The Best Time to Sell a Home
Spring is the ideal time to sell your home, and as the current housing market is in a state of flux, many homeowners are eager to take advantage of the spring market. However, interest rates have been rising and are expected to continue to rise throughout the year, which has created a sense of urgency among homebuyers. Therefore, if you’re planning to sell your home in the spring and buy a new one, it’s important to act now to avoid any potential surprises.

Interest Rates Are Rising

Interest rates have been rising and are expected to continue to do so throughout the year. This has created a sense of urgency among homebuyers who are eager to lock in lower rates before they rise even higher. If you’re planning to sell your home and buy another one, it’s important to act quickly to take advantage of current rates.

Market Analysis and Pre-Approval
Getting a market analysis done early can give you a ballpark figure to take to a lender. The lender can then present options for buying your next home. It’s critical to get pre-approved for a loan for your next home before selling your current one. Speak with your lender about what you need to do financially to ensure mortgage approval.

Avoid Unpleasant Surprises

Given the unpredictability of interest rate increases, It’s impossible to predict when interest rates will rise again, which is why it’s important to get your home on the market as early in the spring as possible. This will help you avoid any unpleasant surprises and ensure that you’re able to take advantage of current rates before they rise again.
Although the exact timing of interest rate hikes is impossible to predict, it’s important to take action sooner rather than later to avoid the negative impact of rising rates.

Get Pre-Approved for a Mortgage

The worst thing you can do is sell your home before being pre-approved for a loan for your next home. Therefore, it’s essential to speak with a lender about what you need to do to ensure mortgage approval if you plan to buy another home after selling your current one.
This will help you understand what you can afford and ensure that you’re able to secure financing when you’re ready to buy. Speak with a lender about what you need to do to ensure mortgage approval.

Prepare Your Home for Sale

Spring officially starts on March 20th and lasts until June 21st, giving you plenty of time to prepare your home for sale. If you have repairs to be made inside, spend some time during the weekends to get those knocked out. You may also want to consider staging your home to show it off to its fullest advantage.

If there are any necessary repairs, homeowners should take advantage of the weekends to complete them. It’s also essential to get a market analysis done early to determine a ballpark figure for selling, which can be taken to a lender for potential buying options.
Although not all homes require staging,  it will be necessary to come up with a plan to show off the home’s best features. By taking action early and preparing their homes for the market, homeowners can take advantage of the demand that typically arises during the spring and summer months

Don’t Wait

Jonathan Smoke, the chief economist for realtor.com, warns that waiting to sell your home when interest rates are moving up could end up costing more than selling sooner and locking in today’s rates. He says, “Waiting to sell could also mean having to wait to buy when there are even fewer homes available.”

Therefore, if you’re considering selling your home, it’s advisable not to wait. With rising interest rates, delaying selling could eventually cost you more in the long run. As Smoke explains, higher financing costs will eventually dampen demand, making it harder to sell your home. Therefore, it’s best to sell early in the spring market to take advantage of the current rates and avoid having to wait to sell when there are even fewer homes available.

 

As a Coldwell Banker affiliated agent, I have the tools and resources to help you:

  • Set the right price for your home
  • Locate qualified prospective buyers
  • Shorten the amount of time your home is on the market
  • Sell your home for the highest possible price

Don’t go it alone. Leave the sale and marketing of your home to to the Expert Team at www.homesinSDCounty.com and achieve the results you deserve. Give us a call today so we can get started.

If You Need to make improvements, make repairs and update your home before you sell, but don’t want to pay upfront costs Learn about RealVitalize a Coldwell Banker program provides home sellers with Repairs, updates and home improvement resources to prep your home for sale, and Highlighting Your Home’s Best Features for Sale – prior to or during the home listing period with no up-front out of pocket costs or hidden costs or interest fees. Seller pays back only the amount of services utilized at time of closing.

Buy or Sell – Our pledge is to make your Real Estate dreams come true

Real estate can be a complex and ever-changing industry, which is why the team at www.homesinsdcounty.com  is committed to staying informed and up-to-date on the latest market trends and innovative strategies. Whether you’re looking to buy your dream home or sell for top dollar, we can provide you with the knowledge, expertise, and support you need to achieve your goals.

Ready to buy or sell a property? Don’t navigate the maze alone – give us a call today and let us guide you every step of the way. Don’t wait, contact us today! 🏠👍

We are also here to help you with any questions or needs you may have in any City or State in the USA. We work with an Amazing Team of Agents throughout the USA and Globally – We Can connect you with a reliable member of our National network if you need one.

If you have friends, family or neighbors who are considering buying or selling a home, we at HomesinSDCounty would love to assist them. And please don’t hesitate to call me if there’s anything we can do for you!

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