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  How to Decide WHEN To Sell Your Home

You may have been thinking lately “ It maybe time to Sell my House” But how do you know for sure?
Today, we’re going to look at the 6 signs you are ready to sell your house.



Should you sell your house?

If you’ve been thinking about this lately, let me tell the good news first!
Yes,  The greater Lakeland area is still in a sellers market, and the average list-to-contract time is less than 30 days.
But the decision to sell isn’t all about the market conditions… you have to look at Your personal circumstances to determine if the time is right for You!

Here are 6 signs you are ready to Sell:

#1 You Finally Have Equity!
One of the financial signs you are ready sell,  is if you finally have equity in your home.
Meaning you owe less on it than what it’s worth.
Unlike the economic meltdown in 08 & 09 where so many homeowners were in a negative equity situation…meaning Owing much more on their mortgage than what the home was worth. 
But prices have risen quite a bit since then.  In the Greater Lakeland area, prices are starting to level out a bit, and looking more like a typical and healthy real estate market.
So if you’ve been in your home for around 10 years, chances are excellent that you finally have equity.
Figuring out a rough estimate of how much equity you may have is fairly simple…It works like this:
Get a copy of your latest mortgage statement and find your mortgage balance.
Then you’ll need to know the current market value of your home.
*Please do not use those public on line “value estimates”! Zillow, and the rest of them have never been in your home or driven the streets in your neighborhood and often the values given on these on line sites are very deceiving.
Contact a seasoned, local Realtor who is familiar with your neighborhood and can prepare a report for you based on Your personal home.  This is a free service that a licensed Realtor should be  happy to do for you.
Once you have these 2 numbers, Just subtract your mortgage balance from your current home value amount. This figure is the amount of equity you have in your home.
And if that number is enough to net you at least a 5% down payment for your next home.. Then this is a Good sign you’re ready to sell.

 # 2  Debt is Paid Down and you have $$ in the Bank
If you bought your current home with very little money down and or with little or no money towards your closing costs, chances are you didn’t have a healthy saving account at the time…Maybe you were just starting out and perhaps had some credit card or student loan debt.
Now you’re a few years older and wiser, and have paid that debt off or at least paid in down and you’re actually saving a little bit now..
So if you have paid all your non-mortgage debt paid and have at least 3-6 months living expenses in the bank…This is another Good sign you’re in a good position to sell.

# 3 Your Lifestyle and the Next House?
Can you afford the next house?
You maybe needing more space now that your family has grown..
Or maybe the kids have moved out and you’re ‘right-sizing’.
Whether you are upsizing or downsizing make sure the new mortgage payment fits your budget..
A comfortable target for this would be for your new mortgage payment not to exceeds 25% of your monthly income.

# 4  Do You Have the Extra $$ to actually move?
Unless you have a bunch of friends and family to help you move and your current home is in pristine condition inside and out, you’re going to have moving expenses..
You may have professional movers costs.  For an average 3 bedroom home moving across town, could cost around $500. And if your current home needs paint, or repairs to  get it ready to put on the market, you may need several hundred dollars put aside..just for the move itself..  If you’re thinking “ok, I kinda expect that..it’s no big deal” Then this is a good sign you’re ready to sell.

# 5 Emotionally Ready?
Ok you’ve done the math, and the numbers work.. But sometimes selling your home is more than a financial decision.
Ask yourself a few questions:
Are you ready to put forth the effort it takes to get your home ready for the market?
Are you committed to keeping your home ‘show-ready’ all the time.
Are you ready to hear why some buyers may find your home less than perfect?
Are you ready to have a business-like, open mind when negotiating a potentially unfavorable offer?
I’m not trying to scare you or talk you out of selling your home. I just want to make sure you are emotionally vested in the selling process and looking forward to starting the next chapter in your life.

Answering ‘yes’ to these questions is another sign that you’re ready to sell.

