BEHIND THE SCENE
Without a doubt, home prices are up and the housing market is hot for sellers. But is it a good time for you personally to list your house? Before you decide, ask yourself a few simple questions. If you sell your house, do you have a plan of where you will buy or rent next? If so, how long are you going to stay in the new house? Before you make a move, let’s talk.
At Team Athey we know each person has their own unique needs and
special circumstances. From single home buyers to newlyweds to newly divorced and retirees, there are so many different decisions to consider at each stage of life. Therefore, we like to visit with each of our clients and listen carefully so that we can help guide you to choices that are right for you now and in the future.
If you’re on the fence about listing your house in this red-hot seller’s market, here are a few things to consider.
Many sellers are getting top dollar right now. If you have a plan to move up to a larger home or downsize, this might be the just-right time for you to cash in on your investment.
A low inventory of homes and low mortgage rates have created a seller’s market. Couple this with the fact that many employers are letting their employees work remotely and more people than ever before are moving out from urban areas to the suburbs and country so they can get more home and living space. Translation: Thanks to significant buyer demand, you can look forward to getting a good price for your home, but likewise you will need a place to move to that meets your current needs. If you’ve found that place and plan to stay there for at least five years, then we say go-for- it.
Mortgage rates are still very low. Which means, buyers are still out shopping because they know low-interest rates will translate to thousands of dollars saved over the life of the mortgage. Even if they have to pay more for their new home upfront, they know they still have made a good deal for the long run. This applies to you as well. If you list your home now, you can still take advantage of these historic low rates on your next mortgage.
Or, perhaps you may decide to rent for a while until it becomes a buyer’s market again. While this seems like a good idea, please consider that rising home costs have increased the taxes and insurance on rental homes, pushing up the cost of monthly rent. However, depending on your future plans, renting may make sense if you plan on moving again in the next few years. Or if you can’t find the right home for you right now.
The economy is showing slow signs of recovery. During the recent pandemic, many homeowners were reluctant to put their homes on the market due to economic uncertainty and fear of the unknown. But now, thanks to widespread distribution of the vaccines and social distancing, we’re seeing hope ahead. People feel more secure and stable as our nation returns to something of a new normal. Businesses are adding back jobs and many people are still eager and able to buy a home. In short, people are no longer putting their plans on hold.
Yes, current housing market conditions suggest this summer may be one of the best times in years to sell a house. But is it the right time to sell your home?
Hi, I’m Suzanne Athey, founder of Team Athey & Remarkable Property Management. If you’d like to talk further about listing your home and/or current market conditions, call me at 469-916- 1222 or email me at suzanne@teamathey.com. I’d love to visit with you and answer all your real estate questions and concerns.
