Is Now a Good Time to Sell My House

By
Real Estate Agent with Best Connections Realty, Inc. 3087750

Is Now a Good Time to Sell My House

 

 

 

People are asking:   Is now a good time to sell my house?  The answer is yes, now is a good time to sell your house.

There are many moving parts to what is going on in the world today, and what is going on in your world today.  Let's take a look. 

 

WHY IT'S A GOOD TIME TO SELL

The market is different than it was three months or four months ago.  The real estate market is even different than it was one month ago. 

We are still in a seller’s market, but there has been a shift.  It's a subtle shift, but it's there.  For the most part, houses are not selling in a day, nor are they getting 15 or 20 offers in a weekend.  The insanity, that was all too common this past winter, seems to have subsided some.

I’m starting to see some price drops, and some homes that have been laying on the market for too long.  Why?  Because they are overpriced!  

 

SMART AGENTS EDUCATE SELLERS

Overpricing a listing is a bad idea.   There is no point to letting a home lay on the market for months and then lowering the price.  By that time, it's become a stale listing.  People have seen it and assume there is something wrong with the house.

If you list your house for sale, within the first 10 days to two weeks you should pretty much know what's going on.  If you're working with a good REALTOR, they will educate you on current market conditions - not what went on two, three or four months ago - but what is going on in today's market.

You can expect it will probably be a normal sale with inspections and contingencies, although there are always exceptions here and there.

 

IS THE REAL ESTATE MARKET GOING TO CRASH

I don’t think the real estate market is going to crash in Boca Raton and south Florida, although I do think It depends on the area even within Boca or Delray Beach.  Boca has 8 zip codes.   Some homes were never worth close to what people paid. 

I think the insanity of waiving home inspections is over (something I never allowed any of the buyers I worked with to do.)   Shorten it if you like, but to waive a home inspection is crazy.  At least find out what is wrong with the house, if anything.  Then if you're okay with it, go ahead.  But, at least you know.  Not knowing is a recipe for disaster, in my opinion.

I think there are several reasons the market is not going to crash.  People have been leaving big cities and continue to do so in droves – the northeast, the mid-west, etc.  They don’t want to deal with the crime and what’s going on. 

Inventory is still low and prices remain high.   Another reason is that Florida is a homestead state. 

Many of the homes in the past two years were bought with cash, so I don’t see the same  problems of 2006/2008. 

Some buyers will be priced out, especially after interest rates were raised again yesterday.  But there are still buyers out there.  Buyers who grew weary of losing homes last year and walked away to take a rest.   Buyers who just didn't want to deal with it any longer.  They are still out there.  

 

FINAL THOUGHTS

Is it a good time to sell your home?  Yes.  

You have to consider your personal situation. 

Have you received a job offer in a new city?  Do you want to move to a different school district?  Are you looking to downsize into a 55+ gated community?  Have you always longed to live in an oceanfront condo?

Life happens.  You need to consider your own needs and wants, and decide. 

If there is a reason, it's a good time to sell your house.

The opinions expressed in this post are simply my opinions.

 

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Is Now a Good Time to Sell My House

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Comments (22)

Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Elyse Berman, PA I agree it's a good time to sell. Hope they have planned where to move to. That can be a more of a challenge than selling.

Jun 16, 2022 07:14 PM
Elyse Berman, PA

Wise words Wayne Johnson .  You're absolutely right!

Jun 17, 2022 03:12 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Elyse Berman, PA very valuable report for is now a good time to sell my house.

Jun 16, 2022 08:42 PM
Elyse Berman, PA

Hello John Pusa Thank you!

Jun 17, 2022 03:11 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Elyse we have transitioned for the past three months, but let's be clear Los Angeles is usually six months ahead of the rest of the country... people think I am crazy when I give heads up.... last three market corrections we were the first to go down and we were the first to come back.... When interest rates are at 6.5 per cent and the entry level market is about $1million it is easy to see the changes.... I should write a post about it:)Endre

Jun 16, 2022 10:45 PM
Elyse Berman, PA

Endre, I look forward to reading your post.  I think people don't want to believe it.

Jun 17, 2022 03:11 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Jun 17, 2022 03:13 AM
Elyse Berman, PA

Thanks Richard Weeks .  You have a great day too!


 

Jun 20, 2022 11:23 AM
Gwen Fowler-864-710-4518 SC * Mountain* Lake*Home
Gwen Fowler Real Estate, Inc - Walhalla, SC
Gwen Fowler Real Estate, Inc.

Price is always the deciding factor.  A good agent is following the action and can see the change.  We have more coming back on the market, more price reductions,

and less on the offering side.  We have made a change and some agents did not realize it yet.

