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Old 2015-08-27, 12:45 AM
Volleyman Volleyman is offline
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Default When is the good time to sell your house?

So we just signed our PA for a house that's closing in July '16.

We currently own a house right now. When is a good time to put it on the market?

And what are your thoughts on a realtor vs doing it yourself (Ex: Grapevine)?
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Old 2015-08-27, 08:21 AM
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I'd suggest near the end of the school year.
Trying to sell at the beginning of the school year makes it difficult if kids have to change schools.
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Old 2015-08-27, 08:23 AM
BlkStnDude BlkStnDude is offline
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Quote:
Originally Posted by Volleyman View Post
So we just signed our PA for a house that's closing in July '16.

We currently own a house right now. When is a good time to put it on the market?

And what are your thoughts on a realtor vs doing it yourself (Ex: Grapevine)?
It's a good time to put it on the market when more than one buyer is ready to buy. Speak to any real estate "pro" and they will tell you any time of the year is a good time to put it on the market so long as you are competitively priced and your home looks "move-in-ready".

However traditionally the Spring market (April to June) is the best time as that's when people really start to get the itch. Having the home ready to be listed in late-Feb or into March means you get ahead of everyone else. Keep in mind that a "good time" to list your house is also a good time to list your neighbours house and the other house down the street.

I'll let the other thread on this site labelled "Grapevine" as a good summary of the pros and cons to FSBO or not to FSBO.
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Old 2015-08-27, 08:49 AM
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You may wish to consider selling it now and moving twice. Yes its somewhat inconvenient, but you avoid owning two homes or having a short term temporary stay. I would suggest starting in March if you want to wait.
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Old 2015-08-27, 09:38 AM
BlkStnBerk2 BlkStnBerk2 is offline
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As G2K has mentioned, there's no harm in selling it well before your new home's closing date. It's less stress than trying to line up the two closing dates, and keeps you flexible for potential buyers.

A few of our neighbours did the same. They built a new home, sold their previous home as soon as they could, and moved into a month-to-month rental. Their rental/storage fees were less than their previous mortgage, and general home expenses as well. This is a good way to save up money for your closing costs and other expenses for your new home.

Having said that, listing too close to Winter is probably going to create a lot of "time on market" for your home, as the winter is the "slow" season for home buying.

If you decide to wait, I suggest end of February for listing. You will most likely be one of the first new listings for the Spring busy season. It's better than when 100 listings all pop up within the first or second week of March.
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Old 2015-08-27, 01:40 PM
WellThatsLovely WellThatsLovely is offline
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Lots of potential harm in selling it too early. We almost did that just to be safe, we would have accepted $200k less than what we actually got a year later. Our agent said to just trust him and put it up on the market 60 days prior to closing. We were really nervous about that but he turned out to be spot on.
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Old 2015-08-27, 02:49 PM
BlkStnBerk2 BlkStnBerk2 is offline
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Quote:
Originally Posted by WellThatsLovely View Post
Lots of potential harm in selling it too early. We almost did that just to be safe, we would have accepted $200k less than what we actually got a year later. Our agent said to just trust him and put it up on the market 60 days prior to closing. We were really nervous about that but he turned out to be spot on.
Let's be serious. Home values/pricing are not on the increase.

And listing 60 days prior to the new closing is very risky. You could potentially be unable to close on your new home. Not all people are qualified to carry two mortgages, not to mention, if someone lowballs you, you're more likely to take that offer based on being unable to carry both mortgages.

It worked out for you, but AVERAGE time on market these days is 50+ days. It's definitely a buyer's market.
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Old 2015-08-27, 10:51 PM
WellThatsLovely WellThatsLovely is offline
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Quote:
Originally Posted by BlkStnBerk2 View Post
Let's be serious. Home values/pricing are not on the increase.

And listing 60 days prior to the new closing is very risky. You could potentially be unable to close on your new home. Not all people are qualified to carry two mortgages, not to mention, if someone lowballs you, you're more likely to take that offer based on being unable to carry both mortgages.

It worked out for you, but AVERAGE time on market these days is 50+ days. It's definitely a buyer's market.
Sure but suggesting someone sell a YEAR in advance is just as extreme.
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Old 2015-08-27, 11:25 PM
BlkStnBerk2 BlkStnBerk2 is offline
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Originally Posted by WellThatsLovely View Post
Sure but suggesting someone sell a YEAR in advance is just as extreme.
There's no harm in selling early, especially with the possibility that the housing bubble burst. As long as someone sells for market value, it's not a huge deal. I don't think that's really "extreme". I do think listing 60 days before closing is asking for stress, and could really have some negative repercussions if the seller is unable to carry two mortgages..

Possibility of losing deposit and new home, versus selling with lots of time left before closing. I'd select the latter every time.
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Old 2015-08-28, 04:16 PM
shane shane is offline
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What city is your current home in?
Not sure how someone came up with 'Home values/pricing are not on the increase', but in most parts of the city prices have been on a steady increase. with mortgage rates being reduced again it is likely the market would be steady. The reality is price your home right it will sell, a good realtor can also tell you how long comparable type homes take to sell in your neighbourhood.
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