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April 21, 2021

Knowing When to Sell Your Home

by Sandy Dodge –

Claudia Gentzkow Gig Harbor Wa Real Estate Blog Featured Image 480x1240 Selling 1024x396

Of all the components involved in a successful home sale, there is perhaps no greater contributing factor than timing. Knowing when to sell your house gives you the best chance to make an impact when you hit the market. Every seller’s situation is unique but choosing when to sell comes down to how prepared you are, finding the right agent, and local market conditions. Once you’ve got a grasp of these elements, then you can decide if it’s the right time to sell.

Are You Ready to Sell?

Before you sell your home, your finances must be in order. Equity is a natural starting point for assessing your financial health. To calculate your equity, you’ll need to know your home’s market value. Your real estate agent can help you determine this by conducting a comparative market analysis (CMA), which involves comparing your home to others in your area by such characteristics as square footage, the number of bedrooms/bathrooms, age, and lot size. Once you know your home’s market value, subtract your current mortgage balance from that number and you’ll have your current home equity. If your equity is negative, then it may not be the best time to sell.

Beyond your home equity, there are plenty of other financial factors to consider when preparing to sell. Selling a home does not come without its own set of costs. Commission fees, home repairs, inspections, and staging are just some of the expenses you can expect to incur. For more information on the costs involved with selling your home, talk to us today.

Selling a home is an emotional process that comes with significant lifestyle changes, so it’s important to make sure it’s the right time for you and everyone in your household. Part of a real estate agent’s role is understanding how the varying emotions of the selling process apply to different people. For every fear, worry, and hesitancy you may experience when trying to decide if it’s the right time to sell, your agent can share similar experiences while working with past clients.

Local Market Conditions

The state of the real estate market in your area could dictate whether it’s the right time to sell. Various factors affect local market conditions like inventory, seasonality, mortgage rates, and home price growth. Talk to your real estate agent about what the local conditions mean for your selling strategy and what kind of buyer negotiations you can expect to encounter. Agents have the tools and know-how to perform a complete analysis of the market to help you decide when the right time is to sell.

Find the Right Agent

Real estate agents are the catalyst for a successful home sale. They not only bring a wealth of resources to the table, but they can also offer helpful advice on the optimal time to sell. Agents can assess your goals for selling your home, how that aligns with your budget, and how those factors fit into the context of current local market conditions.

To truly know whether it’s the right time to sell, it’s important to find the right agent who understands the needs of your household. The more an agent knows about your situation, the better they can formulate a selling strategy. This also allows them to understand what the best offer for your home looks like. When searching for an agent, ask for referrals from your inner circle. Interview multiple agents to get an idea of their qualities, and select the one that makes the most sense for you.

When you’re ready to sell, or if you have any questions about the selling process, contact us.


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Blog, Selling

Portrait of Claudia Gentzkow

Claudia Gentzkow

Saltwater Homes

BROKER | REALTORĀ® | SRESĀ® | RENEĀ® | NinjaĀ®

Contact Us Today

(253) 732-4663
claudia@saltwaterhomes.com

We remain available to answer ANY questions you may have and make this process as easy as possible for YOU!

Ā© Claudia Gentzkow
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Realtor, MLS, and Equal Opportunity Housing Logos As a REALTORĀ®, you can use the REALTORĀ® membership mark to help identify yourself as a member of the National Association of REALTORSĀ®. The term ā€œmultiple listing serviceā€ refers to the system used by real estate agents to compensate other brokers and to accumulate and share information about properties with each other. Equal Opportunity Housing refers to the idea that all persons should be granted ā€œequal opportunitiesā€ when it comes to renting or purchasing real property. This is usually in reference to anti-discrimination policies and laws set forth by state and federal governments.
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