Deciding whether to sell your house now or wait is not an easy decision. There are always crazy things going on in the world. Surprisingly, the real estate industry has held strong. Many would argue that real estate values continued to climb over the past 2 years because of low inventory and low interest rates. The limited housing supply caused prices to increase. Allow it was raining cats, dogs, and anxiety throughout the pandemic, real estate stood strong. BUT, here we are. Homeowners are losing confidence in their ability to sell a house quickly and efficiently. In many markets, houses are beginning to sit on the MLS instead of selling in <10 DOM. YIKES! What does this calamity really mean for homeowners trying to get rid of their properties?
We are here today to help you decide if you should sell your house now or wait until the world stops turning upside down.
Sell My House Now
Are you seeking clarity around the decision of whether to sell your house now or wait? You are NOT alone! Many homeowners are trying to decipher the real estate market and determine what the short-term and long-term hold for values. I mean, we are all here because we want the absolute highest price for our home, right? That’s 99% true. Certain homeowners may be in a rush to sell and prioritize time over price. Obviously, they don’t want to sell for pennies! But they may be content with shaving a few thousand dollars off of the final sale price of their home if it means getting and accepting an offer ASAP.
Here are several reasons why a homeowner would want to sell a house quickly:
- Moving out of state
- Recently inherited a house
- Job change
- Hit the lottery and moving to Malibu, California
I would suggest that you ask yourself this question and be brutally honest with your thoughts: “What do I prioritize more, time or money?” It doesn’t have to be completely one or the other. However, starting with this question will help you decide on the timing of selling your home. Do you need money right now? Then selling your house in the near future could be your move! If you are planning on moving soon anyway, you can take the plunge and sell your property now. For homeowners that are on the fence and feeling things out, waiting may be a better option!
Wait to Sell My House
There’s no time but the present… except for the future. Are you in a rush to get rid of your property? If not, it’s not a bad idea to wait things out. All homeowners’ situations are unique and come with different baggage. Waiting to sell your house can come with a few benefits. Depending on future real estate values, you can earn more profit from selling your house later versus right now. That, of course, can only be precisely predicted with a ball made of the finest crystal and a pinch of luck. Typically, over long periods of time, real estate values go up. That is not a guaranteed law of real estate, but it’s likely to happen as long as the United States continues to do ‘ok’ as a nation. Local economic factors also come into play for real estate values. When real estate values are going down, it can be harder to successfully find a buyer for your property. When the real estate market is doing great, it’s easier to get multiple offers even when selling a house as-is. The market fortunately (and unfortunately) dictates a good chunk of the outcome for home sellers.
Consult with a Professional About Selling Your House Now or Later
Are you still unsure about selling your house now or later? That’s ok! You’re (again) not alone with this thought. There’s so much up in the air with the world and economy (it feels like this at most times in life anyway) that it can be difficult to make a decision. What do we recommend? Talk to a professional who either works in real estate or has been in your shoes before. Do you know someone in town that recently sold their home? Talk to them and get their perspective. Again, everyone has different factors in their lives that influence decisions. Consider speaking with a real estate professional to get their opinion as well. You never know, they may want to buy your house from you themselves!