Market conditions will have a major impact on your selling experience. Understanding what is happening in today’s marketplace can help you develop and execute a realistic plan to sell your home. Gauge market conditions. Real estate markets are cyclical. When you listen to any financial planner or investment advisor, they tell you buy low and sell high. The market will certainly return to normal as it has in the history of real estate. Typically a homeowner remains in their home for 5 - 7 years and while there is no guarantee of what the market will do, you can certainly look to the past. If you put your house on the market when the supply in your area is high, it will likely take longer to sell your house. When you decide it's the right time to sell, you must then look at who else is selling at that time. This will be your competition.
When is the best time to sell? There are two primary selling seasons - spring and fall. Spring is the strongest, since many shoppers want to buy and move in before school begins. Summer and winter are generally very slow periods in most markets. Some areas have their own seasons.
To understanding area sale, check out actual sale and closing prices of homes in the immediate vicinity of your home. Remember, national housing statistics are about as relevant as national weather statistics. Real estate is local.
Success may mean not selling your home right now. Many homes are currently on the market that do not need to be. The sellers would LIKE to sell, but they don't HAVE to sell. While inventory levels high and your motivation to sell may be very low. Consider re-listing your home when there more incentives for you to sell.
The current status of the market can have a significant effect on your home selling strategy and the results you are likely to see. Try to develop an understanding of the market so you have some idea of what to expect - and a feel for how you can bargain when negotiating with buyers.
Thinking about selling your home? Call JoAnn Papsidero today! 321-243-4917or email at JoAnn@myFLdreamhome.com
