It’s summer and many of today’s Twin Cities residents are enjoying the good weather. It’s grilling time with family, hiking at Minnehaha Park, and of course, all of the weddings, graduations & cabin getaways there is to do. But, it is also the ideal time to sell a home.
With limited inventory in homes for sale in the area, sellers are under pressure to be ready to move as soon as they list their home for sale. In such a hot market, there are some outstanding benefits to listing right now. And, with the help of a skilled real estate agent, it may be easier than you realize to get your home sold for the highest possible price.
But, how will you move so fast? What should you consider before your list your home for sale this summer? Do you really have time to list a home for sale now, with all that summer brings with it?
What Are the Pros and Cons of Listing Your Home for Sale in the Summer?
Put aside the financial benefits of selling a home in the summer for a moment and consider, for example, what is happening around the Twin Cities right now.
1. There’s More Time to Show Your Home
The freeways are not as crowded since many home owners travel during this time. If you’re traveling, that’s okay. There’s more time to allow your agent to showcase your home even if you are not there. Imagine coming home from vacation to learn your home has been sold at top dollar!
The days are longer, there’s more time to stop by after work for a showing, and your yard is in full bloom!
2. People Need Homes in the Twin Cities Now
But, in our area, this is also a time of transition from out-of-state. People are moving into the area as they prep for the new school year. This is essential for those relocating to the area. Jobs are plentiful throughout the Twin Cities. This is pulling more people (potential home buyers) into our community. Many of these buyers are urgent to buy now. Your buyer is available.
3. The Real Estate Market Is Primed for Sellers
There’s also the financial component of listing now as well. The area is seeing a significant amount of interest from buyers. In some areas, homes are selling within a matter of days. This also has created competitive scenarios. You may be able to get more than one bid on your home at full price. This could drive up your home’s sale value – in some cases. You’ll sell your home, most likely, at the best price and the fastest rate right now.
What Are the Pros and Cons of Waiting to List Your Home Until You’re Ready to Move?
Some home sellers feel pressure to be ready to move as soon as they list. And, if you are planning to buy a home before you sell, you are already dealing with tight and limited inventory. How can you list your home for sale if you cannot find one you want to buy? It’s challenging, but there are some solutions available to you.
The other option you have is to wait. Waiting can be a good option for some people – especially if you are not ready to list for other reasons. As a buyer, this can help you to find a home for sale faster with less competition, however, as a seller, waiting until the fall also means fewer buyers in the market for your listed home.
Another thing to keep in mind is buyer motivation now. Many prospective buyers are rushing to purchase now before interest rates climb as experts are predicting. As rates tick up and the summer hot buying season winds down, it may be harder to find the buyers you want who will pay you that top dollar for your home.
Solutions to Your Biggest Concerns
Sure, you want to be biking your Sundays away and spending time with the kids at the Minnesota Zoo. Yet, spending a few hours listing a home for sale offers rewards. To overcome the struggles you are facing about whether or not to list your home for sale, consider the following tips.
1. Financing Options to Support Your Transition
A big concern for many home sellers is having the funds available to make the move. You cannot buy a new home until you sell your existing one. Bridge loans can help to fill this gap. Many lenders offer them, and they do offer enough flexibility for most people. As a seller in transition, bridge loans can help you to cover the purchase while you wait for your home to sell. This can also help you to better manage real estate inventory concerns you may be facing right now.
2. Working with Home Builders Effectively
If you are building a home and waiting for the home to be ready to move in, you may be frustrated with the limitations you have. Some builders offer builder financing. These are either provided by a builder’s preferred lender or the builder itself. This is more of a streamlined transaction because the builder is more likely to approve you for the loan. There may be options for a buyout here, too. In short, the builder may be able to help you cover some of the lending concerns you have. And, if there are new construction delays, you are not crippled by them. Listing home for sale opportunities make sense in this scenario.
3. Choosing a Temporary Housing Solution Between Sale and Purchase
If you are struggling to find a home for sale you want to buy, due to the new listing shortage, intermediate or temporary housing is available. Various apartment and home rental companies offer short-term leases. You can place your unnecessary items into storage inexpensively. Rent a home or stay in an efficiency apartment for a few months until you find your dream home. This allows you to sell your home right away, putting cash in the bank. And, this is an attractive feature both for home lenders and buyers.
Are You Ready to List or Need More Information About Timing Your Listing?
Who you list with matters.
Lisa Ash, a REALTOR serving the Twin Cities area, is available to discuss your home sale with you today. With her award-winning strategies, she’s able to help sellers list at the right time, ensuring the very best outcome possible. She’s consistently ranked in the top three agents on her team of 188 agents.
When you need a trusted, reliable agent to help you with listing your home for sale, put Lisa Ash at the top of your list.
612-701-8368
