Is Now The Right Time to Sell My Home?

At Red Robin Group, we hear the same question almost every day. Sellers know the real estate market is still slow and they want to know if now is the right time to sell their home, or if they even can sell their home right now. The answer to these questions is… maybe.

It’s true that this is the worst real estate market for sellers (the BEST for buyers) that we’ve seen in quite a long time. There is a lot of inventory on the market and many sellers have resorted to drastic price reductions to sell homes – builders and investors in particular continue to put out good product at very competitive prices. It can be really hard for a home owner to compete when it comes to selling their home.

To be sure, a seller must have a strong level of motivation to put their home on the market in the current real estate environment. What might constitute a high level of motivation?

1) A job transfer. If your company has mandated that you move or you have a great opportunity for a new job in another city or state, you are likely in a position that you have to sell your home, no matter what it means for the bottom line.

2) Loss of a job. Unfortunately, in this economy, some people have lost their jobs and have been unable to find other employment in a timely manner. Getting out from underneath a mortgage may be necessary to make ends meet.

3) Children starting school. Many sellers find themselves searching for homes in a good school district for their children.

4) Trading up. One of the strongest motivators we see for sellers in this market is the phenomenal opportunity to “trade up”. While it’s not the best time to sell a house, it is a FANTASTIC time to buy a house. We are still in a strong buyer’s market in Atlanta, which means prices are low and there are a lot of homes to choose from. And, interest rates are at an all-time low. So, many sellers are willing to take a hit on selling their home in exchange for being able to buy a house that they wouldn’t be able to afford in a better real estate market. A better neighborhood. A bigger house. A great equity position. All of these can be great reasons to take a loss on the sale of a house.

If you are wondering if you should sell your house in the near future, call Red Robin Group at 404-254-5206 or email agents@redrobingroup.com for a complimentary consultation and market analysis. We can provide you with information to help you decide if now is the right time to sell your home.