Should I Sell My House Now
Contacting an agent seems like the first step in planning to sell your house but there are so many things to consider first. This is only one of the many steps in the process. The first step is to understand why you want to sell. There are many reasons for selling from moving out of the area to a loss of a job.
They’re some many other things to do and think about before deciding to sell. How many repairs are needed to sell my house now? Do you need to be out of the house in a certain amount of time? After fees and commission, how much money will you walk away with? Are there other options that may be more beneficial to you, like renting the house out?
The last downfall of the market was a little more than a decade ago. This was the worse crash in the market that I know of in my life time. The housing market has recovered in most states and in some areas have surpassed were it was at that point in time. There are some housing markets in 2019 that are expected to do extremely well.
Rates are not where they were a couple years ago but are still historically low. This is good for buyers looking for a new home and for those selling one. The feds signals more rates to rise in 2019 but will considerable less than the average throughout time. I think so many of us have gotten spoiled by the historical low rates.
The current inventory is low, particularly lower in hot markets. The housing market inventory is expected to get lower this year. We are still in a sellers’ market and in some areas, housing have started to slow, as houses are sitting on the market longer. I’ve gotten email alerts from Zillow that there has been a price drop on a house I’m watching. Cash buyers are accounting for close to 25% of all cash purchases. The majority of these are investors that buy the house, rehab it and then resell or rent it.
You need to consider, what type of person is looking to move into your house or neighborhood. The millennials are renting more than past generations, which is a factor to consider. They are looking to travel more and put off children and marriage to a later time than past generations. They are also a major reason for the rise in rental properties, as they are looking to rent more than buy.
The economy is doing great as unemployment is low and consumer confidence is up. Existing home sales have continued to rise for past 5+ years. People are finding better and more stable jobs than they’ve had in the past. With all these great factors contribute people having more money in the back. This normally results more buyers searching for a place to call home. When we have decided to sell our house, we have a good reason why and need to consider many factors.