It might still be a “buyer’s market,” but that doesn’t mean now isn’t a great time to sell. In fact, it means quite the opposite. Right NOW might be the perfect time for certain homeowners to sell. Inventory is very low, and properties are receiving multiple offers. So how do you know if selling is the right move for you? You can start by contacting Montgomery County’s Real Estate Specialist, Emcee Arah, and discussing a few important points:
Do you have equity in your home? If not, what would you need to bring to the table in order to at least break even? Even if you don’t profit from the sale, the move might still make financial sense if you’re moving into a lower mortgage payment. Your Silver Spring, MD Realtor can crunch these numbers with you.
What is your job mobility? If you have a job in computer IT, for example, chances are that you can work from just about anywhere. It’s not uncommon for people living in more expensive areas to relocate to less expensive areas in order to improve quality of life and savings opportunities.
Do you have money to invest in updating/upgrading certain parts of your home? You want your home to be a competitive as possible, and a “move-in ready” home is almost always more appealing than a “fixer-upper.” New carpeting, fresh paint, and some minor interior and exterior maintenance can make a world of difference to potential buyers.
What is the competition in the neighborhood? The number of homes available this month in Silver Spring, MD is 36% less than it was one year ago, and 6% less than one month ago. There were also 254 sale contracts in February 2012, versus 189 one year prior. This means less competition due to limited supply, but an increase in contracts indicates stable demand. Both are a good sign for Montgomery County, MD sellers.
If you are ready to discuss selling your home, contact your Montgomery County Realtor, EMA Real Estate Group, for a complimentary consultation at 301.452.2525. We have the knowledge and experience you can trust.
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