If you’re thinking about selling a house and making a move, you might have some questions. Here are 3 top questions I get about selling a house in today’s market from homeowners in Roseburg Oregon.
Maybe you have other questions about selling… feel free to shoot me a message and I’ll address them directly or in my next video.
So, what’s holding you back from selling your house? Sure, mortgage rates and other economic trends have had an impact on today’s housing market, and that might leave you with some questions about whether it’s time to make a move or maybe you should wait until rates come down… or some other thing happens that gives you the green light that it’s time to sell.
Should I Wait To Sell My House?
The first question I hear from homeowners asking about selling a house in today’s market is should I wait until mortgage rates come down before listing my house for sale? First off, you should know that there are a ton of other people asking the same thing.
I can’t speak to other areas, but this is probably the number one question I get when I’m out at a listing appointment in Roseburg. Rates have come down some (at least for today), and we’re told they could come down a little more through 2024. We’ll see if that happens or not…
But, real estate economic experts are saying that even a modest drop in interest rates will bring a flood of buyers and sellers into the market which means there could be a lot more competition in the future.
Are Buyers Still Out There Buying?
The second question I get regularly from Roseburg OR homeowners is – are buyers still out there, and are they buying houses? If you’re wondering if buyers are even looking at homes, the answer is yes.
True, there are fewer buyers than there were in the frenzy-time market like we had here in Roseburg a few years ago, but there are still plenty of active buyers looking for homes right now. It is important to know that the super low interest rates we had during the Covid years spurred on a serious demand for housing… and that wasn’t “normal.”
So, selling a house in today’s market is different than it was a couple of years ago, but it’s more normal and yes, buyers are still out there.
Showing Time is a company that tracks the showing data across different MLS systems, and this chart shows the home showing numbers over the past seven years. This is up through March 2024 because it’s the most latest data available at the moment.
You can see that buyer demand has dipped some since the crazy Unicorn Years (Covid years 2021-2022). We call them the Unicorn Years because they were so unusual, like a unicorn…
But, when you compare the “now” real estate market to the pre-Covid years, you’ll see that we’re not too far off from 2018-2020, so it’s not looking so bad, is it?
I show you this information so you can see how today’s Roseburg OR real estate market stacks up against a normal market so you can make an informed decision. Just a little perspective in light of the negative news media you hear all day long.
Can I Afford To Buy My Next House
The third question I get about selling a house in today’s market is; Can I afford to buy my next house? If you would like to sell but you’re worried that might not be able to afford to buy your next house, consider this…
You probably have way more equity in your home than you realize most sellers that I talked with have no idea how much Equity they actually have homeowners have gained record amounts of equity over the past few years, and that Equity can make a huge difference when you’re out buying your next home.
You buy and sell a house in the market you’re in…
Troy Schuyler
Remember, you buy and sell a house in the market you’re in. It’s impossible to create a market based on your wants. Bottom line, if the market is down, you sell for less and buy your next home for less. The same thing happens in an up-market… you might sell for more but your replacement home costs more too. It’s just how it works.
If you don’t have a house to sell first, so you have no equity… there may be other programs that can help. When there is a desire to become a homeowner, there is usually a way… assuming you have an acceptable credit score and steady income.
If you’ve had questions like these on your mind and the uncertainty has been holding you back from making a move, hopefully having this kind of information helps.
By the way, a recent survey done by realtor.com shows that over the past year, 85% of potential sellers (people who are thinking about selling) are waiting… just waiting for who knows what? That means there are a lot of sellers that are on the fence… but waiting.
And get this… in the same survey, it shows that 79% of the sellers who did sell over the past year say they wish they would have sold sooner. I thought that was kind of interesting.
If you have questions about what buying or selling looks like for you in this market and with your current situation, or maybe you have other questions about Roseburg OR real estate, I’m here to help.
Just shoot me a DM and we can talk.
