We love to hear from our clients when something exciting - like a new baby or new job - is on the horizon. We celebrate with them and it's so fun to begin a search with hope and anticipation of a new, welcomed chapter in their lives.
Of course, life also throws curve balls our way and we understand when the loss of a loved one or at times, divorce, necessitate the selling of property. While these times are certainly never joyful, we want to walk with you through the difficult seasons as well.
But before you start searching for your next dream home, it helps to put a game plan together to sell your existing home. The decision is a complex one, especially considering what can at times be an unpredictable economic environment or when interest rates are volatile. As market inventory varies as well, you will find different experiences selling in a "Buyer's" or "Seller's" market.
And while there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.
The best season for selling:
Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have past, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. And while spring is the season that sees the largest amount of buyers, it’s also the season when inventories are highest. This means lots of competition, so if you’re going to sell in spring, you really need to get your property to stand out with effective marketing and staging.
The best day for selling:
According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home will have only been on sale for two days, which is great for attracting full-price offers. In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive.
The chicken and the egg:
Finally, we are often asked, "shouldn't I find a new house before I put my house on the market?" Most folks need to sell their current home in order to be qualified to be a new one. Always check with your lender on what plan is best for you, and you may be surprised how in a low-interest rate environment, you may be qualified to buy without first selling.
We can appreciate how folks like to have the goal in mind before listing their house, and we are totally on board with that idea. However, it's often unpredictable just how quickly you will receive an offer on your current property. And we find you are going to have a much stronger bargaining position when you MAKE an offer, if your current house is already under contract.
Say some prayers. Do some online shopping and save those "favorites" in your cart. But if at all possible, we always recommend getting your house on the market, and under contract hopefully, before you start your seriously shopping in person and falling in love with a house before you have a plan to sell your own.
Of course, each situation is different, so please contact us today to discuss your unique story!
We look forward to walking with you during this process.