What is the best time to list your house for sale?
Late spring and early fall are the prime listing seasons in our area because houses tend to "show" better in those months than they do in the heat of the summer and the cold of the winter. And of course, people like to do their house shopping when the weather is pleasant. But keep in mind that there are also more houses on the market during prime seasons, so you'll have more competition. So while there is seasonality in the real estate market , it's not something that should dominate your decision on when to sell.
What about market conditions-price trends, interest rates, and the economy in general? Should they have any bearing on when I list?
Probably not. Even if you're under no pressure to sell , waiting for better market conditions is not likely to increase your profit potential. It's possible to sell your house in any kind of market , provided it's priced right and effectively marketed.
How long should it take to sell?
Average listing times vary from 30 to 180 days, according to market conditions; and of course, price, terms, condition, location and exposure play an even greater role. Selling in any market is easier if you keep time on your side. Most professionals will tell you that allowing yourself at least six months will put you in a position to get a better return from their marketing efforts.
How do I price my house?
Today's residential real estate market is no place to look for easy profit. That's not to say you can't get what your house is worth. You just have to be realistic about its value, and price it accordingly. A good place to start us by determining the fair market value.
What is "Fair Market Value" and how do I determine mine?
Fair market value is the highest price an informed buyer will pay, assuming there is no unusual pressure to complete the purchase.
To get an estimate of fair market value , call a local broker and ask for a Competitive Market Analysis (CMA) of your house. Most brokers will provide this service free of any charge or obligation.
The analysis will give you a realistic figure based on the most salient points of the local real estate market. It should provide information about recent sales of similar houses, including how much they sold for and how long it took. The broker's price opinion is very helpful in determining the right price.