Time To Sell? Signs To Know You're Ready

Are you considering selling your house but unsure whether the time is right? Assessing a few key factors can help you decide if you're ready for a move.

You have the wrong amount of space. Whether you're running out of room for your growing family or you're an empty nester and the house feels too big, one sure way to know it's time to move is when your home no longer fits your lifestyle.

You've built up equity. When selling your house and purchasing a new one, it's wise to have enough equity to cover at least a 20% down payment on your new home to avoid paying private mortgage insurance (PMI). Make sure you also have enough to cover closing costs and moving expenses.

The market is in your favor. The timing of your house sale can significantly impact the offers you receive. Take advantage of high home values and strong demand to maximize your sale price.

Your house is ready to list. Properties in good condition and not needing any extensive repairs are more attractive to buyers. If minor touchups and fixes are required, be sure to address those before putting your house on the market.

You've found the right real estate agent to help you. Once you decide it's time to sell, a real estate professional will guide you through the process, helping you move on to the next exciting chapter of your life.

Keep Curb Appeal Up When Temperatures Soar

Maintaining curb appeal throughout the long summer months can be a feverish undertaking. Consider these tips to keep your home looking refreshed, even on the hottest days.

Add potted succulents to your landscape. These heat-tolerant beauties not only reduce your watering and weeding workload but also come in a variety of muted tones and textures that give your outdoor space a trendy touch.

Look for indications of wear and tear on your home's exterior. Heat from the sun can cause paint to fade, blister, peel, and crack. If you see any of these signs, it may be time to have your house repainted.

Mow your lawn on a regular basis and use an edger or trimmer for a clean, crisp perimeter. Pressure wash your concrete driveway and walkways to complete the manicured look.

Wash away dirt and pollen left behind by seasonal winds and storms. Clean your windows inside and out so the bright summer sun can help your home shine.

What's Going on With the Housing Market?

Last year, economists predicted falling mortgage rates in 2024 would increase the number of potential buyers, with sellers eager to list their homes. When rates fall and more properties are on the market, home prices tend to level off. More sellers will naturally allow for more sales.

Even though mortgage rates have been rising for the past two years, data shows that inventory has been increasing, and home prices have remained steady. Unless there is a significant drop or increase in mortgage rates, home prices will likely remain consistent with last year.

You can rely on a knowledgeable real estate agent to help sell your home quickly for the best price.

How To Stand Out as a Buyer

A competitive housing market moves quickly, so buyers often need ways to capture the seller's attention. With the right strategies in place, your dream home is just one good offer away.

Get Preapproved
Loan preapproval gives a seller confidence in your funding ability, and knowing your purchase limit can help you make a competitive offer when other bids are on the table.

Present Your Best Offer
In a seller's market, you may only get one shot at making an offer, so make it your best.

Don't Sweat the Small Stuff
Asking for a lot of extras during negotiations may deter a seller. Stay focused on the most critical items, such as the roof, foundation and plumbing.

Act Fast
Competitive markets move swiftly. To reduce deliberation time, make a list of nonnegotiable features you want in a home.

Work With a Real Estate Professional
Buying a house is a complex process, so having someone you trust to help you navigate the details is important.

Advantages of Putting a House in a Trust

Placing a house in a trust can help ensure a smooth transfer of the property to your beneficiary upon your passing. It establishes a fiduciary relationship, which prioritizes the protection of another individual's interests. Here are some of the benefits of creating a trust.

Avoid probate. Probate can be an expensive, lengthy process for those who inherit property and other assets. A trust allows for direct transfer without going through the court.

Reduce taxes. Depending on the type of trust you establish, you may be able to minimize estate taxes or other taxes that could be imposed on your property.

Maintain privacy. Placing your house in a trust ensures sensitive financial information isn't included in public records.