QUESTIONS YOU MAY HAVE ABOUT SELLING YOUR HOUSE

SHOULD YOU WAIT TO SELL?

 

If you’re thinking about waiting to sell until after mortgage rates come down further, you need to know a lot of other people are too. Many are hoping for a number in the fives or below. But most experts forecast rates will remain in the sixes this year. While mortgage rates are still projected to come down a bit, if you wait for that to happen, you may be dealing with more competition as other buyers and sellers jump back in too.
CAN I AFFORD TO BUY MY NEXT HOME?
 
And if you’re worried about how you’ll afford your next move, consider this: you probably have more equity in your current home than you realize. Homeowners have gained record amounts of equity over the past few years. And that equity can make a big difference when you buy your next home. You may even have enough to be an all cash buyer and avoid taking out a mortgage altogether.

IS THE NUMBER OF HOMES FOR SALE INCREASING?

 
Over the past few months, the number of homes for sale has increased. It’s still lower than pre-pandemic years, but it’s the highest it’s been in a while. This is good news when you move because it means you’ll have more options as you search for your next home. But it also means buyers have more to choose from, so if your house doesn’t stand out – it may take a bit longer to sell.

HOW CAN AN AGENT HELP YOU SELL YOUR HOME QUICKLY AND EFFECTIVELY?

 

Timing is important to you. You want to get this done, fast. By leaning on a pro, they’ll do things like share their valuable insights into what’s happening with supply in your market, help you price your home correctly, and create a marketing plan that gets your home noticed.

HOUSING MARKET FORECAST: WHAT´S AHEAD FOR THE

REST OF THE YEAR.

HOME PRICES ARE EXPECTED TO CLIMB MODERATELY.


Prices aren’t expected to drop nationally. They’ll continue climbing, just at a slower, more normal pace. This is especially important when setting the price for your house. An agent follows all the latest pricing forecasts, as well as local pricing trends to help find the right price for your house based on market conditions.

MORTGAGE RATES ARE FORECAST TO COME DOWN SLIGHTLY


One of the best pieces of news for both buyers and sellers is that mortgage rates are expected to come down a bit. Lower rates will bring more buyers back into the market, which could help you sell faster and potentially at a higher price.

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HOW MUCH EQUITY HAVE YOU EARNED OVER THE PAST 12 MONTHS?

With how prices skyrocketed a few years ago, and the ongoing price growth today, homeowners clearly have substantial equity built up – and that has some serious benefits.

You could use it to start a business, fund an education, or even to help you afford your next home. When you sell, the equity you’ve built up comes back to you and may be enough to cover a big part – or even all – of your next home’s down payment.

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THE BIGGEST MISTAKES SELLERS ARE MAKING RIGHT NOW

OVERPRICING YOUR HOUSE

 

To avoid falling into this trap, partner with a pro. An agent uses recent sales of similar homes, the condition of your house, local market trends, and so much more to find the price that’ll attract more buyers and open the door for multiple offers and a faster sale.
SKIPPING THE SMALL STUFF
 
You may try to skip important repairs, thinking you can pass the task on to your buyer. However visible issues can turn off potential buyers and result in lower offers or demands for concessions.

BEING UNWILLING TO NEGOTIATE

 
As a seller, you may see more buyers getting an inspection, requesting repairs, or asking for help with closing costs today. You need to be prepared to have those conversations.

NOT USING A REAL ESTATE AGENT

 

Real estate agents have experience and expertise in pricing, marketing, negotiating, and more. That knowledge streamlines the selling process and usually results in drumming up more interest that can ultimately get you a higher final price.

CONTACT

Lily Moore

Broker

+1(817) 715-3771

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