Selling your home can be an emotional process – and stressful, especially in today’s housing market! Even without the formal process of getting onto the housing market and deciding on whether or not work with a real estate agent or investor, it can be difficult to decide when is the right time to sell your home.
If you’re in the Spokane area and are deciding on whether or not its the right time to sell your home, look no further. Here is everything you need to know to decide if it’s a good time to sell your home in this local market.
How Do You Know It’s Time To Sell Your Home?
You’ve Been Considering Selling Your Home For A While
The first sign that you’re ready to sell your home is simple: you’ve been thinking about it. While you might want to wait for the right time – such as making sure it’s a seller’s market – just the fact that you’re considering selling your home means it might be time to start looking into the local housing marketing.
You’ve Started Outgrow Your House
Maybe you’ve got a growing family, gotten dogs, or just want more space in general. If you can start to feel like you are outgrowing your space, it’s probably best that you begin considering putting your house on the market.
If The Market Is In Your Favor
One of the most important aspects in deciding on timing is whether or not the local housing market is favorable. It’s ideal to put your house on the market when interest rates are ideal for buyers or when it’s considered a strong seller’s market. When the market is good, homes tend to sell quicker and above asking price. This way, you’ll spend less time to sell a house and you’ll get more money.
If Mortgage Interest Rates Are Low
Rising mortgage rates are not a good indicator of the housing market. The best time to sell a house is when the monthly mortgage payments and interest rates are lower.
You Have Enough Equity In Your Home
Home equity is a major factor in real estate. If you havent had your current house long enough or you just don’t have enough equity in it, it might not be the best time to sell. But, if you’re financially ready to commit to selling your home, then getting on the market is a great idea.
If You’re Home Doesn’t Need to Many Repairs
Most buyers want to move into a house that is move-in ready – this means there are not a lot of repairs that need to be done to the house. Prospective buyers don’t want to lose money, especially in a highly competitive market. Additional costs are not attractive to real estate professionals who might be interested in helping you sell your home either.
Is It A Good Time To Sell In Spokane, WA?
For the past few years, Spokane has had a booming real estate. These circumstances are only expected to improve in the coming years. Property values are increasing and many buyers are looking to the Spokane area.
What To Do Now That You’re Ready To Sell Your Home
Once you’ve decided you’re ready to sell your home, there are some things you should do to get started.
Do Some Local Market Research
If you’ve committed to putting your home on the market, you probably already have some idea about home prices in the area and what your house might be worth. But you might want to look into other factors such as the average closing costs, buyers demand in your area, and maybe recent sale prices in your nerighborhood.
Decide if You’re Using A Real Estate Agent Or A Real Estate Investor
Any real estate transaction can be stressful to deal with. You want to make sure you’re working with a organization that suits your specific needs when you’re selling your home.
Working with a real estate agent can get you more money than the asking price most of the time, but the process is long and tumultuous. Plus, the additional money might not be worth it when you factor in closing costs.
Real estate investors, on the other hand, are great if you’re looking to sell a house quickly and mostly be hands-off in the process. This is a great option if you’re moving quickly because of a job transfer or family issue, or if you simply want to get the process over with.
The main idea is that you should sell your house when you’re ready to do so. If the market is good and you’re ready to make the next step, start looking into companies that can help you sell your home.