# 6 You Kind of Understand the Real Estate market
No one has a crystal ball that can foresee the future. However, we have past data and trends to help understand where the market may be heading.
Right now , the Greater Lakeland area is still in a sellers market, and prices are stabilizing..
Meaning they are not rising as rapidly as they have been in the past 12 months, but still much higher than they were 3 years ago.
Depending on the price range of your home, the number of buyers we currently have out numbers the amount of listed homes to go around..Especially if your home is our areas median price range of around $200k - $225k.

For more detailed information about the Greater Lakeland are market forecast, check out my earlier video here. Lakeland Real Estate Forecast Q1 2020

Selling your home is a Big Deal!... Having a seasoned Realtor to offer you sound advice and guidance through the process is going to make your entire transitional experience stress free and seamless as possible.

So reach out to a local Realtor in your area and get the answers you’re looking for
Like:
*How can I Sell and Buy a home at the same time?
*How much time will I have to move after we get an offer?
*What is being done to market my home?
*How much does it costs to sell a home?

And here’s one I get a lot!...

What happens if my home sells quickly and my new house is not ready yet?

I’m Lisa Kelly, Lakeland Homes and Lifestyles with Premier Realty.  I hope you found this weeks video helpful, and if so, please hit “Like”. And to be notified when my next video will be published, Hit the subscribe button and the little bell.
Bonus:
For your convenience, I put a link below to get my New Sellers Guide that is loaded with tips and advice to get your through the selling process. Enjoy!Sellers Guide 2020

Until then, I’ll see you on the next one.

 

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What my clients are saying  

I had such a positive experience working with Lisa. Not only is she a complete professional, but such a compassionate human being. Her knowledge guiding me through the Florida real estate process was so helpful as a first-time Florida homebuyer. She was always prompt and responsive while going above and beyond. She attended all key inspections in person and kept me informed throughout the entire process. If you are looking for a great real estate experience, look no further. Lisa is your gal to get the job done. I will definitely be working with her again in the future.

 

~ DJ Bradley

We can’t say enough good things about Lisa Kelly! From the moment she stepped through our front door, she demonstrated all the characteristics you want in your realtor: integrity, friendliness, optimism, thorough knowledge of her field, state-of-the-art technical savvy, unflagging energy and sensitivity to all our own needs and feelings. Our house sold in four days and we are certain this success was largely due to Lisa’s skill and hard work. We highly recommend Lisa Kelly to anyone looking for a top notch realtor!

 

~ Tom and Kim Manske

Sidney Wyland Lisa Kelly was our realtor that helped us with our move from Utah to Lakeland. She is a very good resource for us in Lakeland and helped us buy our new home. We found Lisa on the internet. She has helped us with all the contacts and scheduling to insure all things here went smoothly. The closing on our home was completed on time which was very important as we had are household goods being delivered from two different states. She also continues to be there for us for any referrals or help we may need here locally. I would highly recommend her to anyone buying a home.

 

~ Rick and Sidney Wyland

Just wanted to thank Lisa for a job well done. I worked with Lisa on 2 of our homes this past year. We sold one in June and another late in the year. Everything went smooth and all details were handled in a very professional manor. Thanks again Lisa; nice working with you. Lee Brown

 

~ Lee and Frankie Brown

We had been looking for a new home for about three months. We changed Realtors and began working with Lisa. She showed us a couple of places. We talked about limits on price and location. We looked again on a couple. We did not care for those. She emailed us about a home that was being restored for a flip. We met her at our current home. We liked the location and made an offer which was accepted. She did a great job getting the seller to accept and a wonderful job from there. The closing took about fifteen minutes. We have been very happy from that day on. Patricia and Bill Crabb

 

~ Bill and Patricia Crabb

We had been looking for a new home for about three months. We changed Realtors and began working with Lisa. She showed us a couple of places. We talked about limits on price and location. We looked again on a couple. We did not care for those. She emailed us about a home that was being restored for a flip. We met her at our current home. We liked the location and made an offer which was accepted. She did a great job getting the seller to accept and a wonderful job from there. The closing took about fifteen minutes. We have been very happy from that day on. Patricia and Bill Crabb

