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The best time to sell your home
The 5 market signs that scream now is the time to sell
1. Shortage of houses for sale
Pay attention to the data, If you find that Real Estate listing numbers are shrinking It is a great time to sell as property values are a direct reflection of supply and demand. So if there is less stock on the market then prices will increase $$$.
2. Home loan interest rates are falling
Every time the reserve bank of Australia cuts or increases the official cash rate, investors and homeowners experience changes to their mortgage repayments. This means more or less borrowing power, either way financial changes can make it time to downsize or upgrade real estate. In todays current climate the cuts to interest rates on mortgages has certainly increased borrowing power for many people pushing property prices higher.
3. Your needs have changed over time
Life is certainly different at 50 compared to early 20s. Kids, pets and recreation items make their way into domestic life. The house that seemed huge before kids can feel like the equivalent to a brick and mortar straight jacket. Likewise, your kids may have all grown up and those 4 or 5 bedrooms are just dust collectors so changes in circumstances are often a sign that it is time to upgrade or downsize.
4. The dollar is softening
When the Aussie dollar falls foreign investor demand rises, it also triggers interest in Aussie expats looking to buy back home before retuning to live on our fair shores. Those buyers jump at the fact they can get more bang for their buck via the exchange rate. Their foreign earned dollar goes further in the Australian housing market than it would if they where to purchase real estate in their offshore market.
5. Holidays are upon us
If it’s almost Christmas or Easter it can indicate a great time to list your property for a quick sale. A spike in buyer enquiry to agents usually happens in the lead up to Christmas and Easter as most people want to be in their new home before eating chocolate eggs or Christmas lunch or the new school year begins. Thanks to this seasonal urgency buyers are usually more likely to pay a premium if it means they can be all settled in before the holidays are over.
So if you see one or more of these signs it may be time to sell... If you're thinking of selling, please do not hesitate to give us a call. We're here to help!
by Chris Pole (First National Burleigh) The best time to sell your home palmbeachfn.com.au November 2019 First National Palm Beach
Cnr of 6th Ave & Cypress Terrace, Palm Beach, QLD 4221 Ph: 07 5559 9600