Should You Stay or Should You Go?
In today’s market, I’m talking with a lot of homeowners who are considering a move but are on the fence for a variety of reasons. They are having concerns about being able to find something in the needed time that they want, finding something in their price range on their needed timeline, or are holding out for future market gains in home values. All three of these ideas are valid in the current market. Thinking about selling in this market? Here are a few things to consider today:
1. In any market selling a house can be quite a challenge due to emotional attachments from history, memories, etc. And it can also be very exhausting to keep your home show ready and have people visiting your house constantly and criticizing it in detail. In this current market the average days on market is 45 days with an average of 35 days to close making the whole process 76 days in Dallas County or 70 days in Collin County. I’ve seen this cycle reduced to 18 days total depending on the price point and type of buyer (cash vs. financing). If you are also looking to buy, because the market is in the Seller’s favor, Sellers are asking for 30–60-day FREE leasebacks, giving yourself some cushion on time to find your next abode.
2. Focus on the business transaction and not the emotional part if you are wanting to capitalize on the equity in your home. It goes without saying that with proper pricing and positioning strategy this is a GREAT market to be a seller in. If you can separate yourself from life’s demands and the other emotional aspects of selling, can stomach potentially temporary (or what may become long-term) transitional housing until you find what you want, then you’ll be saying “Show me the 💰💰” about the decision to sell.
3. Hire THIS REALTOR as an agent in the trenches actively representing buyers and sellers in a very dynamic market across the Metroplex. I know what it takes to win on all sides of the transaction and can guide you wonderfully through the entire process. From the price of the house to its presentation, I know pricing, positioning, and marketing strategy to attract the qualified buyers to your home to get you TOP DOLLAR in this market.
4. Be flexible and PATIENT. If you are a Buyer once you become a Seller, know that concessions, CASH and extra CASH are king. In this climate, cash offers are beating out financing but it’s not impossible to snag a home with financing. Appraisal discrepancies are expected to be resolved with extra cash from the Buyer, and contingencies in favor of the Buyer are almost a thing of the past (market depending). I’m actively working with my clients to help keep them from overpaying but know your offer should match your motivation.
Most importantly, as a soon-to-be Seller, lead with empathy all the way through close rather than with dreams of the payday at the end of the rainbow🌈 (closing day). Remember how you felt when you bought the house, or how it feels to be an active buyer in this market. It can be frustrating as buyers are missing out on the homes they’ve long-dreamed of, placing offer after offer, only to be denied. This will help you put yourself in the buyer's shoes and understand how it can be in this topsy turvy Dallas Fort Worth real estate market. I’m happy to help guide you through it as always!
