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Contact Howard!

Howard Harris Real Estate Expert

Mortgage Rates



Is Now A Good Time To Sell Your Home . . . Well That All Depends

May 22

filed under: Real Estate, Selling A Home

If you have been driving around Fountain Hills lately then perhaps you have noticed an increase in “Sale Pending” signs from say a year or so ago.  You are also hearing or reading about homes that are now selling within days or even hours of hitting the market. Then there’s your neighbor that just sold his home for over asking price and today you just read an article about homes increasing in price some 14% from a year ago. Is this deja vu or what, I mean is it happening all over again, are we starting to have another 2005. Is now a good time to sell?

Well that all depends. It depends on what your home is worth, can you afford to sell, can you find another home if yours sells, should you wait because you think prices are going to keep going up. So you see the decision to sell now is definitely going to depend on your situation.

I can tell you that even though prices have gone up, which by the way is great for all of us, many homeowners in Fountain Hills will still not be able to put their homes on the market because they still owe more than their home is worth. That’s just a fact. If you are not in that situation and want to put your home on the market because you are looking to relocate, then you definitely have a window of opportunity right now to sell your home. Buyers are out there, they want to buy and inventory is low.

If you think you want to sell but believe prices are going to continue to go up and you want to recoup even more of the losses you have endured over the past several years then perhaps waiting to put your home on the market is the right decision for you. Of course you need to keep in mind that not only could your home continue to increase in price, but so will the home you want to trade up or downsize to. Then there are the interest rates which are at historic lows. How long is that going to last?

What to do, where to start, how are you going to make the decision if it’s a good time to sell or not?  My advice, start with finding out what your home is valued at in today’s market. It doesn’t cost you anything for a Realtor®, that would be me by the way,  to do a complimentary comparative market analysis of your home. Knowing the current value of your home is good to know whether you decide to sell or not.

Spend some time looking to see what is on the market, is there a decent selection to choose from if you want to purchase another home. If purchasing another home is part of your plan then you definitely want to find out if you can get another mortgage. The the lending standards and approval process of today are not what they were when you purchased your existing home. You certainly don’t want to find out after you have sold your home that you can’t get a mortgage for another home. Perhaps purchasing another home isn’t what you want to do. Maybe you would like to rent. Check out the available rentals and how a rental will fit your lifestyle.

Need some help with any of these things, contact me, I would be happy to do a free market analysis of your home or take you out and show you some existing homes for sale or for rent. Need a mortgage referral, I can help you with that as well. I am a real estate agent, this is what I do. Let’s find out if it’s a good time for you to sell or not, but lets get the facts first to help you make that decision.

Written by Howard Harris