Judging the real estate market takes a lot of experience, knowledge, and time - and then many times a "gut feeling" comes into play. We all want to sell high and buy low, but how as homeowners are we supposed to know when it is the "right" time to sell your home?
Here are the top 6 signs that I determine whether it is time to sell or time to wait:
1. Supply - This one is easy to gauge on the surface, but many times takes digging deeper to know if now is the time. How many homes are available on your street? How many homes are available in your community? How many homes are available in your area? What is the average months of supply?
Here is a graph that we use to determine the trends that are happening in a community:
2. Demand - Do you have a unique home that is not readily available in the market? Do you have a pool in your backyard? Do you have a large yard? Is your home upgraded? All these things we take into consideration regarding demand. I live in a beautiful community where pools are high in demand, if I put my home on the market I would sell it quickly and for top dollar since there are no other pool homes on the market in my neighborhood.
3. Interest Rates and the Ability to Finance - The sales price is one thing, interest rate is another and with rates being low it means that there is more buying power in the market, which means that people can pay more money for your home!
4. Seasonality - Many times I hear seller's state that they want to wait until the spring to sell, but typically you can get a higher price for your home in the off season, and January is a perfect time to beat others to the market.
5. You Want To Move - Maybe it is a job transfer, a growing family, empty nesters - whatever it may be, make sure you and your family are on the same page that you want to move.
6. Pricing is Peaking or Remaining Flat Sell high and buy low, right? Many times we can see what is happening in the overall market to best tell you whether now is a good time to sell.
If you would like to have an analysis completed of your home, to determine if the time is right to sell and if it is not now then when it might be, CLICK HEREand we will be happy to do it for you for free and without any type of obligation!
Mark and Heather Stevenson are the team leaders for the Stevenson Team, a proud part of Reliance Real Estate Services. Being leaders in real estate for the last 23 years, and having lived in Corona for the last 13 years, they are a dynamic team you can trust! They are in the top 1/2 of 1% of all agents nationwide, and have all 5 star ratings from their clients that you can see HERE. If you are thinking of buying or selling real estate, call Mark and Heather at (714) 749-2179 or click HERE and they will be in touch with you quickly!