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It's Almost Setpember! Can I Still Sell This Year??

by Colleen Lawler

As school starts back up I often am asked if it's best to wait until next year to sell.  Truthfully, buyers buy and sellers sell all year long!  If they didn't I could take a few months off, but in 28 years THAT has NEVER happened!

Often, listing inventories start to fall, and sellers see fewer properties competing for their buyer.  This year, with a forecast that includes a tick up in interest rates over the next 6-9 months, buyers will want to beat the increase.  A 1% increase in interest rates will impact a buyer's borrowing power by about 11%, and that's a pretty good motivator. 

The third quarter often sees more relocation buyers than the 2nd quarter.  Those buyers may need to be in their new position by the start of the new year, and will want to move at the semester break if they have children.

Fall can be a really nice time to shop for homes.  The weather is not too hot or too cold, and the fall colors will make your home look appealing to buyers.  There simply isn't a reason NOT to list your home for sale, or to consider coming off the market this time of year.  

Should I wait until after the holidays to buy?

by The IrvineTeam

I met with a buyer today who doesn't really see himself making a decision and buying a home until January or later.

There can be lots of reasons for waiting...saving for a better downpayment, waiting for a lease to come to and end, cleaning up a credit score issue.  One of the things I've learned though, is that I KNOW what is happening today, and I have NO IDEA what will be happening tomorrow, much less months from now.  This is important when you think about interest rates, market inventory, pricing, et cetera.

Timing is always important.  Even if you aren't planning on a purchase for 3 months, learn your market by seeing homes, not just visiting them online.  If you see something that really is perfect, don't let it become the one you let get away because it didn't meet your time frame.  Talk to your agent about making an offer, and pushing that closing date out to meet your needs.

I once put a contract in on a house in January, and we closed in mid June.  It was not new construction!  It was nice to get all the inspections done, get the loan in place, and then relax and know where I was headed, even though it was a while down the road.  I don't even recall right now why the closing was so much later than contract, except that it worked for everyone and everything was pretty low stress.  The only problem was that it didn't appraise!!! A real estate agent paying too much for a house?  Who would have thought!  Because we weren't in a time crunch, I was able to work through that to everyone's relief and satisfaction as well. 

...I'll talk about the appraisal process another time, and it will be a much lengthier post!

Displaying blog entries 1-2 of 2

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Colleen Lawler & The IrvineTeam
Coldwell Banker Gundaker
111 Chesterfield Towne Centre
Chesterfield MO 63005
Office: 636-391-2100
Toll Free: 800-791-3276
Fax: 636-536-3018