Why is now the best time to sell? Last weekend we put an offer in for our client on a home that just went on the market. There were three other offers. An advantage to selling now is there are serious buyers out there looking for homes right now. Another advantage to selling in the winter is the focus is on the home and not the yard. It’s easier to prepare for showings because you don’t have to worry about grooming the lawn and plantings.
Why is it a good time for buyers? There are always more buyers in the Spring looking for homes, and that means more competition and more work in putting in offers that you may not get. More buyers also drive the prices of homes up. As of this date, the interest rate is around 4.75, and depending on your credit score, it can fluctuate. The market is expected to steadily increase this year.
What to do first? Get in contact with a realtor you can trust to evaluate your home. We provide free estimates of how much you can expect to list your home for by completing a market analysis; we work with you on a price to sell that you’re comfortable with, and then we provide an estimate of how much you can expect to receive at closing. We meet clients at their homes, have conference calls, and meet them where they are comfortable.
Secondly, get in contact with a mortgage officer to review your credit score. A good mortgage officer can help you in many ways. They can make recommendations on how to improve your credit and they’ll provide an estimate of what you can afford in the future. Then when you’re ready to start looking for a home, they’ll provide you with a preapproval letter so you’ll be prepared when shopping for homes. When submitting offers on homes, a preapproval letter should be attached so the listing agent knows you can afford the home. After meeting with a mortgage officer, you’ll have a better knowledge of your credit score and you can take steps to increase it to receive a better interest rate. It can save you a lot of money by meeting with them at least 6 months in advance of purchasing a home. Contact us for a referral to a professional mortgage officer.
Meeting with a realtor and mortgage officer is kind of like a check-up. You’ll build knowledge about the home-buying process and your finances. When we meet with potential clients, we provide a list of what they can do to sell their home the quickest and for the most money. It’s up to the clients the extent that they want to work on, such as painting, packing away extra furniture, or even putting things in storage. We’re getting our Spring market lined up. Feel free to contact us to set up an appointment for a free consultation.