Are You Ready To Sell Your Home?

By
Real Estate Agent with House Stories

2021 has been a great year for selling homes.


Price increase in the seller market is the reason why 2021 has been a good year for the sellers. In 2021 the home price has increased by 23% which is triple than the prediction was made before the starting of the year making it a good year for the sellers to sell their home. The hot market of real estate has made the sellers to uproar with their home sale as soon as possible before the price falls. But it’s a sure thing that the price will not fall until the middle of 2022.


Low inventory and high demand for homes had led 2021 to be the best year for sellers to sell their home. The year began with a historical low mortgage rate which initiated the buyer to go for a new home. And made the market more competitive at the same time combined with limited inventory which has turned out to be low inventory now, has given the sellers the upper hand in the current market. 

Signs that an individual is personally ready to sell a house

Having enough equity

One of the major signs that you are ready to sell your house is having enough equity and some cash amount in the bank. You must not think of selling your house if you have negative equity except if you are trying to avoid foreclosure or bankruptcy. Try to build equity enough to be able to pay down your present mortgage loan and would be able to go for a 20% or more down payment. And to relocate you’ll need a bit of equity-like 10% plus. Also before making the move try to ensure you have no debt rather some extra cash in the bank considering all the costs.

Crazy Market

At some occasions, you might observe that some homes which are similar to yours in value are selling at a high price. Then get ready to start the process of selling your home taking advantage of the hot market.


●    In your neighborhood or region, prices of homes are increasing consistently.
●    The DOM (Days on market) length has shortened for homes in the market which means, most homes are being sold within a short notice and staying period on the market is decreasing.
●    Buying and selling of homes have increased at a higher rate than usual and the market is flowing continuously for enough time.
 
If you find these three factors are found around your area, then yes, this is the easiest and a good opportunity to sell your home and a vital sign.

Best time of the year to sell a house

In the regular market climate, the slowest month considering the selling rate of homes in November, December, January, and the beginning of February. But this year it’s been different, I have resolved more than 30% of the home selling process in the previous two months than the usual time of home selling and still facing more.

 

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