If you’re wondering whether the fall is a good time to sell your home, I have some good news for you. Here are four reasons why fall is still a great time to sell.
If you’re thinking about listing your home and are worried that summer selling season is over, I have some good news for you—the fall is actually a great time to list your home. Why is this? Here are my top four reasons:
1. Demand is extremely strong. As we talked about in the last video, there has been an 18% increase in the number of pending home sales, which means that there are still a lot of buyers out there looking to buy homes.
2. There is less competition on the market. Once the school season starts back up, many people choose not to list their homes on the market. We’ve seen inventory decrease by 18% as well, so this is a great opportunity for you to take advantage of as a seller.
3. The mortgage process is quicker. Because there are fewer homes on the market, there are also fewer deals happening overall during the fall, and this means that you can actually get a quicker closing on your escrow. The mortgage companies really have everything fine-tuned right now and don’t have as many files coming through as they did in the summertime, so it’s a great time to get that loan in and close quickly. I’ve seen loans close as quickly as 21 days!
4. It’s a great time to move up. You probably have a lot of equity built up in your current home, especially if you’ve owned it for longer than three years. This is a great time to cash in on that equity. What’s nice about this is that when you cash in on that equity, that’s tax-free money. If you’re single, you can keep up to $250,000 tax-free, and if you’re married, you can keep up to $500,000 tax-free. You can put this money into anything you want, including an upgraded house. This is also a great idea because, with interest rates as low as they are right now, you can lock that rate in for the next 30 years or so.
If you have any questions about buying or selling a home during the fall, give me a call or send me an email. I’d be happy to help you!