Jun 17, 2022 04:34 AM
Elyse Berman, PA

Sane here Gwen Fowler-864-710-4518 SC * Mountain* Lake*Home .  I saw a listing on my hot sheet this morning that said, showings over the weekend.  All offers due on Sunday...  You know the drill.  

Jun 20, 2022 11:24 AM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

Jun 17, 2022 05:11 AM
Elyse Berman, PA

Thank you Joe Jackson .  You have a great week too!

Jun 20, 2022 12:06 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Elyse... in many markets, like mine, buyers are still chomping at the bit to find a home to buy... it's a great time to sell.

Jun 17, 2022 06:03 AM
Elyse Berman, PA

Good afternoon Nina Hollander, Broker That's great.  It is a good time to sell, but sellers have to be realistic.  Not like the one I saw listed today who is doing an open house with all offers due on Sunday.   

Jun 20, 2022 12:17 PM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

As I watch the (evil) news media, you can smell the pushing of fear on folks who own homes. It is quite interesting to watch.

Jun 17, 2022 07:38 AM
Elyse Berman, PA

It's hard to watch the news these days for many reasons.

Jun 20, 2022 12:29 PM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Yes, it's time to sell if you have been thinking about it.  There are so many reasons that make sense and you have to evaluate the how, what and why of yours.

Jun 17, 2022 04:59 PM
Elyse Berman, PA

You're right Diana Dahlberg .  You have to evaluate the how, what and why of why you want to sell.  If it makes sense, then go for it.

Jun 20, 2022 12:30 PM
Kathy Streib
Cypress, TX
Retired Home Stager/Redesign

Hi Elyse- what a great post to inform your buyers and sellers about the market in Palm Beach County. 

Jun 17, 2022 06:10 PM
Elyse Berman, PA

Hi Kathy,  Thank you.  I know you're happy in Houston and I'm happy for you and Larry, but I still miss you here!

Jun 20, 2022 12:35 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

It is definitely still a good time to sell, regardless of the subtle shift in the market. So true!

Jun 18, 2022 04:38 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Elyse. If price is your motivator now is the time to sell! That said, better have a place to go or you will be shocked. Enjoy your day.

Jun 18, 2022 05:06 AM
Elyse Berman, PA

Good afternoon Wayne,  You better have a place to go, that is for sure!  Enjoy your day too!

Jun 20, 2022 12:50 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Elyse - sellers need to pay attention to what is happening.  My daughter and son in law got an offer accepted on a beautiful executive home.  The had the home inspection and cancelled.  Fundamental horizontal cracks in the foundation.

Jun 18, 2022 06:56 AM
Elyse Berman, PA

Hi Grant, 


That's a shame, but it's better they found out now than later.  They will find another house without such serious issues.  

Jun 20, 2022 12:52 PM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
Relocation to NW AZ with elbow room & more freedom

Best insight "is there a good reason?" to move.

Jun 18, 2022 07:24 AM
Elyse Berman, PA

Yes, exactly Leanne Smith .  Thanks for stopping by and the comment.

Jun 20, 2022 12:56 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Elyse:

Well done analysis about the housing market. We are certainly seeing a shift here as well. It's important for both buyers and sellers to talk with an agent who really knows the market conditions and can help sort through the questions so the right personal decision can be made. And don't make decisions based on what the media says!

Jeff

Jun 19, 2022 05:02 PM
Elyse Berman, PA

Hi Jeff,


 


Thank you.  You're exactly right.  Buyers and sellers have to talk to someone who has their interests at heart, knows the market conditions and can help them make the right decision.  

Jun 20, 2022 01:11 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

This is a big decision--and commitment--no matter what the market is like. Sellers should also figure out what to expect as a buyer if they plan to purchase as well as sell

Jun 20, 2022 08:08 AM
Elyse Berman, PA

Exactly Mary Hutchison, SRES, ABR .  Then they're on the flip side.  It is a very big decision, so they need to be prepared.

Jun 20, 2022 01:17 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

A clean house with a reasonable price will not stay on market long here in CT. The inventories are low so just like your area, get the consult of an educated, qualified agent and create a plan.

Jun 20, 2022 12:13 PM
Elyse Berman, PA

You're right Ed Silva .  I'm looking at what you said, a reasonable price.  That's what it needs to be, as I'm starting to see price drops.  Are you?

Jun 20, 2022 01:22 PM
Roy Kelley
Retired - Gaithersburg, MD

This is good information to share with prospective home sellers.

Have a very productive summer.

Jun 23, 2022 05:15 AM
Elyse Berman, PA

Thank you Roy.  Appreciate the comment.  You have a good summer too!

Jun 23, 2022 05:31 AM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Excellent post Elyse!  We're seeing the same things here.  Nationally, it's a shift for sure! 

Jun 23, 2022 04:52 PM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Elyse, Great advise for those considering selling their home in Delray Beach or Boca Raton. 

Jul 05, 2022 07:34 AM