Selling your home is a major decision, and given rising mortgage rates and concerns about the economy, you’re probably hearing wildly different opinions about the current state of the real estate market. But here’s what the facts and figures actually show: Summer 2023 is an excellent time to put your house on the market.
Here are the top reasons why you should sell your home this summer:
It’s a seller’s market
Despite higher mortgage rates, many parts of the country are currently in a seller’s market. This is especially true in the Glens Falls area, where potential buyers outnumber the available homes and, on average, houses sell within a month of listing. This high-demand/low-supply dynamic creates a competitive situation, increasing your chances of multiple offers, a higher price and a quicker sale.
Summer is peak buying season
Warm, sunny weather makes it easy for house hunters to get out and tour homes. Summer is also when houses look the most beautiful, with sunlight streaming through windows bringing a feeling of cheer and optimism to interiors.
Longer days also make it easier for potential buyers to tour your home. In fact, Howard Hanna, one of the top family-owned and -operated real estate brokers in the country, offers twilight open houses. These extended hours not only allow buyers to tour after work, but showcase your home in the artistic light of what has been called the “painter’s hour.”
So make sure your outdoor areas are at their best. Lush lawns and colorful blooms make for instant curb appeal — and spruced-up yards, patios and decks allow buyers to envision the good times they’ll have in their new home.
Interest rates may rise even further
Many economists predict that the Fed will continue to raise interest rates for some time. This could drive many buyers out of the market, leading to decreasing prices as the year progresses. So listing now could certainly work to your advantage.
And if you’re waiting for rates to return to rock-bottom levels, be aware that it could take a long time. In fact, historically, over the last 50 years, it’s only recently that fixed-year mortgages have fallen below 5%.
When a real estate brokerage guarantees buyer satisfaction — sellers have a huge advantage
Howard Hanna offers a remarkable program — a 100% money back guarantee for buyers — and it does exactly what it promises.
Here’s how it works — if the buyer of a Howard Hanna–guaranteed home isn’t satisfied with the purchase, the company will buy back the home for 100% of its purchase price. The benefits and peace of mind for buyers is obvious — but it’s also an enormous advantage for sellers. Homes with this guarantee sell faster and bring higher prices. And there’s no charge for sellers to enroll a home in the program.
Some excellent resources for sellers
Homeowners looking to put their home on the market should check out Howard Hanna’s online seller resources, where they can more accurately assess their home’s estimated value.
The company also provides another great advantage: They’re a one-stop shop, taking care of everything you need from listing to closing.
For more information, visit howardhanna.com.
