When should you put your home on the market after the Holidays?
When is the best time to put your home on the market?
As a potential homeowner looking to sell, the most important factor is how much competition your home is likely to face when on the open market. How much inventory’s out there that is similar to your home, because that’s what you’re going to have to be competing against.
Today we are seeing a major ramping up of new construction in all of the major marketplaces that we focus on… Leavenworth, Chelan, Wenatchee, Okanogan County, Grant County, Moses Lake, Kittitas County.
Why is there a massive amount of new construction? Because there’s money to be made. Builders are confident to build homes because home prices are way up. And material prices are finally coming down, and the margins are very attractive for new home builders.
We don’t know if it’s a good time for you to sell your home, but we can tell you this, the more new construction that hits the market is going to make it harder for you to sell your older home.
Many homeowners are sitting on a ton of equity right now, but in the near future, all that equity may be going to someone else like a new home builder.
There are many advantages when you buy new compared to old. Generally speaking, buying new tends to lead to fewer repair bills in the near term. Buying new also has the latest technology, which is great for efficiency and dependability. This leads to lower energy bills and that is very important to home buyers on a fixed income and buyers worried about their environmental impact.
What is in good condition now that won’t be in good condition in the future? What is in style now that’s not going to be in style in the future. It is important to start thinking about these things now so that you can plan out a strategy to maximize your home sale. For example, I remember five years ago, sellers had to replace carpets, they had to paint the house, they had to replace the roof. They had to do all of these upgrades to compete against new construction because the buyer’s looking at two homes going, I can get a brand new home for 300, or I can buy your home for 260, right? It’s a $40,000 difference. But if I buy your home, I’m going to have to put 40 into it. So why go through the hassle when I can buy new.
Right now, supply’s low, but nobody’s talking about the supply that’s coming around the corner and newer homes with modern amenities. Modern amenities, meaning upgraded appliances, smart homes, cutting-edge technology.
If you have any real estate questions, or you just want some real estate advice, please reach out, 509.255.8076
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