Are you thinking of selling your Cookeville real estate? Selling the home is usually the one transaction that generates the most amounts of cash. With such a lot of money involved, you will naturally want to do everything you can to maximize it. What follows is a natural question, What is the best time to sell the home?
The Peak Season for Selling
Many experts have recommended that home owners should put their houses on sale during the spring. It has been said that a spring listing can lead to quicker sale. It might also fetch a higher price. It seems like, the long sunny days brings out the buyers.
The Washington Post has refined this timing further, while agreeing that listing the home between April and June leads to a higher price and faster sale. However the Post adds saying that sales usually peak during May and June every year. The Time magazine adds an interesting angle to this. They have recommended sellers to put their houses on sale on a Thursday, because it gives the most traction for the coming weekend.
Factor the Economy
If you have time in your hand, then you should certainly study sales patterns and consider additional data while thinking of selling your Cookeville real estate.
Consider interest rates, housing supplies and rent prices. For instance, home ownership can become a more attractive option when the rent price goes up, as the mortgage price every month could cost less money than the rent. Also consider the housing supply. Sellers often hold on to fetch a higher price later if the inventory situation is tight.
Low interest rate is another important factor to consider. That’s because, the interest rate has a direct effect on the mortgage payment every month for a buyer. A lower rate will mean lower payments. This means that, you are likely to be able to sell better if the interest rate is currently on the lower side. On the other hand, it might be better that you hold on to your property if the rate is high. You will find fewer buyers.
Also, if the interest rate is low, then the buyers can potentially spend more on their Cookeville real estate purchases. For instance, the payment for a 30 year mortgage on a loan of $100,000 at 4% interest would come to $477.42. However, it would jump up to $599.55 if the interest rate was 6%.
Spring is a good time here as well, because rents go up, home supply is low, and the interest rate is also on the lower side this time of the year.
How to Get the Best Leads
So now we know that homeowners stand to benefit by trying to sell the property during spring. But how do you get the best leads?
Stevens Realty can help you here. You can display your property at our website. We also have special arrangements with advertisers that give your Cookeville real estate the maximum exposure. We work all over the state, offering Chattanooga, Knoxville, Cookeville and McMinnville real estate.