Should I Sell My House? Pros & Cons of Listing It Now

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• 4 Questions to Ask Before Listing Your Home For Sale •

Considering selling your house? At one point or another, all homeowners will begin contemplating this soon enough – but don’t panic when the thought crosses your mind. Whether you’re ready to embark on life’s next big adventure, expand your living quarters, or change locations, the idea of selling your home can seem quite sudden. As with any big change, these thoughts may be overwhelming, confusing or even scary.

However, it’s important to find clarity about this choice. Before jumping into a home selling process, take some time to explore the circumstances that are leading you towards making this decision. Maybe it’s the right choice but not the right time, or maybe some changes need to be made before listing your property.

In order to get the most out of your decision, ask yourself these 4 key questions to decide whether it’s the right time to sell your home.

Why Do I Want to Sell My House?

When homeowners first start thinking about selling their property, the initial reaction should be to look inwards. For most people, real estate transactions will be the largest deals made in their entire lives – but it’s about more than just finances. A home is far more than just a place to live. It’s where life happens, where residents feel safe and secure, and where you spend most of your time.

Before choosing to sell a home, you should investigate the unique motivators that are driving you to make this decision. Why do you want to make this change? What are you looking to do in the future? What are your real estate goals? What emotions are attached to this sale? By answering these inner questions, you’ll be able to see if this is the right move to make. With better insight, you’ll be able to take a powerful stance and make the most out of this deal.

How Long Will It Take to Make the Sale?

Once you know that you’re ready to begin the selling process, it’s time to dive into the specifics. When thinking about selling your home, sometimes people forget to factor in the detail of time. You need to start creating a timeline for your home’s sale to see if it’s realistic.

Many people don’t know this, but timing plays a large role in the real estate market. There are times of the year that are most advantageous to start selling your house. Timing can affect the closing price of your home, days on the market, and the costs associated with the entire transaction.

DOM (days on the market) is one of the best statistics to gain insight on how long it will take a home to sell. DOM represents the number of days between the time a property is listed and when the final deal is closed. Many factors affect a property’s selling time, such as the time of year, economic factors, and the local market conditions. To get a clear idea of your potential transaction time, look into similar properties in your area and their DOM.

How Much Is My Home Worth?

Aside from time, money is also a key factor. The best way to find out how much your home can sell for is by comparing the value of similar properties. This research will provide insight into the realistic price ranges you’ll be working with. Look for homes with the same number of bedrooms and bathrooms, a similar size, and comparable amenities. If you’re looking to get a more exact sum, consult a professional agent or realtor service.

What Is My Current Home Equity?

Sellers will ideally have enough equity to cover the sale’s costs, pay off the remaining mortgage, and costs of moving into your new home. If you find out that you don’t have enough equity to comfortably make the sale, it may be best to wait it out. Studies have shown that it takes about 5 years to build up sufficient equity to move, sell, and pay off remaining balances. This is referred to as the 5 Year Rule, and it can significantly help sellers achieve their real estate goals.

Confidence and clarity are keys to success in any endeavor, so make sure you’ve covered all the bases. Once you’ve asked yourself these questions, you’ll be ready to move forward with the sale.

Have questions about selling your home? Reach out to your local Reali Agent to learn about the benefits of selling your home with Reali.

The Bottom Line

Call us at (858) 880-0195 or email portia.green@reali.com to get started.

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About The Author
Portia Green, REALTOR®

Portia Green is a highly experienced full-time REALTOR® specializing in the representation of Sellers, heralded by her clients as data-driven and an effective negotiator. Producing $25M total in residential sales volume, Portia's goal is to help her clients achieve the best results when selling their homes and to make their experience an enjoyable one. She has successfully sold real estate since 2008 and has gained an in-depth knowledge of local real estate markets & seasonal trends. Portia has achieved a 100% customer satisfaction rating and wants to share her expertise & personal service with you in the sale of your home. When listing your home with Portia Green and Compass, you'll receive the hands-on service you need and desire. Portia will help you manage the entire process of selling your home from pricing, preparing and staging the house, to marketing, negotiating offers, inspections, all the way to closing. She will recommend skilled vendors for any job needed, personally host Open Houses, and ensure that all showings are accompanied. At Compass, Portia offers a wise no-nonsense way to sell your home for the best price and the least hassle. With a keen eye for staging & preparing listings to maximize Buyer appeal, all of Portia Green's listings are professionally photographed using HDR (High Dynamic Range) photography to provide the highest quality photos in the industry. Professionally printed marketing materials are prepared for all Open Houses. We also capture a 3D scan of your home that creates an interactive walkthrough online along with a custom-designed floor plan and targeted digital marketing campaigns on Google & the most popular social media channels. Compass participates in the Multiple Listing Service, which is the local real estate database of homes listed for sale that all REALTORS® use in helping their Buyers find houses. Your home will appear on every real estate website, in its best light, making a stunning camera-ready debut. Portia Green's home valuation expertise and extensive experience in comparative market analysis will help price your home accurately. She has refined her skills to help you pinpoint which features of your home will result in more showings and better results. Her mantra is for you to be ready to sell your home and feel good about that first. Portia knows that home inspectors always find a problem; that drones take some of the best photos in town; and that her eyebrows will grow to the floor in the time it takes her to read everything that's happening with your HOA, but that doesn't mean she won't do it anyway. Eyebrows be damned. You'll always need a place to unplug, connect, dream, grow, or just be yourself. That makes what Portia does even more meaningful. She’s ready to go the extra mile to help you find just the place. Whether you're selling your very first home, offloading an investment property, or want a vacation getaway with passive income, she is attentive to the details of every home sale. Portia helps busy people navigate this crazy real estate market like a pro, so don't be shy. Every great relationship starts with free advice and a friendly chat. Ask as many questions as you need to. Selling houses is her jam! www.portia.realtor