How Can I Know When It's the Best Time to Sell My House?
When is the best time to sell your house? I have been asked this question several times in the last few weeks and months. In this video I show an example of how you cannot predict the market.
When you think you are at the highest point of the market and you sell your house, you could have sold at the right time and made the most money you could on the house or the prices could keep going up. So you do get a great price at this time and then the market goes down a little bit, which it does, it rocks up and down. Very exciting to make more than expected on your house!
Then, the price of homes takes off again like it did this year and it just keeps going up so the house you sold is worth more money now than it was a year ago.
So, this is a great time to sell your house if you’re doing a lateral move, if you’re moving from a three bedroom to a four bedroom, or you're just moving into a different area.
On the flip side, it may not the best time if you’re going to just sit on your money and wait to buy something later on. In other words, if you’re going to sell now you need to buy now. The housing prices have went to about 19% in 2020 and, as of right now, we’re looking at about 19% for 2021 here in our area.
While we can’t predict the future, the housing market is expected to keep going up next year. Interest rates seem to be moving up, as well, so now would be the time to act if you’ve been thinking about it and waiting around. It’s a great time to sell and move into a new house!
Call or text me and let’s see what’s good for you and help you make a plan! (251) 367-7430
Check out this 3 bedroom remodeled Creole/Farmhouse in Roseland Heights in Semmes. All natural beams, wrap front porch, shiplap accents, painted hardboard exterior, remodeled bathrooms, this home looks great! A large lot, the long driveway leads to the 2 car garage; Behind the garage is a BONUS 2 bedroom studio apartment!
Walking in, the home has been repainted and updated with luxury vinyl plank floors and updated bathrooms. The kitchen has split brick floors, granite counters, and a white subway backsplash. It really is a cook's kitchen - with lots of room to work! The master bedroom has a nice accent wall, and leads to a master bath with a jetted tub, separate shower, and updated vanity.
Each bedroom has a en-suite bathroom AND did we mention the bathrooms look great!? Down the hall from the living room leads to a bonus room with a full bath off the back of the home - lit with LED can lights - a very large space for entertaining.
A unique feature, the home has 2 laundry rooms: One off the kitchen and the second in the garage. The studio apartment has a combo living/kitchenette style common room, 2 bedrooms, and a full bathroom, not included in the 2700+ sq ft. This beautiful home is being sold AS-IS, NO REPAIRS.
Call me at (251)367-7430 to schedule a private walk-through or with any questions.
Dream big in 2021 by transforming this home for sale in Mobile, Alabama into your dream house! This 3 bedroom/2 bath brick house for sale is located in Princeton Woods, a well established neighborhood in Mobile! The owner will even replace the AC unit before you move in.
The roof has already been replaced for you in 2020. Entering through the front door you'll find a large formal dining room to your right.
There is ceramic tile throughout the house. The kitchen has a brand new refrigerator and stove! I, especially, love the window over the sink letting in the natural light!
Out back you'll find a nice sized fenced in yard and a 2 car carport with storage room.
Overall, it's a good solid brick home built on a slab in a great established neighborhood! For the price, you're not going to find a better home to transform and make it your own!
Great house with a great view on number 3 Fairway at Heron Lakes Golf Club! You'll love living on a golf course in this well laid out patio home for sale in Mobile, Alabama!
This spacious home has the master bedroom and guest bedroom on the main level. Downstairs you'll find two bedrooms, family room, and bath. The kitchen has great cabinets with plenty of counter space, a large pantry, and a breakfast room with a view of the golf course.
The large master bedroom has a double windows that overlook the golf course. The master bath has a garden tub and walk-in tiled shower and his & her vanities. The master bedroom closet has generous space and with two entries from the master bathroom and hall.
Open floor plan living area with fireplace and two doors to entry the screened-in porch facing the golf course. There's a large dining room perfect for family gathering and entertaining for the holidays. This home, also, has a two-car garage with enough room for a golf cart.
Take your golf cart to the Country Club for a meal, a game of tennis or golf, or to use the wonder fitness center and pool! It's resort living all year long with so many club amenities included in the homeowner association dues.
This is a question we're getting every day, especially in this season we're in right now! However, unlike the stock market, which is reported nationally daily, real estate is hyperlocal, meaning it depends on your specific community. Thus, it’s not reported on daily. Some may base their answer on how their personal real estate business is doing, but a true real estate professional looks at your neighborhood and community as a whole and bases their answer (and predicts demand and pricing) on these five key indicators:
1. Volume of active listings. As this volume decreases, prices increase because there is more demand and not enough inventory. We saw this during the spring of 2020 once the pandemic hit and sellers became hesitant to list their homes on the market, but buyers have stayed active and are running out of options in our area. We need more houses!
2. Median sales price. The median sales price usually trends in the opposite direction of the volume of active listings: If the median sales price is down, the volume of active listings is rising because there isn’t enough inventory.
3. Time on market. This is an indicator of how much demand exists. If a listing’s time on the market is low, it means demand is high. Right now, looking at the stats, houses are at a HIGH DEMAND!
We're in a 3 month market meaning if we do not list another house, we will be out of houses in 3 months. Our buyers need more houses!
