Should I stay or should I go – When is the right time to sell

During the last few days, I have often come across this question: “When should I sell?” At the risk of sounding like I don’t want to help you sell your home, the answer is it depends. To help answer the question more specifically, please take a look at the following scenarios:

– If you’re moving up, you should sell now (as in pick up the phone and call me).  Two main reasons:

(a) Appreciation: The neighborhood you’re targeting is likely to go up in value at the same or higher rate as your current neighborhood. At this time, and given current demand, The Woodlands price points are predicted to go up. This said, the home you are targeting is likely to be more expensive if you wait. Likewise, if you’re planning to move into a new construction home, you should run, not walk, to identify a home and lot as prices have been increasing steadily month over month.

(b) Interest Rates: They’re still extremely low in real terms, and there is a real risk in waiting, as rates are more likely to go up than down given the most recent rate forecasts. I don’t have a crystal ball so can’t pinpoint a date when that will occur but I can assure you that when that shift occurs, the house you are following right now will result in a higher monthly payment.

– If you’re downsizing, you can wait. Assuming that interest rates don’t skyrocket, of course, and that you are relying on financing to get your new home. The conventional wisdom is that if you’re buying a smaller, less expensive property, it might be a good idea to wait a bit to realize the appreciation from your current home.

I realize that not everyone fits into these general scenarios – and a personal assessment is the best way to determine what your specific needs and goals are. Call or email me if you’re considering selling your home – and we’ll be glad to help you identify the right strategy for you.

 

About Danny Sanchez

Joining Rianne's award-winning team after a successful career as a Program and Operations Manager for a global outsourcing firm (with Fortune 100 companies as his primary clients), Danny has seen The Woodlands grow to what it has become today since 2001. An advocate for innovation and perfecting the Best Possible Real Estate experience, he understands very well that clients always come first. In his own words, "success looks like clients feel that they don't have any needs - because you've more than anticipated them."