Is now the right time to sell your home in Skagit County? Here are some of the signs that tell you it is:
Real estate market trends are favorable to home sellers
- According to Zillow, the Skagit County real estate market is hot, with home values in February 2020 rising by 5.3% over the previous year. Zillow predicts that Washington home prices will rise another 4.8% this year.
- As of January 2020, Realtor.com says homes in the county sold for approximately the same price as their listing prices, indicating a balanced market, or one where the supply of homes is more or less equal to the demand
- As of March 2020, interest rates have fallen to their lowest level at 3.29%, which could likely spur home buying throughout the US
Your family is growing
Is your home always cluttered with toys, books, and new baby furniture? Do you need more closets but don’t have space to spare? Is a parent moving in for better homecare? If your home is getting too cramped, then it’s probably time to buy a larger property with more room for everyone’s needs.
Your lifestyle needs are changing
If you have growing kids, perhaps it’s time to think about getting a home with a large yard, or one with a good public school and parks or open spaces nearby.On the other hand, if you’re a retiree and the kids have all flown the nest, it probably makes good sense to move to a smaller home that doesn’t feel too empty and requires less maintenance.If your home and neighborhood are no longer serving your needs, then it may be time to move on to something more suited to your new lifestyle needs and learn how to get your house ready to sell.
Moving makes good financial sense
Sell your home only when you’re financially ready – and to many, that means having positive equity. The significant rise in home values recently may have improved your equity, and you probably now own more than you owe on your home. Find out how much your property is worth on the market today so you can determine your equity.On the other hand, if your home is too much of a financial burden, then it might make better financial sense to sell it now. It’s best to consult a financial expert or mortgage lender about your options in selling a house in Washington state.
There are other financial considerations to look into before making the decision to sell:
- Do you have other debts and obligations? Are you still paying off a student loan? Do you need funds for a child’s college education? Other financial obligations can make paying for a new mortgage difficult. If you’ve paid off all your non-mortgage debts and still have enough left over for emergency funding, then that’s a good sign you’re ready to sell your home.
- Where are you moving into? If you’re planning to move into a more upscale community, ask yourself if you can afford the lifestyle that comes with it. For example, you may need to pay additional fees for the privilege of using the community pool or golf course. You may also have to spend more to maintain a larger home with high-end features.
- Do you have enough funds for the cost of selling a house? You might need to spend on home improvements and repairs to get your property sale-ready. In addition, you have to set aside money for moving costs, such as the moving company’s fees and packing supplies.
You’re emotionally ready to sell your home
Before putting up your home for sale, make sure you’re ready to let it go and detach yourself from it. It’s hard to say goodbye to a place where you’ve made a lifetime of memories. On top of that, you’ll likely need to declutter and depersonalize the space to make it more appealing to buyers. That means packing away your photos, memorabilia, and mementos, which can be a highly emotional exercise. When you put your home on the market, expect potential buyers to come and scrutinize it closely. Keep in mind that they will not have the same emotional attachment to the property as you. You may have to listen to reasons why they think your home is not good enough, or why they believe it’s worth less than what you’re asking for it. Ask yourself if you can keep your objectivity through it all.
Selling your home can be a stressful experience, and this is why it’s important to work with a Realtor who understands your needs and can help smoothen the journey for you. That’s what we’re here to do. Call us, The Groesbeck Group, at 360.941.3734 or email Info(at)JeanGroesbeck(dotted)com.