All Articles on Selling | Back to Previous Page
Reasons to Sell |
Getting Financially Organized |
Preparing to Sell |
Your Real Estate Team |
Listing Contracts and Commissions |
Marketing Your Home |
Closing the Deal |
After You Sell
Reasons To Sell, Market Conditions
Reasons to Sell, Selling in a Strong Market, Selling in a Slow Market
Reasons to Sell
Our goal is to help you make the right decision about whether or not to sell your house. People's reasons for wanting to sell their home are almost as varied as the homes themselves. Here are some of the more common reasons that prompt sellers to put their home on the market:
- School district
- Better job opportunities elsewhere
- Desire to move into a smaller home
- Neighborhood shopping
Selling in a Strong Market
While your personal and financial situation is clearly an important factor in deciding whether and when to sell your house, the state of your local housing market may also influence your decision.
Selling during a strong market
- Be cautious of overpricing your house. You may get less from the sale than you expected, and the sale could take longer than it would have if you'd priced the property correctly.
- Be careful about timing the sale of your current house and the purchase of your next one. Be cognizant of the market conditions in both the area that you're selling and the area that you are moving to.
Selling in a Slow Market
If you have sufficient equity in your home, you may still be able to net a respectable amount of money by selling, even in a slow real estate market. As long as the sale fits in with your overall financial situation, it's usually a safe decision to sell your house.
- All real estate markets go through up and down cycles. Over the long term, housing prices tend to increase. So, if you sold a home during a down market, odds are at some point you'll also sell a home during better market conditions. And if you're staying in the same area or moving to another slow housing market, you're probably simply trading one reduced-price house for another. If you're moving to a more expensive market or a market currently doing better than the one you're leaving, you do need to be sure that spending more on housing doesn't compromise your long-term personal and financial goals.
- Renting your property: If you must move or relocate and don't want to sell in a slow market, you can rent out your home until the market turns around. If you convert your home into a rental, be sure that you understand the tax consequences of this arrangement.