Should I Sell My Georgia Home in 2022? - Georgia Realtor Responds
Homes are selling in record time and they're selling for record-high prices. So why do we have a lot of homeowners that aren't putting their house on the market?
- Why should you put your house on the market?
- Is it time to cash out?
- Have we reached the top?
These are the burning questions that you may be having if you are considering a move.
Hi, my name is Connie Carlson. I am a real estate agent and broker here in Marietta, Georgia, and I've been selling homes for 18 years. So that means I have seen the market be crazy good and I have lived through the recession and seen it be really bad.
I'm not going to be that Realtor who says, oh yes, prices are high. Your house will sell fast. You should sell no matter what.
I would be a fool if I said that to you because I think when it comes to selling your home, you have to look at your specific situation.
So the two questions that you should consider is once your home sells, what are your plans as far as where you go next? And the other question is, if you do want to wait, what are the gains or the losses that you may be accepted if you decide to wait?
Q: What Are Your Plans After Your Home Sells?
Option 1: Sell & Rent
So the first thing is, what are your plans next? If for example, you decide that you want to sell your house at the peak because you think that the market is as high as it's going to go, and you want to cash out now, and perhaps the plan is to rent until the market drops back down.
I want to encourage to you before you put your house on the market and get it under contract, to make sure that wherever you're going to rent property has something that's going to be suitable for you. The rental market is as much, if not more competitive than the current housing market is
Do your homework. Don't get in a situation where your house is under contract and you can't find a rental.
Option 2: Sell & Rent
And probably more typical situation we see is someone who wants to sell their house and then right away buy another house on the same day or within a short period of time.
B you put your house on the market, where are you moving to and how competitive is it in that particular market? You see, some parts of Atlanta or other parts of the country, it may be easier to get a house than other parts. So you want to make sure you do your homework and see what's currently out there before you get your house under contract, and then you're stuck and can't get in the house.
Option 3: Sell & Live With a Friend/Second Home
And another option is when you have a second home, or you have parents that you can live with, or you have some sort of alternative housing option. So if you do get your house under contract and sold and you can't find something else to move to, you can sit on the sidelines and wait for the right house to come along. Or in some cases, wait for the market to drop.
This is a great situation to be in right now – especially if you don't have to sell your home in order to get the financing to buy your next home. And when that's the case, I always encourage people to find the house that they want to buy first, put that home under contract and then list their property for sale. And then that way, you know that you have someplace to go to.
Q: Should You Sell Now Or Wait for the Market Prices to Go Higher?
If you have finally decided that this is the year that you're going to want to sell, the next question should be, should you do it now?
Or should you wait until the spring market or even later in the year?
Because what happens if prices go up?
Would you be in a better situation then?
That's a good question. When it comes to the market, no one can really know exactly how to time the market.
Current Housing Market Conditions
Let's look at currently what's happening in the market because that's the one thing that we know for sure.
Watch the video above for a detailed explanation of the charts and graphs provided below.
And all of these statistics are from our multiple listing service and they're based as of the middle of February, 2022.