The buyer activity in the greater Lansing market is head-spinning. Add a shortage of good marketable listings and you’ve got a situation that results in listings selling very quickly with multiple offers being common. One implication of this situation is the affect on contingent offers.

Sellers today who have decided to move up or downsize find not only a more limited selection of properties for sale but are also discovering that an offer contingent on the sale of a property is not likely to get any consideration at all. As hard as it is to say, an offer contingent on a sale is not a real offer in most sellers’ minds.

So what does this mean? Buyers already owning a property must sell before they buy. Now that’s a scary situation for most. Scary yes, but also a market reality. There are ways to mitigate the issue with extended occupancy or temporary housing but the pressure is still there.

Seek out the counsel of an experienced Realtor and put a plan together that will meet your needs but be aware of the challenges this market is presenting.

If you’ve ever considered selling your home in the Greater Lansing area, there is no better time than the present. Buyers heavily outweigh the amount of properties for up for sale, which gives sellers a lot more leverage in the negotiating process. However, before you can make an informed decision there are some questions you should answer first to determine if now is a good time for you to sell:

• Do I know what my home is currently worth? I’m not referring to a Zestimate or some automated evaluation tool, rather a true market analysis done by a professional Realtor. It doesn’t cost you a thing, and you’ll be much better informed.

• Do I have a price at which I would be willing to sell? Be informed about your current mortgage debt as well as any ongoing carrying costs to help you determine whether you truly want to sell at this time. An unrealistically high listing price will not get you the result you want no matter how much you want it to happen, so it’s better to decide upfront if you are a true seller or not.

• Do I understand what’s happening with sales and pricing in my neighborhood and what is likely to happen in the near future? Are there market dynamics that will affect my decision to sell? A quick conversation with a Realtor active in your market should get you the answers you need.

By answering these questions you will be able to make an informed decision on whether or not you are ready to become a seller. If you are, a professional Realtor can help to put together a plan to market your home and get the highest possible price with the least inconvenience to you.

It’s not a secret that a couple months after we ring in the New Year every year, we see a “Spring Rush” in the real estate market. As home sellers come out of hibernation, home buyers also seem to come out of the woodwork. This ebb and flow has many people thinking that they need to hold off on selling their home until Spring, which is the furthest thing from the truth. There are many advantages to selling your home in the wintertime that can give you a leg up on selling your home quickly and at the right price.

Here are some reasons why wintertime are perfect times to sell your home:

• The inventory of homes for sale now is down and consequently buyers who need to buy are less likely to negotiate aggressively for desirable properties. Waiting until spring will mean a seller will have more competition. In addition to the seasonal increase, new home construction is increasing and more home owners who are moving out of negative equity situations will be putting their homes on the market.
• With less overall transactions occurring, mortgage lenders, appraisers, and inspectors are less overwhelmed and the selling process is likely to be smoother and faster.
• If you are moving up to the house of your dreams, it is unlikely it will ever be cheaper. Prices are projected to appreciate and you can lock in your costs of housing for years to come at historically low interest rates.
• You can remove the uncertainty and stress of waiting by taking control. Instead of a home sale keeping you from moving on with your life, you and your family can start living the way you want. If a home sale is affecting your health, your financial well-being, or time with family, it could be time to take stake of what’s really important.

If you’re ready to move before Spring, putting your home on the market during the colder seasons can create the perfect combination of factors to sell your home as quickly and easily as possible.