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Determining the Right Time to Sell Your Home To determine the best time to sell a home in your area, let's talk about it. Tell me why you're selling and when you'd like to move by. With my knowledge of the local economy and housing industry I can can tell you whether you are in a buyer's or seller's market. A seller's market is the perfect time to sell a home because the demand for homes are high while the number of available homes on the market is low. A seller's market can occur at any economic or geographic level. That is why it is possible for the housing industry to experience a slump in national sales while in specific geographical areas of the country, homes sale within hours of hitting the market at double or triple the price of similar homes in adjacent neighborhoods. The key to selling a home in a sluggish economy or buyer's market is to aggressively market your home, listen to my advice and be prepared to make compromises. A buyer's market is a bad time to sell a home because the demand for homes is low while the number of available homes for sale is high. This is often the case when a community's major source of revenue ceases to exist (factories shutting down or military base closing). When such a catastrophic event occurs in a local economy, homes often glut the market as people scramble to find jobs in other cities. Whether it is due to a catastrophic loss of jobs in a local economy or a simple job relocation, those sellers who can't wait for a reasonable offer may find themselves making up the difference between the mortgage and the sales price just to unload their homes. |
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