Posts from January 20th, 2020
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List it and Leave it : Knowing When It's the Best Time to Sell
For many individuals, deciding to purchase a home is one of the most important decisions they will make. However, another equally critical decision is deciding when to sell your home. Though our real estate agents can give market insight to assist with your decision, you must also weigh your financial situation and individual needs. Here are a few things to consider as you decide when to sell your home.
The Amount of Equity You Have in Your Home
The amount of equity you have in your home is an important factor in your decision to sell. If you're upside down in your mortgage (you owe more on the loan that your home is worth), it's likely best to wait to sell your home. When you're upside down on your home, you'll either need to bring cash to the table to cover the difference or get your lender to agree to a short sale. Both options are costly, and a short sale will damage your credit.
Your Local Real Estate Market
Your local real estate market is another important item to research when deciding when you want to sell your home. When possible, wait and sell your home when property values are on the rise. This will help you obtain the highest price you can for your home. Even though no one knows exactly when Spokane homes for sale will secure the most money, your real estate agent can offer valuable insight into the current and future state of your real estate market.