4.Ratio of active-to-pending listings. As this ration narrows, demand increases. When the number of pending listings equals the number of active listings, there is good demand. When the number of pending listings exceeds active listings, then you know you’re in a red-hot market.
5. Sales price versus list price. If the average sales price matches the average list price, it means demand is up. If there is a lot of volume, activity, and inventory, but demand is low, the average sales price is probably lower than the average list price. If there are fewer listings on the market, demand will increase, and you’ll see prices being bid up and multiple-offer situations multiply. Therefore, the average sales price and the average list price will match.
In our current market, we sometimes see a home’s sale price surpass its list price. However, in our local and national markets, lending policies and appraisal practices are conservative and holding back prices. Even though a buyer may want to buy a house above its list price, the lender and appraiser will hold back the appraised value, so the buyer may not qualify to buy that house. Keep this in mind if you’re a buyer, and always seek the advice of a real estate professional.
Make sure you're working with a professional who can help you navigate these crazy times and can negotiate multiple incoming offers for you and make sure you get the best price for your house.
If you have any real estate questions or are thinking of buying or selling a home, I’d be happy to help you however I can. I'd love to here from you!
Sitting in a gazebo in the middle of the lake you can see this beautiful 4 bedroom/7 bath home with 5,500 square feet! At the end of Shady Lane, peeking out of the woods, next to Auburn University pasturelands sits this stunning two-story Craftsman designed by Walcott Adams Verneuille Archetects.
Only the finest materials have been used to craft this well thought-out floor plan. Brazilian Cherry, Granite, Travertine cover most surfaces. You're met with elegance as you climb the travertine stairs and enter through the 7' high x 6' wide handmade arched mahogany front doors clasp with custom brass hardware.
Inside you'll find high ceilings, 3-part crown molding, and craftsman trim on every opening. The kitchen is fitted with Stainless Steel "GE Monogram" appliances including a 6-burner gas range with a center griddle.
A sunny, open staircase wraps around the 1st floor library bringing you upstairs to 3 bedrooms, 3 baths, a huge bonus room, a 2nd laundry room, and a 3nd set of stairs leading to the kitchen. The master suite not only has his & her closets with built-in shelves and drawers, but it, also, has his & her baths!
Hers has a jetted tub for soaking and a separate shower. His bathroom has wall-to-wall travertine bath, wheel chair accessible roll in shower. The theater comes with an overhead projector and a 96" screen-- great for anything from movies to football games!
Sliding doors from the theater lead to a covered porch with a 48" wood burning fireplace with a gas starter. Two more sets of double doors lead to your very own secluded wooded resort with built-in gas grill! The salt water pool has two waterfalls and a hot tub.
If you ever lose power, you'll only be out for a couple seconds because the on demand, 20kw, whole house, natural gas generator will kick on, never leaving you in the dark!
What a gorgeous and spacious 4 bedroom/2.5 bath home in Theodore with gunite pool, two-car garage, and storage shed! All on a cul-de-sac, too!
A great lush front yard to welcome guests! Once you enter the home, you'll find the formal dining room, which would be a great space for an office or school room. Then, you'll find the living room with plenty of windows looking out to the backyard and pool area.
The living area has trey ceiling, gas fireplace, beautiful floors, and opens to the kitchen/breakfast nook.
The warm colored kitchen has granite countertops and stainless steel appliances. Plus, plenty of cabinet space.
Spacious master suite with tray ceilings, two closets, and a door leading to the screened-in patio. Perfect for sipping coffee in the early mornings before rushing to get ready for the day.
The master bath has ceramic tile with his and her sinks, a corner whirlpool tub, and a nice tile shower- plus, high ceilings and sunlight coming in!
Enjoy relaxing on your own property with a nice sized screened-in patio overlooking the lush backyard with mature palm trees, gunite pool with pavers around it, and a shed for extra storage!
Interactive 3D Virtual Tour
Use your mouse (or finger on phone/iPad) to move around each room and get a closer look inside.
Here we are at the end of August 2020 and the real estate market in Mobile and Baldwin County Alabama is FAST-PACED!
What do I mean by this? Houses are FLYING off the market. Recently, we had 8 offers come in on a house listed for just 3 days, leaving 7 disappointed buyers still searching for their perfect home.
It can be frustrating for buyers seeing a brand new listing online and by the time they try to set up a showing, it's already under contract. Thankfully, this isn't my first rodeo and I love a challenge and thrive on problem-solving. But, overall, this brings up two things:
#1--Buyers are actively looking for houses that just aren't there. We need more options for them. If you've even thought about selling this year or next, now is the time to find out how much your house is worth in this market. The time to sell could be sooner than you think!
#2-- The questions keeps coming up of WHY are people so eager to buy houses right now? The answer is simple: Why NOT now? With interest rates this low, it's a great time to be a buyer.
Just make sure you're using a full-time realtor that can devote their time to multiple offer issues and are available to jump on something immediately. Have your pre-approval ready and let's get ready to move! And if you don't have a realtor yet for either buying or selling and think I might be a good fit, don't hesitate to contact me for a complimentary buying/selling consult!
Do you have questions about the Mobile or Baldwin County real estate market? I'd love to hear from you, give me a call, text, or email!