Friday, October 18, 2019 / by Jennifer Gilbertz
If you are considering selling your home and live in the greater Spokane, WA area there are several items to consider before taking the leap and listing your home for sale. One of the most important questions home seller’s have is, “How can I net the most equity from the sale of my home?”. Let’s be honest, moving is stressful enough, and the homes selling process can seem daunting. However, if at the end of the home selling rainbow you can have some cash on hand that can be the cherry on top of this massive life and financial transaction. As a full-time Spokane, WA Realtor I get frequently asked when the best time to sell a home is. This depends on several different variables.
First question to ask yourself is; What’s my time frame for needing or wanting to move? If the answer to this question is – I need to move right away, well then, the answer is pretty cut and dry and should list as soon as possible. A knowledgeable Spokane real estate agent will be able to guide you through the selling process and give you a list of all your best options, strategies, and tools that will help your home sell quick and for top dollar.
Second question if you are not in an incredible hurry to sell your home is; What’s my home selling objective? AKA why am I selling? If you are planning to sell your home in the near future, you have a couple of points to consider. A) What is my current interest rate versus the new interest rate I will have on my new mortgage? B) How much equity do I actually have in my current home? C) How much am I currently pre-approved for a new home loan? And D) Am I moving in the same housing market and if not, what is the current housing market where I would like to move to?
Lastly, if you have the answers to all these questions and are able to list your home at any time during the year my best professional real estate advice is to list in early spring. It has been shown year after year in our area that the housing market considerably slows down during winter months. We still have buyer activity, however the number of home sales during the winter is considerably less than the rest of the year. Come end of February and early March home buyers are starting to think about making a move literally and figuratively. Most people get an IRS refund during this time which they can apply to their home buyer’s costs and with the weather improving people are more likely to want to get out of their house and start to look at the home inventory that is available.
If early spring will not be an option for you to list your home for sale, fear not, the summer months are also a prime time for selling a home in Spokane, WA. With the cost of living in Spokane, WA is comparatively less than other urban areas in the Pacific Northwest and the amount of people transferring to our area, the spring and summer months have also shown that selling a house during this time is also financially sound. The Spokane, WA real estate market tends to start cooling off in November and picks back up in January.
For further educational blogs on videos on home selling go to Jennifer.Viewhomesinspokane.com