The highest price you can get for your home sale changes depending on the market. Here’s where we’re at right now.
I work with a lot of homeowners who are interested in selling their properties, and one of the biggest challenges I’ve found is that many of these people struggle with selling their property for less than what it has sold for in the past. Let me explain.
The market hit its peak in 2018, and we saw a shift starting to happen in 2019. In some areas of Orange County, homes are selling for less than they would have earlier in the year or back in 2018. The market is shifting based on interest rates, the upcoming election, and more.
What I’m trying to help you understand is this: Sometimes, less is more. If a home in your neighborhood sold for $1 million six months ago and you’re thinking about selling, it can be hard to digest the fact that homes aren’t selling for that much right now. If you’re a seller out there, this doesn’t seem to make sense.
What I always tell my clients is that a home is worth whatever a buyer is willing to pay for it. A buyer is always willing to pay what they think a home is worth based on how they feel when they walk through it, the active inventory in the area, and what they know other homes have sold for in the past.
The best advice I can give to sellers is to have an open mind, consider all the different factors involved when you’re selling a property, and let go of the number that’s in your mind; focus on the number that the home is worth in the market today. It’s natural that you feel like you’re leaving a little more money on the table, but realize that buyers aren’t always willing to pay what a seller wants, depending on the market.
It could always be worse. Taking a slightly lower offer earlier on in the process could be a better decision than waiting for a better offer, because that better offer might not come.
If you have any questions for me about selling a home or real estate in general, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.