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Timing is Everything: Are you Ready to Sell your Home?

Making the decision to sell your home is one of the most important financial decisions you will ever make and generally ranks second only to buying your first home. As difficult as that decision can be for many home owners; however, there are actually many other decisions that must be made in the process of actually selling your home. Other decisions you will need to make include finding the right listing agent for your property, determining the right listing price and deciding on a marketing plan that will highlight your home appropriately. In addition, while many homeowners might not give much thought to it, there is also the matter of deciding when to sell your home.

Unfortunately, this is an area where many homeowners commonly err. There are several factors that should be taken into consideration when making the decision to sell your home including emotional, financial and even situational factors that could impact your decision and the eventual results. Remember that the market is constantly changing. The market you will face when listing your home today is not the same market it was a year ago or even a few months ago, for that matter. Your local area can play a tremendous role in determining exactly when the time is right for you to sell your home; however, your own situation can also impact it. When all factors are taken into consideration, it is important to remember that the right time to sell will be somewhat different for everyone. The key is to find the time that is right for you.

Of course, obviously, there will be times when you simply do not have the luxury of waiting until the time is right for you to sell. For example, if you have recently been transferred in your job or you must move out of the area due to family reasons, this will create an immediate need to sell your home and move regardless of what else might currently be going on.

If such factors are not present; however, ideally the best time to put your home on the market is when you are emotionally ready. This is a large component of finding the right time to sell your home that many homeowners, unfortunately, overlook. For most homeowners the process of purchasing a house and investing the time and money required to make it a home is a large emotional experience. Selling your home when you are not emotionally ready can make the entire process far more difficult than it needs to be.

The best way to combat this problem is to be very clear about what you can and cannot afford in a new home and exactly what you need in your next home. Taking the time to determine specifics regarding your needs can make the transition much easier.

When considering selling your home it's also a good idea to consider what's going on at specific times of the year. Many agents find that spring tends to be the best time of the year to list your home, particularly if you have children. Families with children frequently list their homes during this time of the year because it allows them time to go through the process of selling their home and hopefully realize a closing at the end of the school year. Likewise, this time tends to coincide with the time period when many families are looking at buying a home in order to provide their children with time to move into a new home in early summer before school starts once again.

While fall is not as busy a time for real estate business as spring, it still sees quite a lot of action, especially around October. This is because many prospective buyers are looking to find their next home and get settled in before the holidays arrive.

The two slowest times of the year tend to be winter and fall. Of course, this doesn't mean that you won't be able to sell your home if you must place it on the market during this time of year; however, you may need to do a bit more marketing and expect the process to take awhile longer.

In the end, the best time to put your home on the market is when you are really ready to sell it and are serious about doing so. Those sellers who aren't completely committed to selling their home should wait until they are serious about it. Putting your home on the market when you aren't ready, or when you only want to test the waters, makes it far more difficult on yourself as well as your agent and even prospective buyers.

If you feel hesitant about placing your home on the market, take the time to analyze what may be holding you back from committing to the sale and give yourself the time you need to be ready. Waiting until the time is right for you will ensure a smoother, less stressful transition.



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