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Is now the right time for you to sell?
Reasons You Should Sell in Today’s Market
You’re probably familiar with the old adage, ‘there’s no time like the present’. This piece of wisdom could not ring more true in today’s housing market.
Homeowners are witnessing an incredible opportunity to cash-in on what can only be described as the perfect circumstances to sell – and savvy, proactive homeowners are jumping at this chance of a lifetime.
If you own a home, putting it on the market is a smart move that you’ll benefit from for years to come. In this section we'll walk you through why there really is no time like the present – and address common concerns that many of you have.
Let's Examine The Basics
As personal of a decision as choosing to sell your home may be, it’s important to understand the realities. Take a look at the facts and figures that will help you feel confident that selling is the right choice:
Prices are At Historic Highs
Housing prices are through the roof, so no matter when you purchased your property in the past, odds are you’re going to profit significantly from selling. You can channel this profit into your next property without going into a state of ‘limbo’ by working contingencies into your next purchase. Doing so will allow you to take out a more advantageous loan, and make financing your new home much easier.
Interest Rates Are On The Rise
The pandemic resulted in rock-bottom interest rates for mortgages. However, those days are well behind us, and rates are now rising faster than they have in decades. This means that potential buyers are eager to lock in today’s rates ahead of further increases.
If you’re worried about what that means for you when you’re looking for a new place to live, just remember that you’ll be privy to better mortgage terms by putting down a larger down payment, which the sale of your home will help facilitate.
These Conditions Are Unprecedented
This combination of rapidly rising interest rates and housing prices is an anomaly that’s creating uncertainty about the future. Add today’s high level of inflation to the equation, and it’s an economic situation that hasn’t been seen before. On the one hand, this new dynamic is putting pressure on potential buyers to buy now in case the situation becomes more unfavorable in the future. On the other hand, it’s also making it an ideal time for sellers to act due to the real possibility of the boom ending, buyers not being able to afford future prices, or unforeseen circumstances putting an end to this golden age of homeownership.
Don’t Let Fear Hold You Back!
Selling your home is a life changing decision, no doubt. It’s normal to have fears, uncertainties, and anxieties about making the leap – if you’re worried about selling your home, it’s helpful to recognize that risk and reward often go hand-in-hand.
Potential sellers are often concerned about moving to a new city, becoming buyers in today’s market, or missing out on future opportunities. While these feelings are completely valid, you can quell many of your fears by considering the following:
Life Changes
If you’re one of the countless people who now works from home, it might make sense to move to a place with more space, a designated office, etc. If you're looking to downsize because you have more space than you need, transitioning now may be easier than in the future.
The only thing certain is life always changes.
Make It Your Decision
Factors like aging, inflation, or career changes often force people to move when they don’t want to. Looking ahead and preparing for major changes can make moving less stressful than if you wait until you have no choice.
Secure Your Future Financials
There will always be a "chance" you could get more money for your home in the future. However, when it comes to setting yourself up for financial success, it's wise to not to leave it to chance. It’s almost certain that you’ll make a profit if you sell your home now.
Demand Is On Your Side, For Now
At the end of the day, supply and demand is one of the determining factors that impacts the housing market. Simply put, right now there are more people who want to buy houses than there are houses available. Although this might sound like something you’d hear in an ‘Econ 101’ class, it’s important to understand what this means – and that it might not hold true in the near future.
While no one can predict the future, one thing is certain: nothing lasts forever. Once prices begin to cool, it might be years, or even decades, before this same lucrative opportunities arise.
The supply and labor chains were disrupted after 2008, leading to fewer new homes being built. The industry is now bouncing back quickly, and new construction is on the rise.
Now Is The Time To Sell – And Reap The Rewards For Years To Come
Making the decision to sell your home can alter the course of your entire life—and sellers are 100% in the driver's seat in today’s market. If you own a home, you’re in the perfect position to maximize the return on your investment, and maximize your opportunities for the future.
We are #1 in Central VA for selling houses - and people have noticed!
Check out our recent mention in Reader's Digest: 13 Smart Ways to Sell Your Home as Fast as Possible.
Alex Glaser is Richmond's #1 Seller's Agent! The Glaser Group sells 30x more houses than the average Realtor in Central Virginia. Let us list your property to receive more net, a faster turn-around, and exceptional service.
Call us at 804-396-3196 to receive your free consultation.