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Sep 29, 2024 · Most real estate professionals will tell you that the best time to sell would be the spring, followed by the fall. Spring is desirable for many sellers as it is a great time to showcase your home’s best features, and many buyers want the transaction to be completed before the summer months. It’s important to remember that since it is the ...
- If Mortgage Interest Rates Are Going Up
- If Your Move Isn’T Crucial
- If You Haven’T Built Much Equity
- If Housing Inventory Is Rising
- If Your Home Has Unfinished Major Repairs Or Renovations
- If You’Re Happy with Your Current Home
- If You Recently Refinanced Your Home
- If You Can’T Afford to Move
- If You Will Face Steep Capital Gains Taxes
- If You Have No Clear Game Plan Or Objective
Traditionally, rising interest rates lead to a decrease in home values and offer prices. However, the current market defies this trend. Many homeowners, reluctant to give up their ultra-low mortgage rates, are staying put, creating a restricted housing supply and keeping prices high. That being said, with home sales down nationwide, your property c...
Yes, upsizing can be on both the “sell now” list and the “wait to sell” list. Is your desire to upsize based on a crucial need or just because you think it would be nice to have the extra space? The cost of purchasing a larger home now may become a burden, especially if other factors will add additional costs, such as higher interest rates or a lac...
Similar to evaluating your home equity when you’re considering trading up, you don’t want to move when your home is considered “upside down,” i.e., you owe more than the property is worth. For example, if your home’s value is $300,000 and you owe $320,000, you may want to wait to sell or rent it outuntil you’ve built up some more equity. Because th...
When supply is high and demand is low, selling your home may not be as profitable as you would like. Keep an eye on what’s happening in your market. In many areas of the country, high housing inventory may not be an immediate concern. Nationwide, it’s only at a 4.1-month supply, and a 6-month supply is considered a balanced market. The current U.S....
A home that needs a lot of work can turn away potential buyers looking for a turnkey property. Typically, to get top dollar, you are better off completing any remodeling projectsbefore placing your house on the market. Whereas during the pandemic housing boom, most buyers were willing to take whatever they could get and waive many seller concession...
If you are content with your existing home, and it fits your needs and budget, waiting to sell might be the best decision. “If your home is comfortable and you are locked into a low interest rate, then you might not want to sell,” says Nathan Butcher, a top agent in Los Angeles with 24 years of experience. Homeownership is a natural hedge against i...
Because mortgage rates hit record lows between 2020 and 2021, many people opted to refinance their higher mortgage rates instead of opting to buy a new home. According to Freddie Mac, refinancing activity in 2020 reached its highest annual total since 2003, climbing to $772 billion inflation-adjusted dollarsin single-family refinances. Now, as mort...
The recent rise in home prices can be a double-edged sword. It’s great when you’re on the sell side, but is it worth cashing out now if you’ll have to sacrifice those profits to buy high? If you are not in a financial position to make your next home purchase, or if the cost of transitional housing is beyond your current reach, now may not be the be...
Capital gains taxesare another consideration. You may be able to avoid paying capital gains taxes on your home sale, but you’ll need to have owned the home and lived there as your primary residence for at least two of the five years leading up to the sale. As long as you meet these criteria, you can exclude up to $250,000 (or $500,000 if you’re mar...
Moving is a big decision. It’s even bigger when it involves selling what is likely the largest financial asset you have. To avoid seller’s remorse, you’ll want to map out exactly what you’re going to do as soon as the home is sold; whether that’s immediately buying a new home, moving into a family member’s casita, or committing to full-time RV livi...
- Max Efrein
Here are a few reasons why the market could actually be moving strongly in your favor. 1. Home buyer demand is back with a vengeance. Granted, in the spring, when COVID-19 was spurring many states ...
Oct 23, 2024 · According to Fannie Mae’s most recent Home Purchase Sentiment Index, 65 percent of people feel it is a good time to sell. Late spring and early summer are generally considered the best times to ...
Feb 12, 2024 · "Working with buyers in 2020, 2021 was extremely stressful [with] lots of multiple offers. It's not fun for buyers. So, if you're in the market to buy, now is a really good time before things take ...
Sep 30, 2024 · The Bottom Line. The best time to sell a house tends to be between the end of spring and the beginning of summer, with sales typically peaking in the month of June. While home sales can happen at any time of the year, you’re more likely to sell faster and at a good profit during the aforementioned times of year.
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Apr 11, 2024 · Investing in high-value home renovations can significantly enhance its market value by up to 25%. If your property requires significant updates, waiting to sell after renovating key areas like kitchens and bathrooms could lead to higher offers. Renovations make your home more appealing and help it stand out in a competitive market, potentially ...
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