 

~ Bill & Patricia Crabb

Just wanted to thank Lisa for a job well done. I worked with Lisa on 2 of our homes this past year. We sold one in June and another late in the year. Everything went smooth and all details were handled in a very professional manor. Thanks again Lisa; nice working with you. Lee Brown

 

~ Lee & Frankie Brown

01/03/2017 - shunter317 Bought a Single Family home in 2016 for approximately $175K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa is an exceptional agent as she knows real estate law and the local market. She communicates and is extremely responsive to her clients questions and needs. She walked us through a complicated contract. We consider Lisa a new friend.

 

~ What Others Had to say

Highly likely to recommend 08/09/2016 - HappyBuyerNEOH Bought a Single Family home in 2016 for approximately $225K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: I highly recommend Lisa Kelly! She was awesome to work with through the whole process. Her communication and promptness went above and beyond my expectations. Working in the mortgage industry, I see all types of realtors, if you want a genuine, awesome, go getter- she is your girl!

 

~ What Others had to say

Highly likely to recommend 10/27/2014 - jessbparker Bought a Single Family home in 2014 for approximately $75K in Auburndale, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: I cannot say enough about Lisa Kelly. She helped my husband and I buy our first home when we had limited funds and difficult circumstances. She is extremely knowledgeable about homes, market, taxes- anything you could want to know. She is also an excellent advocate for her clients during negotiations, which really came in handy when you're a nervous first-time home buyer.Less

 

~ What others had to say

Highly likely to recommend 02/22/2014 - par167 Bought a home in 2014. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa Kelly is the hardest working woman I know! If you are in the market to buy or sell take it from my personal experience she delivers results!In Polk County or anywhere else for that matter you will be hard pressed to ever get better service. Paul Renner.....

 

~ What others had to say

Highly likely to recommend 02/25/2012 - user027478 Bought and sold a Single Family home in 2011 for approximately $275K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa is the most professional realtor I've ever worked with... she's direct, honest, highly-knowledgable, very responsive and a consummate professional. She played fundamentally important roles in helping us to sell our house in a tough market. She's a hard worker and also gave us great advice and we were able to sell after listing for about 30 days. She then helped us find and close on our dream home. Her persistance and negotiating savvy helped us buy a house that was not a very convential listing. If we'd had an average realtor, we'd have been a lot less successful with both our deals. I'd recommend Lisa to anyone who wants to work with a genuine professional. She could write a book on what it takes to be an outstanding service provider.

 

~ What others had to say

02/09/2012 - Alyson7707 Bought a Single Family home in 2009 for approximately $125K in Bartow, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: We absolutely loved our experience with Lisa.. She is incredibly knowledgeable and dedicated to finding the home of your dreams. We couldn't be happier with the home she found us or the time we spent with her--she made the experience exciting and easy. We do not hesitate to recommend her to friends and family and will absolutely work with her in the future. Thanks again Lisa! -Michael & Alyson Elrod

 

~ what others had to say

Highly likely to recommend 02/08/2012 - AimeeWeed Bought a Single Family home in 2010 for approximately $100K in Auburndale, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa was always quick to respond to my questions. I honestly think that my family and I would not be in this wonderful house without her hard work. She is honest, not afraid to give her opinion in a helpful way, and she is very knowledgeable in all aspects of her job.

 

~ what others had to say

Wonderful wonderful experience. Lisa is what I call a dream maker. I had the dream, and she made it a reality.Lisa's hard work, her quick response, her compassion in knowing I was a single mom purchasing my first house, has earned my loyalty in using her as my realtor for life.

 

~ what others had to say

Highly likely to recommend 03/09/2011 - reedswife11 Bought and sold a Single Family home in 2011 for approximately $75K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: This woman is amazing, we have run into every road block imaginable and she has negotiated our problems quickly and effectivly everytime. Always available and Always puts her clients first

 

~ what others had to say

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