Real Estate is not a perfect science. People often say that it is ‘all about timing’. They are correct! Similar to stocks, when selling real estate, you make money when you sell. Even if you buy at an extremely low price, your bottom line still depends on the final sale. There are countless factors to consider when answering the question of when to sell my house in Philadelphia. Below, we will explore the factors that can help you maximize your profits after the sale of your home.
Selling a House on Your Timeline
First thing’s first. You need to evaluate your own timeline when preparing to sell a house. Do you have a graduation coming up? Are you planning to shuffle around other finances that you have? Do you need to move out of town by next month? There are dozens of reasons why people decide that they need to get rid of their property. Here are the most common reasons that we come across when we buy houses in Philadelphia from homeowners.
Sell My House In Philadelphia Today
As I am writing this, we are currently going through a pandemic. Surprising to many people, real estate prices in Philadelphia have not been negatively affected. Actually, they have gone up in many neighborhoods, such as Brewerytown and Fishtown. Nevertheless, many homeowners are still throwing their names in the hat and trying to sell their properties right now. Many of which are having success. Some real estate investors have pulled out of the market in fear of prices dropping in the Fall. On the flip side, there has been a huge surge of owner-occupant home buyers that are flooding the market. This is due to the current low-interest rates that are available. Owner-occupants that plan to live in their house with their partner or family for 20-30 years do not care as much about the immediate values dropping as long as they can lock in a low-interest rate on their loan. It is not a bad time considering selling a property today.
Choosing a Time of Year
Any Philly native is aware of how cold it gets during the winter months in the state of Pennsylvania. Not only does the weather get cold, but so do buyers’ wallets. This is standard across many cities in the United States. With real estate, timing is everything. It behooves homeowners to prepare to sell property during the Spring and Summer. These months bring more buyers and typically drive higher home prices when they are purchased. Summer usually bodes the strongest home prices but Spring can also be a great time to list your property on the market. Don’t shoot yourself in the foot and try listing in December. This can work if your property is priced really well, but you may not receive all of the offers you expect to.
There are plenty of decisions you will need to make when figuring out a game plan for your property. Consider these factors if you have asked yourself when should I sell my house in Philadelphia. Evaluate your personal timeline. Look at the current economic landscape. Then, choose a time when it will be best to sell your home. If you are curious what your property is worth, call Brotherly Love Real Estate for an instant cash offer (215) 769-9875