When Is the Best Time to Sell Your Home?

Fall is here, causing many people to ask, “Should I sell my home now or wait until spring?” There are four main reasons why you should put your home on the market this fall.

Fall is here and a lot of people are asking, “Should I sell my home now or wait until the spring?” I believe there are four reasons why it would be better to sell your home now rather than waiting for spring.

In my opinion, the number one reason to sell now is to take advantage of low interest rates. Rates are hovering in the 2.9% to 3.5% range, which is practically free money. I don’t anticipate those rates staying low much longer.

Why not? It’s an election year. I have been through eight elections already and, after each one, rates typically go up. The government holds rates down to make their party more favorable; once the election is over, rates will go up. It is highly likely that rates will be higher next spring. That’s the second reason you should sell now because higher rates do affect your home sale.

Interest rates are low, but they will go back up soon.

Another reason you should sell now is the low inventory. In some of our marketplaces, we’re seeing as little as 30 to 90 days of inventory available on the market. A couple of years ago, those inventory levels were significantly higher, with six months of inventory available. There will be more homes on the market in spring, which means you will wind up competing with more sellers. Since inventory levels are low now, you’ll have a better chance of selling your home.

Finally, in my opinion, the seller’s market is coming to an end. I have been doing this for 35 years and I’ve talked to brokers all over the United States and they agree. In fact, certain markets like California and Florida are already seeing the seller’s market change. Inventory levels have gone up to 180 days and prices are not going up any higer. If you are thinking of selling your home, you should sell now before the seller’s market ends.

In short, selling your home this fall is actually more advantageous than waiting for spring. If you have any questions about preparing your home for the fall market or about real estate in general, give me a call or send me an email. My team and I would be happy to help you!

Milwaukee Real Estate: How to Determine What Your Milwaukee Home Is Worth

 

There are many great Metro area homes for sale. Click here to perform full home search, or if you're thinking of selling your home,click here to contact us for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (262) 797-6453 or (262) 798-1162 for a FREE home buying or selling consultation to answer any of your real estate questions.

Many homeowners want to know what their home is worth before they put it on the market. How do buyers determine the value of your home? In other words, how is market value determined?

First, though, there are a few misconceptions about home value that I would like to clear up:

• Home value is not based on what you want or need to pay off your loan amount. 
• Home value is not based on what your neighbors think you should get for your home. After all, neighbors are biased. 
• Your tax assessed value does not reflect market value. Tax assessed values can be off by as much as 20%. 
• The appraised value is not the same as market value. If you have an appraisal that is a year old, it is based on outdated information. 
• Home value is different from your insurance value. Insurance companies insure the house for the rebuilding or replacement cost, which is much higher than market value. 
• Sites like Zillow cannot determine home value with just a computer algorithm. 

Home buyers determine the market value of your property by looking at the features and benefits of your home (how many bedrooms, bathrooms, square footage, etc.) and compare your property to other homes on the market. They look at recently sold properties similar to yours to see what your home is worth.

What have similar homes in your area sold for?

Real estate agents can help you figure out your current market value. Give us a call if you are interested in a free home pricing report or if you have any other questions. I would be happy to help you!

The Benefits of Using a Home Warranty to Sell Your Home

There are many great Metro area homes for sale. Click here to perform full home search, or if you're thinking of selling your home,click here to contact us for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (262) 797-6453 or (262) 798-1162 for a FREE home buying or selling consultation to answer any of your real estate questions.

What are the benefits of using a home warranty to sell your home?

Our company and team actually use another company called Home Security of America (HSA), and they provide warranties on the sale of existing or used homes. This coverage actually covers all the mechanical systems in a home, such as plumbing, electrical, heating, air conditioning, water heater, and even the appliances that are included in the sale of the home. It covers the buyer for up to one year after closing.

On a single-family home, the cost of the coverage would be $564. If it was a condominium, the cost would be $535. The buyer is then able to extend that beyond a year after they buy it.

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A home warranty makes a buyer feel more comfortable.

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Many of our sellers are using this as a marketing tool to sell their home. If they do provide it up front, the seller actually gets free coverage on items while the home is listed for sale. For example, we just had a client who had a water heater replaced while the home was listed and got a brand new one for a nominal deductible of $100.

There are two main benefits:

• First, it’s a great marketing tool. If your home has a warranty and another competing property doesn’t, that may make the buyer feel more comfortable in buying the one with a warranty. Plus, all new construction has a builder’s warranty for one year.
• Secondly, it adds peace of mind. This is especially true in cases where a seller may have older components in their property, such as an older furnace, air conditioning, plumbing, or electrical. All of that is covered for the buyer for up to one year after closing. They also don’t have to actually replace these components. If you have a 20-year-old furnace that still works, you can keep the furnace and offer a home warranty!

If you have any questions about the home warranty or how the process works, please give us a call at the Roth Team and hopefully we can answer them. Thanks, and have a great day.