In McKinney, 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.
Courtesy of The KCM Blog