Finding a realtor, local market conditions and choosing the price all dictate the speed and value of the final sale, and getting one of them wrong can cause chaos in the quest to move your home on.
Yet, the housing market is showing promising signs of sales uptick. With the US mortgage rate falling below 4% since spring 2019 and a strong US job economy, the appetite for buying homes certainly exists.
So, how exactly should you go about selling a home in 2020?
To help you out, we’ve answered some of the most frequently asked questions when selling your home at the turn of the decade.
When should I sell my house?
First and foremost, this relies heavily on the state of the market.
Like every other industry, housing moves in peaks and troughs, booms and busts. But if you’re looking to sell your house now, you’re in luck.
2020 is the ideal time for selling a home.
As well as a strong job economy and low interest rates, the property market has never been more valuable. To put a figure on it, the property housing market rose in value by 49% to $33.3 trillion from 2012 to 2019. This year is expected to increase in value again.
However, the value of house prices are expected to fall. According to realtor.com, house sales are expected to drop nationwide by 1.8%, with densely populated urban areas hit hardest in terms of sales. This is because the rise in millennial buyers can’t be facilitated by the lack of affordable housing in major US cities.
2020 will have plenty of home buyers, but a lack of housing to match buyer profile could prove detrimental to particular home sellers.
Should I sell my house with a realtor?
Many home sellers will initially opt to employ the services of a realtor.
It’s perfectly normal to do so, as realtors are presented as people that can do the heavy lifting throughout the process of selling a house.
If it’s organizing an open house, price comparisons of similar listed properties, or arranging the contract of sale, realtors will claim they can make your house selling process as smooth as butter.
Unfortunately, it doesn’t always go like that.
For one, there are some problems a realtor simply can’t solve. For example, if you’ve got a noisy set of neighbors, potential deals with buyers could be scuppered by adjoining property owners.
Furthermore, many realtors lack credible experience that’s necessary to sell a property in a timely and financially beneficial manner for property sellers.
So, selling your home with a realtor might not be the safe bet that you thought it was.
Should I sell my house at an auction?
House auctions have been seen as the ideal quick-sell alternative for many home sellers.
Whether you’re thinking of buying or selling your home, auctions are a hotbed of adrenaline where deals are made and dreams come true.
There are some inevitable downsides of selling your house at auction though.
Firstly, the competitive nature of housing auctions can act as a deterrent to potential buyers who may be willing to pay closer to your evaluation.
Furthermore, in the eventuality that your house doesn’t sell, there are still auctioneers fees to be paid.
Housing auction events can be appealing, given their image of being an easy-sell, fast-cash way of selling a house in 2020. However, auctions are only viable options dependent on their turnouts and clearance rates.
Why you should sell your house with a quick sale company
There’s a lot of negativity around quick house selling. Many people worry about the integrity of quick sale house companies and if they have a home seller’s interest truly at heart.
However, with a quality quick sale company, selling a home in 2020 is made easy and effective for home buyers.
Selling a house through a quick sale company means that you keep all the money from the sale. Since there’s no need to hire a realtor or auctioneer, there are no extra post-sale fees to consider.
Additionally, selling with a quick sale company is far likelier to go through than selling through a realtor.
Moreover, with a quick sale company, home repairs aren’t required. If your house has a stack of repairs before it’s suitable for public viewing, a quick sale company will happily purchase the property and fix it up post-sale.
Most importantly, selling your home with a quick sale company is as its name suggests, quick. In 2018, the average time to sell a house was 65-93 days. Quick sale companies will buy your house in a fraction of the period of time.
Signing Off
When asking yourself should I sell my house in 2020, remember that the ability to find a buyer exists.
There are always people willing to buy housing, the issue is finding them.
Follow our tips, and consider alternatives outside of realtors, and you’ll discover selling a home in 2020 can be more streamlined you might have initially anticipated.