Are You Thinking About Moving?
Written by Graham Team · Graham Team Real Estate Advisors — Henderson & Las Vegas, NV · Contact
Thinking about selling your house? Discover how you can maximize your profit and move closer to the people who matter most. Let's make your move easy!
Dated: May 22 2024
What is Motivating Your Move?
Thinking about selling your house? As you make your decision, consider what's pushing you to think about moving. A recent survey from Realtor.com looked into why people want to sell their homes this year. Here are the top two reasons (see graphic below):
Let's take a closer look and see if they’re motivating you to make a change too.
1. To Make a Profit
If you’re thinking about selling your house, you probably have a lot of questions on your mind. Well, here's some good news – the latest data shows most sellers get a great return on their investment when they sell. ATTOM, a property data provider, explains:
“. . . home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5 percent return on investment.”
That’s significant. And here’s one contributing factor. During the pandemic, home prices skyrocketed. There was way more buyer demand than homes available for sale and that combination pushed prices up.
Now, home prices are still rising, just not as fast. That ongoing appreciation is good news for your bottom line. Any profit you make can help offset some of today’s affordability challenges when you buy your next home.
If you want to know how much your house is worth now and what's going on with prices in your area, we can have that information readily available to you.
2. For Family Reasons
Maybe you want to be near relatives to help take care of older family members or to have more support nearby. Or maybe you’re just eager to spend time together on special occasions like birthdays and holidays.
Selling a house and moving closer to the people who matter the most to you helps keep you connected. If the distance is making you miss out on some big milestones in their lives, it might be time to talk to a local real estate agent to find a place close by. The National Association of Realtors (NAR) says:
“A great real estate agent will guide you through the home search with an unbiased eye, helping you meet your buying objectives while staying within your budget.”
Bottom Line
If you're thinking about selling your house, there’s probably a good reason for it. Let’s talk so you have help making the right move to reach your goals this year. Contact us today!
Graham Team Real Estate • (702) 930-9551 • Team@grahamteamnv.com
3007 W Horizon Ridge Pkwy, Ste. 210, Henderson, NV 89052
Frequently asked questions
If I'm thinking about moving, how do I know how much profit I will make?▾
If you are thinking about moving, your potential profit depends on your current home equity and local market conditions. Recent data shows typical sellers enjoy significant returns due to ongoing home appreciation. To get an accurate estimate of your home's current market value and potential selling profit, contact a local real estate agent for a comprehensive comparative market analysis.
Is now a good time for selling your house, or should I wait?▾
Current market conditions remain highly favorable for selling your house. While home prices are no longer rising at pandemic-era speeds, steady appreciation continues to build seller equity. If you are thinking about moving, selling now allows you to leverage this accumulated equity to offset higher mortgage rates and affordability challenges on your next home purchase.
How can selling my house help me move closer to family?▾
Selling your house is often motivated by major life changes, such as wanting to be closer to family. By capitalizing on your current home equity, you can comfortably transition to a new area. Working with an experienced real estate agent will help you navigate the process smoothly, ensuring you find a budget-friendly home near your loved ones.
If I sell my house, will the profit offset today's high interest rates on a new home?▾
Yes, the substantial equity gained from selling your house can significantly ease today's affordability challenges. Many sellers make a strong profit due to recent years of rapid price growth. You can use these proceeds as a larger down payment on your next home, which reduces your loan amount and lowers your monthly mortgage payment.
What should I look for in a real estate agent if I'm thinking about moving?▾
When you are thinking about moving, look for a local real estate agent with deep market expertise, a proven track record, and strong communication skills. A great agent provides an unbiased analysis of your home's value, designs a strategic marketing plan for selling your house, and guides you through both the selling and buying processes.
How do I find out what my home is worth before selling?▾
Before selling your house, avoid relying solely on automated online estimates, which can be inaccurate. Instead, request a Comparative Market Analysis from a professional real estate agent. They will analyze recent sales of similar homes in your immediate neighborhood to provide an accurate, data-driven valuation to guide your decision if you are thinking about moving.