Many sellers tried unsuccessfully at some point in the past three to five years to sell their home. And many of them were frustrated by that lack of success that the market at that time allowed. Whether you listed your home unsuccessfully in the past or you are beginning to think about selling, today’s market offers a much better opportunity to successfully sell your home.
Like any product – the stock market, baseball tickets, or gold – the housing market is driven by simple supply and demand. And in recent years, demand has been low. Actually, in some cases there has been demand, but there’s been an inability on a buyer’s part to follow through on a purchase based on the difficulty of getting a mortgage. What we often saw in the years from 2007 to 2011 was sellers delivering a message of, “I paid $250,000 for my home and added $25,000 in upgrades over the last 10 years. I need to get my investment of $275,000 out of my home.”
That’s akin to calling your stockbroker with the message, “Well, I paid $86 per share for this stock. Even though I know it’s selling today at $52 per share I really need to get my money out of it. The harsh reality is that what you paid for your home, coupled with what you put into it, may not equate to market value – what a buyer is willing to pay for your home. As much as you would like to, or need to, get a certain amount for your home, sometimes the numbers don’t pencil out. That was particularly the case in recent years.
So what’s different today, and why do I think now could be the right time for you to sell?
The economic climate has improved. Consumer confidence has risen over the last four years. Increased confidence has impacted all parts of the market – including housing.
Unbelievable mortgage rates. Low rates equate to the largest possible pool of qualified buyers for your home. Today’s rates are at historically low levels.
Appraisal problems have decreased. We went through a period where appraisers were having significant challenges in establishing value because they were working out of their market area. With appraisers back to focusing on their geographical areas of expertise, this stumbling block has been substantially reduced.
Mortgage guidelines have loosened. Many lenders have relaxed their lender guidelines, and are saying “yes” to more buyers than ever before. And buyers who went through a short sale in the early portion of the housing downturn (2008, and 2009) are now eligible for financing, and are anxious to purchase.
Average sales prices have increased, and average market time has decreased. With prices rising, your opportunity to get the price you want is better than it has been in past years and your timeline to receive an offer is shortening as well.
Your needs may have changed. Have you had changes in your lifestyle (retirement, a new job, marriage, divorce, children or parents moving in with you) or your health which have changed your housing needs? If so, now may be the time to sell.
I would welcome the opportunity to talk further with you about whether now is the right time for you to sell. Just give me a call at 425-599-5601 or send an email to firstname.lastname@example.org and we can set up a time to chat!
Meet Ann Hoppe, Your Small Town Real Estate Specialist
As a native of a small coastal town, many years living and selling real estate on Camano Island, and currently a resident of Edmonds, Ann has always had a passion for small quaint towns on the water. When it comes to her business, she is committed to providing exceptional customer service, excellent local knowledge and the utmost amount of honesty and integrity.
Her former 18+ years in the residential mortgage lending business served as a great foundation for real estate, cultivating the necessary skills and characteristics that now serve her well! Whether it’s facilitating the purchase or the sale of a home, her clients are assured a smooth, professional and positive experience, in addition to a relationship that stretches well beyond the close of escrow.
The cornerstone to Ann’s business is her commitment to volunteering and being an active member in her community. Ann is currently a member of The Rotary Club of Edmonds. Call her today for all your real estate needs from Edmonds to Camano Island!
This is what some of her past clients say….
“I have purchased two homes because of my agent Ann Hoppe. She goes the extra mile to assist in finding exactly for your looking for. I would never use a different realtor. She is the best! On a scale from 1-10 she is a “20”. Verna B.
“First of all, Ann is not only a top-notch realtor, but as a person, she’s a kind, caring, and genuine individual. She made sure to respond promptly to every call and message, and she took the time to listen and make any necessary adjustments to meet our unique family needs. We’d highly recommend Ann to anyone looking for a professional and hard-working real estate agent. She’s truly the best out there.” Michael and Tina B.
“Ann Hoppe is Fantastic. Ann represented us for a house we purchased on Camano Island and the transaction was flawless. Her communication skills between us and the seller’s agent were first class. She kept us informed with every aspect throughout the whole process, from the offer, inspection, appraisal, up to and even after the closing. She was knowledgeable and professional in every detail. It could not have been any better. Ten stars for Ann Hoppe.” Deane and Valerie N.
“Ann has a very low pressure style – good service without being pushy. She has a common-sense approach and is calm and helpful. She monitored the market to help us to establish an accurate market value where we could attract buyers and still capture the best possible sale. We were under contract within 30 days. If you want an agent with integrity and expertise, we recommend Ann.” Randy and Cindy H.
“It has been a pleasure working with Ann over the past several months in our search for a Camano Island beach cabin, which resulted in a recent purchase. Ann has been extremely helpful throughout the entire home-buying process. She is a true professional and very good at what she does. I would highly recommend Ann to anyone who is searching for a home in this area. Jason and Julie B.