A client recently contacted me about selling their home. They have lived there several years and are thinking about relocating to be closer to family.
Their question: When is the best time to sell our home? This question is top of mind of every would-be seller right now. While the state of the market is certainly one important aspect of deciding when to list your home, it's important to remember that it's not the only consideration.
Here are five reasons that might very well outrank any market considerations to list your home now:
You need the money. You have owned your home for five-plus years and want to tap 100% of the equity.
You're leaving Central Oregon because of work or to be closer to family.
Your family has grown, and you need more space. Or you may be an empty nester and need to downsize.
You have combined households.
Central Oregon has gotten too big for you. Greener pastures and warmer weather are enticing you.
If any of these factors ring true to your situation, then it's important to remember that the real estate market is cyclical, just like the stock market. If your lifestyle, pocketbook and future demand a move, then now could very well be the right time for you.
Let's look at the reality of the market. It's still a seller's market. Our values are up. Being realistic about your sales price will allow you to pocket your equity and move on. Inventory is exceedingly low. Less competition is always an advantage. And buyers are getting creative finding new ways to buy—cash, mortgage, seller financing.
And we all know that Central Oregon remains a desirable area to live. The buyers will continue to come.
If you've priced your home based on realistic data adjusted for the change in our lending environment and kept up with the necessary maintenance to make your home shine, these are the factors that will allow you to sell successfully and move on feeling financially savvy with equity in hand.
Bottom line? The best time to sell your home is when you and your home are ready. Mindset, price, location, condition and inventory are all factors to help you make your next move.
