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Are high prices a good reason to sell?

By
Services for Real Estate Pros with Marte Cliff Copywriting

A real estate ad on the radio made me stop and wonder if anyone would consider the high price of homes a good reason to sell.

The agent on the radio was being "interviewed" and was asked "Is now a good time to sell?" He replied that yes, it's always a good time to sell, but it's especially good right now because prices are so high. 

That did not make sense to me. I wonder if it made sense to others listening to that ad. 

My answer would be yes, it is a good time to sell.

But only if...

  • The house in question was a rental and the owner was tired of dealing with it. 
  • It was a seldom-used vacation home. 
  • The occupant wanted to downsize soon.
  • The occupant wanted to quit being a homeowner.

Otherwise, selling because prices are high makes no sense. 

After all, you'll still want to live somewhere, and the price to replace that home will also be high.

Do you agree? 

 

Comments(5)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I do really believe everybody has their own time and timing to do what’s right for them. :))

Apr 15, 2024 11:04 PM
Marte Cliff

I agree Laura Cerrano. You should sell when it makes sense to do so.  

Apr 16, 2024 07:31 AM
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Great points, that said, I am surprised more folks are not up for downsizing. 

Apr 16, 2024 03:46 AM
Nina Hollander, Broker

Michael Elliott hi Michael... I'm 75 years old. I downsized 18 years ago from 6,000 square feet to 3,300 square feet. It's perfect for me and my husband. I see no reason to downsize further despite so many people asking when we will downsize. When asked, I just tell them I already did, 18 years ago.

Apr 16, 2024 04:09 AM
Marte Cliff

Michael Elliott - I suppose we all have different needs when it comes to space. Some people love tiny homes, but I would go crazy, tripping over my own feet. 

Apr 16, 2024 07:34 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I do agree, Marte. Selling for the sake of selling is not a great idea, just like buying for the sake of buying isn't a great idea. If selling is part of a larger strategy... go for it.

Apr 16, 2024 04:08 AM
Marte Cliff

Yes, Nina Hollander, Broker, if you have a reason to sell, now is a good time. But it's not the time for house-hopping just because it's fun to try out a new neighborhood. 

Apr 16, 2024 07:35 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

I've always thought that too, Marte. If prices are high for selling, they're going to be high for buying too. It's always a good time to sell IF it meets your needs, but not because prices are high.

Apr 16, 2024 09:48 AM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Marte, you are so right about the best time to sell. It's when, for whatever reason, one no longer wishes (or is able) to own a particular piece of property. If you sell at a high price and intend to buy another house in the same market, you'll likely get a wash with the price. 

Apr 16, 2024 12:54 PM