Thinking about selling your home but unsure whether the timing is right? In the aftermath of media bombardment and plummeting prices while unsold homes still remain sitting on the market sellers have reason to be hesitant and wary of the circumstances. Nevertheless, this article is geared towards reaching that place of comfort and confidence in making your decision and taking that important step in the right direction.

First and foremost you will need to check out the local market conditions as they will without a doubt affect the amount you can sell your home for as well as how fast you will be able to sell it. You can price your home at one amount, but the market may price it at another, and that’s what buyers will look at first.

I think we can all agree right now that the current conditions in the market favour the buyer. There are more homes than buyers, many options and unfortunately lots of competition from other sellers. As the prices have dropped overall, houses are taking longer to sell and so it seems as the logical answer in this scenario is to wait out the market’s current status.

However, there still exists several good reasons to sell now. Whether or not you have a pressing reason to move right now, such as a change in career realizing that you are up to your elbows in kids, there is still a demand for good priced homes. Often what happens in desirable neighbourhoods is that homeowners get scared off by the media and don’t put their homes up for sale. Believe it or not, but there is actually a shortage of renovated homes in good areas, which have been selling either at or above the asking price. Despite the daunting headlines, the truth is that the prices and sales today are not that drastic. Last March had only 8% more sales than this year and the difference in pricing has only fallen 3% since 2008. The core of the issue really lies in the fact that while in the past years the market has been primarily in the seller’s favour, where buyers frantically competed for homes, now it has become more balanced.

In this current market seller’s accept a vast range of reasonable offers and their homes properly priced sell within an acceptable time period.

Prices are more stable without as many intense bidding wars. Whatever the circumstances, selling a home can be a trying process to go through both emotionally as well as financially. Consider your neighbourhood, what buyers want in a home and look to the market to negotiate the best price.

Related Posts

No related posts.