They say timing is everything, and when it comes to selling your home, nothing could be truer. Right now in Orlando, it’s a seller’s market and home values are rising.
If you’re thinking about selling your home, for you the timing could not be any better. In fact, the stats say it all,
- Median home prices in Orlando jumped an average of 9.7 percent in the first quarter of 2018 alone, according to housing market reports from the Orlando Regional REALTOR® Association.
- The national home-price index is projected to increase by 5.2 percent on a year-over-year basis from March 2018 to March 2019, according to CoreLogic, a global property information, analytics and data-enabled solutions provider.
- In 2016, sellers received on average 98 percent of the listed price, meaning most didn’t have to lower their asking price to make a sale, according to Mashvisor, a real estate investment research and analytics provider.
Lou Nimkoff, president of the Orlando Regional REALTOR® Association, agrees. “The rebound in the real estate market has created a great opportunity for sellers. Values are their highest in years, and this is an opportune time to be a homeowner who’s ready to cash in on their investment.”
What is your home really worth?
Given these positive market conditions, it’s possible your home is worth quite a bit more than you think. The best way to determine the true value of your homeis to contact a REALTOR® who can offer a comparative market analysis of your home’s value utilizing industry resources unavailable to others.
These market comparisons not only include size and number of rooms, but they also consider the home’s condition, properties like it in the area and how close it is to amenities, such as banking, schools, healthcare, dining and shopping. This analysis helps to ensure you can set the right asking price from the beginning.
“Sellers often think property tax assessment, insurance value or a neighbor’s home value can determine their own home’s value, but only a true comparative market analysis prepared by a licensed REALTOR®, combined with their local connections and market knowledge, can provide a realistic idea of your home’s value,” adds Nimkoff.
Is now the right time for you?
The first step to deciding if now is the right time to sell is contacting a REALTOR® to get the process started. Your REALTOR® will prepare a comparative market analysis to help you understand your home’s value. Then they can help ensure you’re taking the right steps toward selling your house and walk you through the entire process. Pricing your home accurately and using a real estate agent from the start can keep your house from staying on the market for too long and selling for less than the desired price, which often happens when sellers try to sell by themselves or use instant home purchase websites.
If you’re ready to sell, this market is your market. Potential homebuyers in Orlando are searching for that perfect house, and yours could be the one. Whether you’re an empty nester ready to cash in on your investment or upgrading to a bigger and better home to fit your needs, find a qualified REALTOR® who will assist you in determining the real value of your home and who knows how to sell it quickly and hassle-free.