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Tip Tuesday: Is Now the Time to Sell?

Is now the time to sell?  The answer will depend on each individual’s needs and each individual’s home.

But here are some things to think about when deciding if it’s time to sell:

  1. How is the market in your area? Pay attention to homes going up for sale in your market area.  Are they selling fast?  Are they selling at asking price?  CT Association of Realtors said that in the first quarter of this year home prices rose by 7%.  At Harrison Realty Team, we like to set our potential sellers up with their areas market alerts so that they see homes the second they come at the market and the price they can come on at.
  2. How does your home compare?  That’s great if homes are selling in your area and even better, selling fast and at or above market value, but how does your home compare?  Is your home as updated or more updated?  Does every home have central air and yours doesn’t?  Be sure that your home will stand up in a competition against other homes in your area and if not, then be sure to adjust that factor with a lower price.
  3. What are interest rates doing?  Are interest rates rising?  Are they lowering?  Paying attention to this as a seller is important because you won’t want to miss the market before interest rates get too high and buyers stop buying (hint…hint…the average 30-year mortgage interest rate has risen by 0.12% over the last month).
  4. Are you really ready to sell?  Let’s say the best thing ever happens and your home lists and within hours gets an offer; are you truly ready to sell?  Do you have a place to go if you don’t find a place to buy fast enough?  Do you have the ability to pack your entire home quickly?  All of these factors are often things that clients will say to us “we’ll figure it out; we just want the house sold” but then they find these factors to be very stressful when the time comes.  Therefore, having a game plan for “what next?..” will help not only make the sale of your home smoother, but keep your own sanity!
  5. What would your home sell at?  We know that for you, your home is priceless.  Unfortunatley, there is a number the market will put on it.  Is it what you’re willing to sell at?  Find out what your home is potentially worth by using our Home Valuation tool to see if today’s price is one you’d want to sell at.
  6. Find a Realtor.  Finally, interview Realtors to find the best fit for you.  Harrison Realty Team would love the opportunity to meet with you and show you how we can give you the service you deserve from a team you can trust.