Monday, 17 April 2023
Sell your home NOW Why would salespeople fear a recession? What it really does is reestablish the value of our customers. At this time more than ever we have to remind ourselves that our customers are valuable and we provide value to them as well as their REALTOR®️
It's a wonderful reciprocal relationship.
I'll never forget one of my first clients being so excited when she was buying her first home, that she screamed when signed the buyer representation agreement. She startled my colleague who was working at a desk nearby, but then he cracked a smiled at her. Seemingly, her exciting reminded him if how exciting serving our customers is. Now, I'm getting ready to sell the house they bought nine years ago. We're about to go full circle and I couldn't be more proud of them. We've build a trust with each other that is something I didn't expect from becoming a REALTOR®️. We are paid in far more than a commission cheque.
Every client teaches me something and we grow together. Every situation is different. I love being able to guide my clients and referrals.
Selling a house is a big decision that requires careful consideration, especially in today's day and age, especially given all the changes in our economy recently. The mortgage rates have risen over the past year, making sellers question if this is a good time to sell. Short answer, IT IS! But, let me tell you why.
One of the most important things to consider is the current state of the housing market. Tracking the amount of sales and new listings is very telling. Currently in Niagara we have had a increase month over month in both areas as more people list their homes for sale.
Don't forget, there's less competition at the higher end of the market. If you're looking to upsize, you'll likely do very well on your sale, and have your pick of homes at a higher price range.
Have the rates been increasing? Yes they have. When the rate increases first started, buyers were a bit more cautious to purchase because they didn't know when the rate increases were going to stop or for how long. But the good news is, the interest rates have remained the same for the last two Bank of Canada announcements. This makes buyers feel more stable, and they are out there and they are making offers, trying to get into a place before another rate or price change.
Another key factor to consider is the value of your home. If your home has increased in value since you bought it, selling now could mean a significant profit. We are beginning to see modest increase in home values. They are just increasing at a more gradual pace. A general rule of thumb, if you purchased 4-5 years ago, you will see a significant increase in your homes value and this is still the case even in today's economy.
Your personal circumstances can also play a role in whether it's a good time to sell your house. For example, if you need to downsize or relocate for a new job, you may need to sell your home regardless of market conditions. Even if you do, NEED to sell, market conditions are good, so there is nothing to worry about
