Survey Says Now’s a Great Time to Sell
How to know if it’s right for you
With existing housing inventory on the decline for the past two years, 71 percent of homeowners believe now is a good time to sell according to research by the National Association of REALTORS quarterly Housing Opportunities and Market Experience (HOME) Survey. This rings true with Matt Farrell, managing broker of New Eastside’s Urban Real Estate, who sees the same opportunity in our community, and across Chicago.
“There is obviously a disconnect between homeowner perceptions, and translating that to bringing their home to market, but the truth is, if your lifestyle or economics affords you the opportunity to sell, now is a great time to do so,” says Farrell. “Interest rates remain desirable, and buyers who have
invested wisely are looking to make their mark in our neighborhood by buying here. New Eastside, in particu- lar, attracts serious buyers, competitive offers, and strong deals when presented with homes priced compellingly.”
Urban Real Estate brokers regularly walk clients through the current marketplace, and evaluating if “now” is the right time for a homeowner to sell. Farrell, an expert on local and national media and often interviewed on Chicago’s real estate trends, adds that one
of the most important parts of selling is being able to address the “Where do we go once we sell” question. “Thinking about where you will go once you sell is often the most imperative part of the decision. If you haven’t thought that through, the expense in interim housing, dual packing and moving expenses, and stricter timeframes due to a lease, etc., can ultimately cost you financially now, and negate your ability to negotiate a strong deal for the home you purchase later.”
NAR’s survey also adds that consumer confidence, housing affordability, and job security, continue to add to a market plagued with questions in the short and long-term. “The reality is, homeownership in our corner of the city remains one of the best places to call home. If you have the opportunity to make a change, and can exceed your personal and financial goals doing so, this is absolutely the time to connect with a trusted real estate advisor and evaluate your own situation, today,” Farrell says.
For more on the Urban Real Estate Difference, or to connect with one of our brokers, call 312-528-9200, stop by our office at 400 E. Randolph St., or visit us online at UrbanRealEstate.com.
— Urban Real Estate