markets. You should take advantage of this while you can. It might not be happening next year.
- Unlike in slower markets, your buyer should have no contract contingencies, other than possibly having to close on the house they are selling. Anything else should not even be considered.
- Buyers will typically ask for fewer repairs to be made after they do the home inspections. Remember, during the inspection period, either the seller or the buyer can walk away from the transaction. Buyers often fear you might have another offer waiting in the wings and they could get kicked to the curb if they ask for too much.
- The typical buyer in a hot seller’s market is not asking for you to pay their closing costs. They are putting on their Sunday best and want to be picked as the chosen one to buy your house. Offers in a hot market are very clean.
It’s easy to see why selling your home in a hot seller’s market is all about you and very little about your buyer. Hopefully, your agent can take control early on and negotiate the best deal for you through to the end.
Timing the market
Timing the real estate market is tricky. The market changes daily with supply and demand controlling the factors. It’s hard to predict what the market will do in the future. But the cost of waiting to sell your home could also change your future plans.
A shift typically happens every 7 years or so. With that in mind, we are long overdue. The best time to sell is always when you’re ready.
Sometimes having a conversation about the right time to sell your home will shed some light on things you perhaps hadn’t thought about. There’s no obligation.
If you would like to discuss your best strategy for selling high and buying smarter, please call me at (913) 515-3250 or contact me here.
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Today’s New Listings – Homes for Sale in Overland Park
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See all Real estate in the city of Overland Park.
(all data current as of 9/20/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.