Is Now a Good Time to Sell?
Our real estate market is experiencing increased buyer demand while the supply of sellers remains near all-time lows. To give you an idea, at the time of this writing, Leduc has 62 detached homes on the market and nearly half of these homes already have accepted offers. For this time of year, Leduc often has on average 120-130 detached homes listed for sale. Having virtually half of the typical selling supply has created increased buying pressure which often equates to quicker sales and stronger pricing for sellers. This is good news if you’re planning to sell a home as now might just be one of the best times to do so. Selling a property is a big decision, so here are a few questions you might consider to determine if now is the right time for you.
What’s selling in my area? Knowing what comparable homes are selling for is your first starting point. This will give you an idea of what your home could sell for within a few percentage points.
What is my mortgage penalty? A mortgage almost always comes with an early pay out penalty. Factors such as having a variable or fixed rate, remaining time in your term, mortgage balance, or cash back at time of purchase (if any) will make a difference in how much your penalty could be. Speak with your bank or mortgage broker for more info.
What costs will be involved with a sale? Costs can include hiring a Realtor, lawyer, mortgage payout penalty and perhaps any minor repairs or maintenance items in preparation for your home to sell. After you know the approximate value of your home and the associated costs, you can determine how much equity is remaining.
What is needed to get my home sale-ready? Some people are fortunate enough to live in a sale-ready home every day. We find more often than not, especially those of us who are raising kids or have full schedules, a deep clean, declutter, and a few repairs are likely needed to get your home in prime-selling condition. When we do market evaluations we can offer suggestions about what more can be done, if anything, to improve the presentation and saleability of your home.
Where am I going? Do you plan to downsize or move-up to a larger home? Will you stay locally or move out of town? If the type of home you’re looking for isn’t currently available, what’s the likelihood it will come up in the next 2-4mos before a sale and possession take place on your current home? It’s ok if your exact home isn’t available now. We will be on the lookout together each day seeking out the right home.
Once you have the above questions answered, you have enough information to determine if now is the right time to move. Currently, our market has some of the lowest inventory it has seen in months. With less competition and a surplus of buyers, it really is one of the best times to sell. If you’re thinking about selling, we’d be happy to meet with you, get a better understanding of your goals and give you our honest feedback about what options are right for you.
Jason Rustand with RE/MAX Real Estate serves with the highest level of integrity and excellence every time. To talk to Jason about your real estate needs, contact him at 780-919-0004, email firstname.lastname@example.org or visit www.WeSellLeduc.com