Is Now the Right Time to Sell? By Leigh Anne Monk Real Estate Agent with Equity Rise Real Estate Group/Keller Williams/Chantilly, VA Email Short URL Share: January 18, 2011 04:30 AM No matter where I go when someone finds out that I am a real estate agent, inevitably the next question that comes up is, “Is Now the Right Time to Sell”? Usually the question comes up as it relates to the housing market, interest rate trends And the general economic situation of our region of the country. In this video we review how we answer that question and like all broad brush questions there is truly no universal answer. Or to use the answer that my college professor/part time sale consultant always used, “It depends”! Perhaps the better question is “Is Now the Right Time for Me to Sell”? Here are some key factors you should consider when answering that question: #1) Personal Circumstances Life happens to all us; we have job changes that force a relocation, we decide to move into larger home as family grows, move into smaller home as children no longer live with us, marriage or divorce. Regardless of where the housing market may be it still may be the right time to sell for you based on your personal circumstances. #2) Economic Circumstances Often people don’t think they should sell and buy their next home because the housing market has fallen and want to wait until the prices comes back up. What sellers often forget is that if their house has a lower market value so does the house they are going to purchase next. If they are moving from a $350K range home to a $500K range home they can actually save more money on their new home that makes up for the”loss” on their sale. So depending on what you are doing next in terms of a home purchase, selling and then buying larger immediately could be a great advantage. #3) Spring Market A lot of sellers are familiar with the term “spring market” where we see a larger percentage of homes sold in the spring and early summer than in other times of the year. It is true that there are more buyers out looking in the spring months giving your home more exposure to lots of buyers. However, it is also true that there are more homes on the market at that same time so your house is competing with a lot more homes in those same months. We see buyers in the fall and winter months as often more motivated because they need to purchase now due to their own personal circumstances. In addition, and especially here in northern Virginia, we have a strong re-location market where companies and our federal government are moving families into the area to fulfill key job positions. Relocating happens all year round! #4) First Impression of Home in Spring vs Winter When we meet with sellers we always take the time to walk the outside of the property as well as a careful walk through of the house. Sometimes a property shows best in the spring when the threes and flowers are in full bloom and they serve to block the view of another home. Conversely the winter months can allow you to have a more pleasing view when trees aren’t blocking the way (say of a gorgeous golf course), for example. The bottom line is that all of these factors should be considered when deciding if Now is the Best Time to Sell for You. A local real estate agent would be happy to walk you through the above considerations and if you are in the northern Virginia area please give us a call!