It is attractive to think about selling your home today. Higher prices, low interest rates to buy something else, and bidding wars with multiple offers per sale, all make it look inviting. Before you pick up the phone to give us a call, there are some things you should know and consider. To begin down the road of selling today, you first have to know where you are going. Having a destination frees you from the worry of not being able to find another home in a limited inventory market. The trick to buying something else before you sell your home is having the ability to finance the purchase separate from the home you are living in. If you would need to write a contingent offer, based on the sale of your home, it complicates the offer a seller is considering. Many of the offers being written in this “hot market” are without home sale contingencies and often inspection or appraisal contingencies as well. The cleaner the offer is, without contingencies, the more appealing it is to a seller. It is also the case that we are seeing most offers come in at or above asking without the additional contingencies. This will shift again as there begins to be more inventory for buyers to consider.
The market has seen fewer homes come up for sale in recent months. There may be any number of reasons for this: Covid and the prospect of having lots of people through your home, job uncertainty, or other financial issues. It is also the case that more people are working from home and are using the home they would need to show to make their living. Hard to invite people in when you have Zoom meetings most of the day. These are some of the factors that are shaping the timeline for the decision to sell homes today.
If you know where you are going and are not affected by any of these other factors, then it is a time when you can get the most value in selling your home and you are going to want to call us to get you on the market. We are beginning to see the signs that the vaccine and economy are shifting. There are more homes coming on the market today then have been over the past 6 months and the market changes daily. By publication of this “new”, things may be different. With low interest rates and summer around the corner, there is no doubt that this is a good time to begin the process. If you have questions about what you may need to do to get ready, give us a call and we will come over and help you plan your sale. As always, a home sale ought to meet your needs and timeline. We are happy to advise you as you consider this move for you and your family.

By:  Joseph Moylan, Stapleton Realty