As we look ahead to the winter months, are you considering selling your home? If the location or size of your current home does not fit your needs, finding a house that better suits your lifestyle may be a top priority. But with today’s housing market, is it really a good time to sell your house, or should you wait?

Let’s look at the market: Is it a sellers’ market or is it a buyers’ market? A sellers’ market is when there are fewer homes available than there are current buyers actively looking. Remember supply and demand?  A buyers’ market is when we have a healthy inventory. When we have more houses on the market and there are fewer buyers looking for homes. Buyers’ market, the buyer is in more control. Sellers offer more incentives, closing costs, home warranties, or more. Sellers’ market, the buyer sometimes goes higher on the price, there may be multiple offers, forego inspections, or more. Just remember, if you are selling and buying at the same time you almost never have a sweet deal on both sides. You usually don’t sell high and buy low at the same time.

So now to the interest rate. Let’s face it—we are spoiled. When I got into real estate 20 years ago interest rates were around 8 or 9 percent. I wasn’t in real estate in the 80s when interest rates were over 15 percent.  I remember asking an agent what the rate was when she and her husband bought their home and she told me 16 percent. I about fell over. But I remember her saying, yes, they were 16 percent,  but I refinanced when the rate went down. That’s the same now—if the rate is more than you are used to, when the rate goes down, refinance. Remember as I have said before, you have two options. Rent and pay your landlord’s house payment or own your home and build some equity. The market will always either be a sellera’ market or buyers’ market and the interest rates will go up or down. You pick the time.

So, if you are ready, get one step ahead of other sellers. Homeowners are less likely to list their home toward the end of the year because of the holidays. But this can make your home stand out (also less inventory). You will also have a chance with the serious buyers that are looking right now. Your home may be just right for them.

You will know when it is time. Look for the signs and start the process with a Real Estate Professional. Check out your options—this may put your mind at ease.

Have a Merry Christmas and see you next year. And remember, IT IS A SELLERS’ MARKET NOW. BUT IN THE SPRING….WHO KNOWS?

Until next time, Jeannie