Just like purchasing a home, home selling is as difficult, even many times as hard a decision to make. Homeowners sell their homes for a variety of reasons, some of them are on the negative side such as paying the debt, hospital bills and other important reasons – and they need to sell their house fast. Most of the time, they will end up selling it at a very discounted price since they don’t have a choice.
There a lot of things to consider when it comes to selling your house. But one of the most important factors is timing. You must know the answer to the question, is it the right time to sell my house? In case you don’t have any idea in knowing the right time to sell your house in 2019, then check out this article written by The Truth About Mortgage as they provide home selling tips in 2019.
12 Home Selling Tips for 2019
Photo Credits: The Truth About Mortgage
While the recent stock market rout will undoubtedly make prospective home buyers feel a little bit poorer, lower gas prices and cheaper interest rates may have the complete opposite effect.
Regardless of what happens to the economy, chances are that those who are planning to buy a home this year, will, assuming they can find one that suits their individual needs.
1. It’s Still a Seller’s Market for Most
Similar to talk of the low mortgage rates going away, which kind of finally did, only to return again, we’ve been told year after year that the seller’s market is coming to an end.
Sure, it will at some point, but my expectation is another solid year for home sellers, perhaps with some leveling of the playing field, as mentioned in my 2019 predictions post.
2. Know Your Buyer and Appeal to Them
Along those same lines, if you’re selling a home in 2019 you’ll want to ensure it is well-maintained and on point design-wise.
The types of homes you see sitting on the market these days are consistently not updated and often not priced to take that into account.
3. Photos and Staging Matter, More Than Ever
Real estate is very emotional. While economists talk numbers, home buyers and sellers lead with their hearts.
One of the most important things you can get right (or very wrong) is photographs. Ultimately, unless you or your real estate agent is a photographer by trade or serious hobby, you’ll need to hire a pro.
To some experts, the entire housing market right now is still favoring the home sellers, which means that the start of 2019 is actually a good time for sellers to put their homes into the various listing. Also before even thinking of selling your house, be sure to stage your house properly. Take some good pictures as well to get the attention of potential home buyers.
Now going back to the main topic, Devon Thorsby of US News wrote an article with the question, Why you should sell your home in 2019? Check out the article below to know the answer to this very important question.
Why You Should Sell Your Home in 2019
Photo Source: Getty Images
Housing markets may not be as hot as previous years, but selling now could be your best bet.
Few people are predicting that 2019 will be a record-breaking year for home prices.
But relatively speaking, 2019 might be the best time for you to put your house on the market. Especially if you’re on the fence about selling this year or next, Nick Ron, CEO of House Buyers of America, recommends going with the devil you know rather than the devil you don’t.
“I think it’ll be better than 2020 and 2021 – who knows what’s going to happen in those years,” Ron says.
Home price growth slowed in the second half of 2018, with fewer buyers entering the market, at least partially due to rising interest rates issued by the Federal Reserve. In 2019, consumers shouldn’t expect homebuyers to flood the market again and drive prices through the roof, but it’s also unlikely to be a crisis for home sellers.
If you bought your house in the last year or two, still love it and don’t want to part with it, go ahead and wait another five years before revisiting the thought of selling. But if you’re weighing your options to sell, considering selling this year or maybe the year after, don’t play the waiting game.
New Buyers Are Still Entering the Market
As interest rates rise, some buyers will hesitate to make an offer on a home or apply for a mortgage, so be ready to see occasional drops in buyer activity. And if your house is at the higher end of the price range in your market, you should expect less buyer interest than before. Ron notes the combination of rising mortgage rates and home prices exceeding buyers’ budgets are what has caused the slowing of homebuyer activity in recent months.
Interest Rates Are Still Low-ish
Mortgage interest rates have been on a bit of a bumpy road over the last few months. Interest rates for a 30-year, fixed-rate mortgage reached their highest level in over seven years in November 2018, when they hit 4.94 percent, according to Freddie Mac. As of the end of February 2019, however, interest rates are down slightly to 4.35 percent, according to the mortgage loan company. While it’s reasonable to expect mortgage rates to continue to climb gradually throughout the next year, they’ll remain much lower than the historic high of more than 18 percent in 1981. Click here to read the rest of this post…
With new home buyers entering the market, which means there is more demand. Most likely your house will soon find its buyer provided that you priced your house right and within their budget. Another important data is the low mortgage interest rates, which means more and more people can afford to purchase a house thru lending institutions like banks.
Catrina Sun-Tan of Homelight also wrote an article backing up the abovementioned claims by the experts about home selling in 2019, this time data-backed reasons to sell your house in 2019. Read more below.
Strike While the Market’s Still Hot! 10 Data-Backed Reasons to Sell Your House in 2019
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As a homeowner headed into 2019, you may have noticed that real estate trends have been nothing but good for awhile now. In fact, we’re in the midst of the third-largest housing boom since 1913, with U.S. property values rising 53% on average since the start of the expansion in February 2012. That means a typical house worth $200,000 only 6 years ago is now worth $300,000. Cha-ching!
In case you needed another reason to put out the for-sale sign, here are 10 of them. All based on cold, hard data and the professional insights of housing experts.
1. Tick-tock: Existing-home sales already hit their peak in 2017
The National Association of Realtors’ (NAR) existing-home sales report measures completed transactions of existing (rather than newly built) single-family homes, condos, co-ops, and townhomes every month. The report pulls 40% of the data from multiple listing services across the country, offering inventory and price data while providing insight into regional real estate trends and homebuyer behavior.
2. Mortgage rates are going up, up, and away, making it more expensive to buy a house
The Federal Reserve implemented four interest rate hikes in 2018, the most recent of which was on December 19. In response to a rise in inflation rates and labor market expectations, the Committee voted to raise the federal funds rate to 2.25%-2.5%, the highest it’s been since 2008.
Long-term rates like mortgages aren’t directly controlled by Fed rate hikes, but rising interest rates do put pressure on mortgages, eventually softening demand for housing. A 1% increase on the 30-year fixed loan reduces the pool of eligible buyers by up to 20% in major cities.
3. Homebuyers are signing fewer contracts, so 2019 is the time to secure an offer
According to NAR’s pending home sales index, which measures signed real estate contracts for single-family homes and condos, real estate contract activity dropped 2.6% in October, highlighting the 6.7% decrease in pending home sales year-to-year.
A major contributor to this decrease is the rise in mortgage rates and drop in eligible homebuyers. Without the buying power that comes with lower interest rates, people are signing fewer contracts to buy a house.
Data shows good timing for sellers to put their house into for sale listings, with mortgage rates going up, among other reasons. It’s time to fix those areas in the house that need repairs for it increase home’s value.
If you need some help in selling your house fast, we at Dependable Homebuyers can help you sell your house fast, finding the right buyer for your beloved property. To know more, visit https://www.dependablehomebuyers.com and we’re ready to help.
